Tax-exempt money market funds regained more than half of the outflows they suffered last week, as $1.92 billion of net new cash boosted total net assets to $266.64 billion in the week ended Sept. 9, according to The Money Fund Report, a service of iMoneyNet.com.
In the prior week, outflows of $2.18 billion trimmed total net assets to $264.71 billion. It has been nearly a month since the funds last reported the arrival of net new cash, when $1.02 billion of inflows caused total net assets to inch up to $267.95 billion in the week ended Aug. 19.
The average, seven-day simple yield for the 421 reporting tax-exempt money funds was unchanged at 0.01%, while the average maturity remained at 42 days.
Taxable money market funds reported $31.28 billion of inflows in the week ended Sept. 10 as total net assets rose to $2.377 trillion. That compares to the prior week when outflows of $17.57 billion decreased total net assets to $2.346 billion.
The average, seven-day simple yield for the 1,022 reporting money funds held at 0.01%, while the average maturity increased by one day to 48 days.
The combined total net assets of the 1,443 reporting money funds increased by $33.21 billion to $2.644 trillion in the week ended Sept. 10, which compares to the previous week when $19.74 billion of losses caused total net assets to drop to $2.610 trillion.
