Image: Fotolia

Tax exempt money market funds lured $725.2 million in the week ended Dec. 2, according to The Money Fund Report, a service of iMoneyNet.com.

The inflows, which raised total net assets to $263.46 million, partially offset the prior week's $1.08 billion of outflows.

The average seven day simple yield for the 419 weekly reporting tax-exempt money funds was unchanged at 0.01%, while the average maturity declined one day to 39 days.

The total net assets of the 1,015 weekly reporting taxable money funds gained $15.22 billion and rose to $2.419 trillion in the week ended Dec. 3, which compares to the prior week when the total net assets of taxable money funds settled at $2.404 trillion after the arrival of $19.08 billion.

The average seven day simple yield for the taxable funds remained at 0.01%, while the average maturity declined by one day to 48 days compared to the prior week.

The combined total net assets of the 1,434 reporting money funds $2.682 trillion after the addition of $15.95 billion. That compares to last week's inflows of $17.99 billion, which boosted total net assets to $2.667 trillion.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.