Tax-exempt money market funds were boosted by $3.68 billion of inflows – one of the single highest weekly increases of the year – as assets swelled to $271.78 billion in the week ended Nov. 19, according to The Money Fund Report, a service of iMoneyNet.com.
The inflows compare to the prior week when the funds lost $319.9 million and settled with $268.10 billion.
The average, seven day simple yield for the 440 tax-exempt reporting funds stayed at 0.01% for the 25th week in a row, while the average maturity remained at 37 days.
The total net assets of the 1,055 taxable funds, meanwhile, soared by $27.03 billion to $2.313 trillion in the week ended Nov. 20. That compares to the prior week when the funds saw outflows of $1.02 billion and total net assets settled at $2.286 trillion.
The average, seven-day simple yield for the taxable funds was unchanged at 0.02% the prior week, meanwhile, the average maturity increased one day to 50 days.
Overall, the combined assets of the 1,495 money funds grew by a whopping $30.71 billion in the week ended Nov. 20 as total net assets settled at $2.585 trillion. That compares to the prior week when the funds fell by $1.34 billion and total net assets settled at $2.554 trillion.