Tax-exempt money market funds continued to suffer large outflows for a third straight week as investors withdrew $2.83 billion and total net assets fell to $289.29 billion in the week ended Sept. 26, according to the Money Fund Report, a service of iMoneyNet.com.

The previous week saw tax-exempt funds shed $2.22 billion and finish with $292.11 billion in assets

The average seven-day yield for the 476 funds reporting remained unchanged at 0.01% for the fourth week in a row, while the average maturity decreased one day to 32 days.

The 1,119 taxable money funds reporting began to recoup some of the previous week’s stiff losses, and grew to $2.319 trillion on $17.96 billion of inflows in the week ended Sept. 27. The previous week saw taxable funds end up with $2.301 trillion after hemorrhaging $25.96 billion.

The yield for the taxable funds remained at 0.02% for the ninth consecutive week, while the average maturity decreased one day to 39 days.

Overall, the combined assets of the 1,595 money funds in the report generated inflows of $15.13 billion and settled with $2.608 trillion, following the previous week’s $28.18 billion of losses that left the funds with $2.593 trillion.

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