Seasonal outflows slowed for tax-exempt money market funds as $4.49 billion escaped the industry and total net assets settled at $259.42 billion in the week ended April 29, according to The Money Fund Report, a service of iMoneyNet.com.

Outflows declined from the previous week, when $5.58 billion of cash fled the industry, the most in four years, as funds suffered the seasonal effect of federal income tax season. In the week ending April 30 last year, tax-exempt money market funds had $4.8 billion of outflows.

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