A generous $6.67 billion of assets flowed into tax-free money market funds for the week ending Feb. 4, according to the Money Fund Report.
The inflows brought the total assets under management among the 549 funds included in the report to $489.9 billion. The prior week, 550 funds had inflows of $939.5 million, bringing total assets among those funds to $483.2 billion.
Average seven-day yields over this period were 2.10%, down 35 basis points from 2.45% the previous week, according to the report from
Meanwhile, the 1,270 taxable money funds had inflows of $31.33 billion and total net assets of $2.813 trillion - down from last week's inflows of $56.96 billion, which resulted in $2.782 trillion in total net assets among the 1,271 funds in the category.
The 1,819 money market funds combined this week saw $38.00 billion in inflows that amounted to $3.303 trillion in total net assets, down from $57.90 billion in inflows the week before that amounted to $3.266 trillion in assets under management.
- Christine Albano
