Tax-exempt money market funds lost roughly half of the inflows they accumulated last week, as $2.47 billion of outflows reduced total net assets to $272.24 billion in the week ended Jan. 13, according to The Money Fund Report, a service of iMoneyNet.com.
After ending 2013 on a positive note, tax-exempt money market funds continued with a strong start into the New Year last week, as inflows of $4.86 billion boosted total net assets to $274.71 billion in the week ended Jan. 6.
The funds closed 2013 with total net assets of $269.85 billion after the arrival of a modest $608.5 million in the week ended Dec. 30.
The average seven-day yield for the 420 weekly reporting money funds remained at 0.01%, while the average maturity remained at 35 days.
Among the 1,012 weekly reporting taxable money funds, total net assets finished at $2.418 trillion after a $8.78 billion outflow in the week ended Jan. 14. That followed $8.47 billion of outflows to start the year.
The average seven-day yield for the taxable money funds was also unchanged at 0.01%, while the average maturity remained at 47 days.
Overall, the combined total net assets of the 1,432 weekly reporting money funds declined by $11.25 billion and settled at $2.690 trillion in the week ended Jan. 14The previous week assets fell by $3.62 billion to $2.701 trillion.
