Tax-exempt money market funds declined by $1.25 billion to settle at $326.73 billion in total assets the week ending Oct. 25, according to the Money Fund Report, a service of iMoneyNet.com.
The losses tapered off from a previous decrease of $2.31 billion, which left the funds with $327.99 billion the week ending Oct. 18.
The iMoneyNet money fund average, seven-day simple yield for the 487 tax-exempt funds reporting dipped by one basis point to 0.04% compared to last week, while the average maturity remained at 33 days.
Meanwhile, the 1,146 taxable funds reporting this week recouped some of their losses from the previous week, gaining $25.34 billion to close with $2.456 trillion in total assets the week ending Oct. 26. That compares with losses of $17.46 billion in the previous week when the funds ended with $2.43 trillion.
The iMoneyNet money fund average seven-day simple yield for the taxable funds reverted to 0.03% from 0.04% in the week before.
Overall, the combined assets of the 1,633 money funds in the report this week catapulted $24.09 billion to close the week ending Oct. 26 with $27.83 trillion. That compares with losses of $19.76 billion the previous week when the funds closed at $2.759 trillion.
