After two weeks of outflows, tax-free money market fund assets recouped some of those losses in the week ending Dec. 6, rising $3.41 billion to $328.97 billion, according to the Money Fund Report, a service of iMoneyNet.com.
Last week saw $1.77 billion exit the funds as total net assets dropped to $325.56 billion.
The iMoneyNet money fund average seven-day simple yield for the 481 tax-free money funds reporting this week slid to 0.03% from 0.04% last week. The average maturity was unchanged at 32 days.
Among the 1,133 taxable reporting funds, total assets grew $29.12 billion to $2.489 trillion in the week ending Dec. 7. The inflows were a repeat of last week’s activity in which taxables added $787 million and finished with $2.459 trillion.
The seven-day yield for the taxable money funds was unchanged at 0.03%, while the average maturity also remained unchanged at 48 days.
Overall, the combined assets of the 1,614 money funds reporting this week grew $32.53 billion to $2.818 trillion in total net assets for the week ending Dec. 7, after falling $982.2 million to $2.785 trillion last week.
