Modest inflows made their way into tax-exempt money market funds for the first time in nearly a month as $99.2 million trickled in and total net assets settled at $268.41 billion in the week ended Oct. 1, according to the Money Fund Report, a service of iMoneyNet.com.
It was the first inflow activity since the funds took in $1.94 billion in the week ended Sept. 10, when total net assets settled at $270.25.
Last week, the funds lost $1.49 billion as assets declined to $268.31 billion.
The average, seven-day simple yield for the 438 tax-exempt money funds reporting remained at 0.01% for the 18th consecutive week, while the average maturity remained unchanged at 37 days.
Meanwhile, in the taxable market, the total net assets of the 1,059 reporting money funds decreased by $14.30 billion and settled at $2.276 trillion in the week ended Oct. 2. That followed a week in which $12.83 billion of inflows boosted assets to $2.290 trillion.
The seven-day yield for the taxable money funds was unchanged at 0.03% for the fourth week, while the average maturity remained at 48 days.
Overall, the combined assets of the 1,497 reporting money funds declined by $14.20 billion in the week ended Oct. 2, as total net assets finished at $2.544 trillion. The outflows came on the heels of $11.35 billion of inflows in the previous week that increased assets to $2.559 trillion.
