Tax-exempt money market funds generated inflows of $643.2 million and finished the week of Oct. 5 with $423.649 billion in total assets, according to the Money Fund Report, a service of iMoneyNet.com.
Tax-exempt funds generated inflows of $643.2 million and finished the week with $423.649 billion in total assets, the report said.
By comparison, last week the funds lost $5.90 billion and ended with $423.006 billion in total assets for the week ending Sept. 28.
The average, seven-day simple yield for the 506 tax-exempt funds in the report this week fell one basis point to 0.08%, down from 0.09% the previous week. The average maturity remained unchanged at 33 days.
Meanwhile, among the 1,176 taxable money market funds, assets dipped by $18.04 billion and the funds completed the week ending Oct. 6 with $2.978 trillion in total assets, the report said.
At the same time, the average, seven-day simple yield for all taxable funds remained at a record low of 0.05% for a second week in a row.
In the previous week, taxable funds ended with $2.996 trillion after seeing outflows of $13.68 billion for the week ending Sept. 29.
Overall, the combined total assets of the 1,682 money market funds in the report dropped by $17.40 billion to $3.402 trillion for the week ending Oct. 6. That compares to the previous week when outflows of $19.58 billion caused the funds to end the week of Sept. 29 with total assets of $3.419 trillion.
