On the heels of modest outflows last week, tax-exempt money market funds lost $4.66 billion and settled with $302.07 billion in total net assets for the week ended June 27, according to the Money Fund Report, a service of iMoneyNet.com.

In the previous week, investors withdrew $972.6 million and the tax-exempt funds ended with $306.73 billion.

The average seven-day simple yield for the 477 reporting tax-exempt funds remained at 0.02% for the seventh consecutive week, while the average maturity increased by one day to 26 days.

Assets of the 1,133 taxable reporting money funds dropped by $13.35 billion — half of last week’s losses — and closed with $2.358 trillion for the week ended June 28. The funds lost $26.52 billion and finished with $2.372 trillion in total net assets for the week ended June 21.

The yield for the taxable funds was unchanged at 0.02% for the 13th consecutive week, while the average maturity declined by two days to 41 days.

Overall, the combined assets of the 1,610 reporting money funds decreased by $18.01 billion and ended with total net assets of $2.661 trillion for the week ended June 28. The previous week ended with $2.678 trillion after $27.50 billion was yanked by investors.

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