Money Funds Drop $770 Million
February 1, 2013
Total money market mutual fund assets dropped by $770 million to $2.695 trillion for the week ended Wednesday, January 30, according to the Investment Company Institute.
Investors redeemed $8.31 billion from retail money market funds and $1.04 billion from taxable government money market funds.
Institutional money market funds saw inflows of $7.54 billion to $1.779 trillion. Among institutional funds, taxable government money market fund assets increased by $6.73 billion to $726.19 billion, taxable non-government money market fund assets increased by $2.34 billion to $971.01 billion, and tax-exempt fund assets decreased by $1.53 billion to $82.16 billion.
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