Tax-exempt money market funds saw lighter outflows compared to last week, but still lost $684.3 million and saw total net assets decline to $287.30 billion in the week ended March 19, according to the Money Fund Report, a service of iMoneyNet.com.
By comparison, investors withdrew $1.86 billion of cash and the funds settled at $287.98 billion in the week ended March 12.
This week, the average seven-day simple yield for the 446 tax-exempt reporting funds remained at 0.01% for the 29th week in a row.
Meanwhile, the average maturity decreased by one day to 28 days.
Meanwhile, the total net assets of the 1,103 taxable reporting money funds declined by a whopping $27.20 billion to $2.308 trillion in the week ended March 20, following a week that sawassets fall $1.75 billion to $2.334 trillion.
The seven-day yield for the taxable money market funds was unchanged at 0.03% for the seventh consecutive week, while the average maturity remained at 46 days.
Overall, the combined assets of the 1,549 money market funds reporting decreased by $27.88 billion and settled with $2.595 trillion in the week ended March 20.
The previous week saw the funds lose $3.61 billion and finish with $2.622 trillion.