More Outflows for Muni Money Funds

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Tax-exempt money market funds posted $195 million of outflows, extending last week's losses and reducing  total net assets to $270.29 billion in the week ended March 24, according to The Money Fund Report, a service of iMoneyNet.com.

The funds had $139.5 million of outflows the week before.

The average, seven-day yield for the 420 weekly reporting money market funds was unchanged at 0.01%, while the average maturity declined by one day to 31 days compared to last week.

The total net assets of the 1,050 weekly reporting taxable money market funds decreased by $4.02 billion to $2.397 trillion in the week ended March 25, as outflows declined from the previous week's $21.02 billion.

The average, seven-day yield for the taxable funds was steady at 0.01%, while the average maturity was unchanged at 47 days.

The combined total net assets of the 1,435 weekly reporting money market funds slipped by $4.22 billion to $2.668 trillion in the week ended March 25, versus outflows of $21.16 billion the week before.

 

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