Outflows resumed for tax-exempt money market funds, which lost $619.5 million in the week ended Sept. 16, according to The Money Fund Report, a service of iMoneyNet.com. Total net assets declined to $266.02 billion.
The decline partly offset prior week’s inflows of $1.92 billion, which had followed nearly a month of outflows..
The average, seven-day simple yield for the 420 tax-exempt reporting money funds was unchanged at 0.01%, while the average maturity remained at 42 days.
Among the 1,022 weekly reporting taxable money funds, outflows of $9.21 billion reducedtotal net assets to $2.368 trillion in the week ended Sept. 17. In the prior week $31.28 billion of inflows boosted total net assets to $2.377 trillion.
The average, seven-day simple yield for the taxable money funds remained unchanged at 0.01%, while the average maturity increased by one day to 49 days.
The combined total net assets of the 1,442 reporting money funds fell $9.82 billion to $2.634 trillion in the week ended Sept. 16. The outflows arrived on the heels of $33.21 billion of inflows in the previous week that boosted total net assets to $2.644 trillion.
