As the end of the year nears, tax-exempt money market fund flows are back in positive territory thanks to modest inflows of $643.2 million in the week ended Dec. 19, increasing total net assets slightly to $290.43 billion, according to the Money Fund Report, a service of iMoneyNet.com.
Last week, $157.4 million trickled out of the funds, which finished at $289.78 billion on the heels of $5.27 billion of withdrawals the week before.
Those were the largest weekly inflows and movement for the year so far amid the chronic outflows for most of 2011.
Meanwhile, the average seven-day simple yield for the 468 tax-exempt reporting funds remained unchanged at 0.01% for the 16th consecutive week, while the average maturity was stuck at 34 days.
On the taxable side, total net assets of the 1,114 reporting funds declined by $13.24 billion to $2.363 trillion in the week ended Dec. 20.
The previous week saw assets grow $14.30 billion and settle at $2.376 trillion.
The seven-day yield for the taxable money funds remained at 0.02% for the 21st week in a row, while the average maturity remained at 44 days.
Overall, the combined total net assets of the 1,582 reporting money funds declined by $12.60 billion and settled at $2.654 trillion in the week ended Dec. 20, down a tad from the week before, when assets rose by $14.14 billion and increased to $2.666 trillion.