Money Funds Drop $3.7 Billion
February 8, 2013
Money market mutual fund assets dropped by $3.67 billion to $2.691 trillion for the week ended Wednesday, February 6, according to the Investment Company Institute.
Assets of institutional money market funds decreased by $3.74 billion to $1.776 trillion. Among institutional funds, taxable government money market fund assets decreased by $110 million to $726.08 billion, taxable non-government money market fund assets decreased by $3.80 billion to $967.21 billion, and tax-exempt fund assets increased by $170 million to $82.33 billion.
On the retail front, money market funds increased by $70 million to $915.86 billion. Taxable government money market fund assets in the retail category decreased by $200 million to $195.39 billion, taxable non-government money market fund assets decreased by $550 million to $520.38 billion, and tax-exempt fund assets increased by $830 million to $200.10 billion.
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