Tax-exempt money market funds pared back outflows from last week, but still lost $426.6 million, reducing total net assets to $268.87 billion in the week ended Feb. 3, according to The Money Fund Report, a service of iMoneyNet.com.
The outflows pale in comparison to the $2.29 billion that exited the funds the week before,when total net assets fell to $269.29 billion.
The average, seven-day simple yield for the 420 weekly reporting tax-exempt money funds remained at 0.01%, while the average maturity was unchanged at 33 days.
The 1,015 weekly reporting taxable money funds gained $1.77 billion of new cash in the week ended Feb. 4, which slightly boosted total net assets to $2.446 trillion - up from $2.444 trillion last week following outflows of $4.66 billion.
The average, seven-day simple yield for the taxable funds was unchanged at 0.01%, while the average maturity was unchanged at 47 days.
The combined total net assets of the 1,435 weekly reporting money funds rose by $1.34 billion to $2.715 trillion in the week ended Feb. 4. That compares to outflows of $6.95 billion the week before that decreased total net assets to $2.713 trillion.
