Tax-exempt money market funds ended a string of outflows as they swept up $476.9 million of new cash the week ending Oct. 4, boosting total net assets to $332.1 billion, according to the Money Fund Report, a service of iMoneyNet.com.

The positive activity follows $2.73 billion of outflows last week, when money funds finished with $331.62 billion. That drop came on the heels of a $2.71 billion loss in the week ending Sept. 20, when the funds finished with $334.36 billion, and $1.08 billion of outflows for the week before, when they finished at $337.07 billion.

The iMoneyNet money fund average seven-day simple yield for the 488 reporting tax-exempt funds remained at 0.04% for the third week in row, while the average maturity declined to 32 days from 33 days.

Meanwhile, the assets of the 1,143 taxable funds in the report fell by $3.77 billion to settle at $2.444 trillion in the week ending Oct. 5. That drop followed inflows of $4.93 billion that left the funds with $2.448 trillion.

The yield for the taxable funds remained at 0.04% for the 16th consecutive week, while the average maturity remained at 44 days.

Overall, the combined assets of the 1,631 reporting funds settled at $2.777 trillion after outflows of $3.29 billion in week ending Oct. 5. By comparison, the funds gained $2.19 billion last week to finish with $2.780 trillion in total net assets.

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