The total assets of tax-free money market funds thinned to $341.34 billion following outflows of $4.99 billion during the week ending Aug. 16, according to the Money Fund Report, a service of iMoneyNet.com.
Last week, the funds ended with $346.33 billion after inflows of $941.5 million. That inflow helped them rebound from a $760.2 million exodus in the week ending Aug. 2.
The average, seven-day simple yield for the 493 tax-exempt money funds reporting this week held steady at 0.03%, and the average maturity was unchanged at 28 days.
Assets of the 1,148 taxable money funds in the report rose by just $413.5 million to settle at $2.46 trillion for the week ending Aug. 17. That followed inflows of $9.35 billion the previous week as money funds fattened to $2.45 trillion.
The average, seven-day simple yield for taxable funds remained at 0.04% for the ninth consecutive week.
Overall, the 1,641 money funds reporting lost a combined $4.58 billion of assets the week ending Aug. 17 and settled at $2.79 trillion — slightly shy of the $2.80 trillion tally achieved the previous week after a combined $10.29 billion of inflows.
