Municipal money market funds started 2008 with a boost, reaching record assets under management with inflows of $10.713 billion for the week ending Jan 7.

The increase in assets puts the total in tax-free money market funds at $480.43 billion, according to the Money Fund Report. This is up from last week, which saw losses of over $6 billion to cap off 2007. The report monitors 549 funds.

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