While tax-exempt money market funds remained at record-low yields of 0.10%, they saw $17.3 million of outflows and settled at $446.10 billion in total assets for the week ending Aug. 24. The outflows were miniscule compared to the $2.82 billion that fled the funds the previous week, leaving $446.12 billion in assets, according to the Money Fund Report, a service of iMoneyNet.com.
Meanwhile, the 1,179 taxable money market funds covered in the report regained nearly half of last week’s losses when they took in $9.55 billion, bringing their total assets to $3.087 trillion for the week ending Aug. 25. The previous week, taxable funds lost $19.81 billion and settled at $3.077 trillion.
Also this week, the average, seven-day simple yield for all taxable funds set a new record low of 0.06%, after dropping just one basis point from the previous record low of 0.07% set the week ending Aug. 18.
Combined assets of the 1,686 taxable and tax-exempt money funds in the report took in $9.54 billion and finished with $3.534 trillion in total assets for the week ending Aug. 25, a reversal from $22.63 billion of outflows to $3.524 trillion the week before.
