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MMF Inflows Barely Stay in Positive Territory

After amassing more than $3 billion last week, tax-exempt money market funds stayed in positive territory, though only by $260.5 million, in the week ended Nov. 26 as total net assets settled at $272.04 billion, according to the Money Fund Report, a service of iMoneyNet.com.

The modest inflows came on the heels of $3.68 billion the week before — one of the largest single weekly inflows so far this year — as total net assets settled at $271.78 billion.

The average, seven-day simple yield for the 439 tax-free reporting funds remained unchanged at 0.01% for the 26th consecutive week, while the average maturity decreased by two days to 35 days compared to last week.

Among the 1,055 taxable reporting money funds, total net assets rose by $8.23 billion to $2.322 trillion in the week ended Nov. 27. Though sizable, the inflows pale in comparison to the previous week when total net assets soared up $27.03 billion and settled at $2.313 trillion.

The seven-day yield for the taxable money funds remained at 0.02% for the second week, while the average maturity decreased by one day to 49 days.

Overall, the combined total net assets of the 1,494 reporting money funds increased by $8.49 billion to $2.594 trillion in the week ended Nov. 27. The previous week saw assets rise to $2.585 trillion after the arrival of a whopping $30.71 billion of inflows.

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Great article
Posted by 1234g | Monday, December 03 2012 at 1:20PM ET
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