Tax-exempt money market funds suffered losses for the fifth consecutive week as $2.40 billion escaped the industry in the week ended Feb. 11 and total net assets finished with $280.07 billion, according to The Money Fund Report, a service of iMoneyNet.com.

In the previous week, by comparison, although outflows tapered off to $201.3 million they came on the heels of significant losses of between $2 billion and $4 billion in the three prior weeks.

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