As 2008 begins to wind down, holiday-minded investors withdrew $2.94 billion from tax-free money market funds for the week ending Dec. 15, according to the Money Fund, a service of iMoneyNet.com of Westborough, Mass.

As a result, the 514 funds in the report this week ended with total assets of $491.98 billion, compared with $494.92 billion last week, when the funds experienced inflows of $1.34 billion.

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