Tax-exempt money market funds lost $1.62 billion and total net assets fell to $322.1 billion for the week ending March 14 on the heels of modest inflows last week, according to the Money Fund Report, a service of iMoneyNet.com.

Positive flows of $639.9 ­million for the week ended March 7 saw total net assets settle at $323.67 billion. That was a slight improvement following the hefty outflows of $2.75 billion the funds experienced in the week ended Feb. 28.

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