Money market fund assets fell by $3.1 billion

Total U.S. money market mutual fund assets fell by $3.1 billion to $2.59 trillion for the week that ended Wednesday, according to the Investment Company Institute.

Assets in the nation’s retail money market mutual funds fell by $2.74 billion to $903.91 billion, the Washington-based mutual fund trade group said Thursday. Assets of taxable money market funds in the retail category fell $1.95 billion to $716.83 billion. Tax-exempt retail fund assets fell $790 million to $187.08 billion.