Tax-exempt money market fund assets declined by $2.09 billion and ended with $406.15 trillion for the week ending Nov. 30, according to the Money Fund Report, a service of iMoneyNet.com.
By comparison, last week the assets of tax-exempt money funds declined by $1.33 billion and settled at $408.23 billion.
This week, the average, seven-day simple yield for the 500 tax-exempt money funds in the report declined one basis point and again returned to a record low of 0.04% originally set on Nov. 9. In addition, the average maturity declined to 30 days from 31 days during the week ending Nov. 23.
In the taxable arena, the assets of the 1,172 funds in the report fell by $21.90 billion to a total of $2.868 trillion for the week ending Dec. 1, compared with inflows of $8.67 billion to $2.890 trillion for the previous week. This week, the average, seven-day simple yield for the taxable money funds remained at a record low of 0.03% for the second week in a row.
The combined assets of the 1,672 money funds in the report fell by $23.98 billion and finished with $3.275 trillion in total assets for the week ending Dec. 1. In the prior week, the combined assets increased by $7.34 billion and the funds closed with total assets of $3.299 trillion.
