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iMoneyNet data as of Dec. 31 showed an overall one-year decline of 2.8 percent for total U.S. money-market fund assets. That followed four straight years of modest yearly increases.

Assets held in 1,099 funds – down from 1,300 in December 2015 – closed out 2016 at $2.696 trillion, off $77.3 billion for the 12-month period. Taxable funds reported assets of $2.565 trillion, up from $2.519 trillion, while Tax-Free funds fell to $130.3 billion from $254.3 billion in 2015.

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