Tax-exempt money market funds saw modest inflows as they reversed the recent outflow pattern. In the week ended Feb. 25, $424.80 million arrived into the industry and total net assets inched up to $278.62 billion, according to The Money Fund Report, a service of iMoneyNet.com.
Significant outflows had occurred almost every week since mid-January. Outflows of $1.88 billion escaped from the funds and total net assets settled at $278.20 billion in the week ended Feb. 18, after $2.40 billion of net outflows in the week ended Feb. 11 when total net assets settled at $280.07 billion.
The average, seven-day simple yield for the 431 reporting tax-exempt money market funds was unchanged from the prior week at 0.01%, while the average maturity decreased by one day to 31 days.
Among the 1,039 reporting taxable money market funds total net assets rose by $13.84 billion to $2.372 trillion, which compares to the prior week when $30.64 billion poured out of the taxable market leaving total net assets down to $2.359 trillion.
The average, seven-day simple yield for the taxable funds remained at 0.02%, while the average maturity was also unchanged at 48 days.
Overall, the combined total net assets of the 1,470 reporting money funds grew by $14.27 billion to $2.651 trillion, as opposed to $32.51 billion of outflows in the prior week when total net assets settled at $2.637 trillion.
