Outflows of $3.43 billion continued to whittle down tax-free money market funds in the week ended Jan. 28 as total net assets settled at $282.68 billion after the third steady week of losses, according to The Money Fund Report, a service of iMoneyNet.com.

The outflows mirrored last week, when a net $2.44 billion fled the industry and total net assets settled at $286.11 billion. A whopping $4.21 billion exited the funds in the week ended Jan. 14 when total net assets settled at $288.55 billion.

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