Tax-exempt money market funds recorded their biggest inflow in more than a year as total net assets soared by $3.84 billion to $267.96 billion in the week ended Aug. 5, according to The Money Fund Report, a service of iMoneyNet.com.

It was the biggest weekly inflow since a $4.64 billion gain in the week ended July 8, 2012, and beat the previous 2013 high, set a month ago when the industry accumulated $3.60 billion in the week ended July 8 amid a barrage of outflows that has continued for most of this year.

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