Tax-exempt money market funds reported outflows of $1.19 billion in the week ended May 12, cutting total net assets to $257.73 billion according to The Money Fund Report, a service of iMoneyNet.com.
The outflows follow $1.29 billion of gains in the previous week, which ended a three week streak of outflows.
The average, seven day simple yield for the 420 weekly reporting funds was unchanged at 0.01%, while the average maturity remained at 30 days.
The total net assets of the weekly reporting 1,014 taxable money market funds grew by $3.88 billion to $2.380 trillion in the week ended May 13. The flows pale in comparison to the $22.50 billion that the funds raked in the previous week.
The average, seven-day simple yield for the taxable funds was steady at 0.01%, while the average maturity remained unchanged at 44 days.
Overall, the combined total net assets of the 1,434 weekly reporting money market funds increased by $2.69 billion to $2.638 trillion in the week ended May 13, as inflows decreased from $23.79 trillion the week before.
