Outflows Resume Among Muni Money Funds

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Tax-exempt money market funds had $1.08 billion in outflows, reducing total net assets to $262.74 billion in the week ended Nov. 25, according to The Money Fund Report, a service of iMoneyNet.com.

The outflows were nearly double the $561.50 million that entered the industry in the prior week and boosted total net assets to $263.82 billion.

The average, seven-day simple yield for the 419 weekly reporting tax-exempt money funds was unchanged at 0.01%, while the average maturity remained at 40 days.

The total net assets of the 1,015 weekly reporting taxable money funds, meanwhile, rose to $2.404 trillion after the arrival of $19.08 billion of inflows in the week ended Nov. 26. That compares to the prior week when outflows of $4.92 billion forced total net assets to drop to $2.385 trillion.

The average, seven-day simple yield for the taxable money funds held steady at 0.01%, while the average maturity was unchanged at 49 days.

Overall, the combined total net assets of the 1,434 weekly reporting money funds grew by $17.99 billion as total net assets increased to $2.667 trillion in the week ended Nov. 26. That compares to the previous week when total net assets dipped to $2.649 trillion following outflows of $4.36 billion.

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