Total net assets among tax-exempt money market funds saw cash generation again this week, accumulating $757.5 million, which was more than last week's inflows, according to The Money Fund Report, a service of iMoneyNet.com. Total net assets increased to $272.80 billion in the week ended Dec. 3.
Last week, the funds gathered $260.5 million in new cash as total net assets finished at $272.04 billion.
This week, the average, seven-day simple yield for the 440 reporting tax-exempt money funds rose to 0.02% from 0.01% in the prior week, while the average maturity remained unchanged at 35 days.
The total net assets of the 1,055 reporting taxable money funds rose by $25.52 billion to $2.347 trillion in the week ended Dec. 4. That compares to the previous week when $8.23 billion of inflows arrived and total net assets settled at $2.322 trillion.
The average, seven-day simple yield for the taxable funds remained unchanged from the previous week at 0.02%, while the average maturity also remained at 49 days.
Overall, the combined assets of the 1,495 money funds increased by $26.27 billion to $2.620 trillion in the week ended Dec. 4, which compares to the prior week when the arrival of $8.49 billion of inflows saw total net assets settle at $2.594 trillion.
