The assets of tax-exempt money market funds fell $149.4 million to $482.12 billion for the week ending March 2, according to the Money Fund Report, a service of iMoneyNet.com.

The decline mirrored last week's trend that saw outflows slow considerably to $151.1 million, which caused funds to settle at $482.27 billion in total assets, versus outflows of $4.31 billion for the week ending Feb. 16 when the funds ended at $482.42 billion.

The average, seven-day simple yield for the 508 tax-exempt funds in the report inched up two basis points to 0.40% from 0.38% last week. Meanwhile, the average maturity remained the same at 26 days.

The 1,217 taxable funds increased by $4.18 billion to settle at $3.343 trillion for the week ending March 3. That compared to inflows of $29.78 billion for the week ending Feb. 23, when taxable funds ended at $3.338 trillion, according to the report.

Overall, inflows of $4.03 billion caused the total assets of the 1,725 money funds in the report to end at $3.825 trillion. That's up slightly from last week's $3.821 trillion when the funds gained $29.63 billion for the week ending Feb. 24.

 

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