Tax-exempt money market funds lost nearly half of what they gained last week, as investors yanked $2.63 billion in the week ended Sept. 12 and total net assets fell to $294.33 billion, according to the Money Fund Report, a service of iMoneyNet.com.
The previous week saw total net assets increase $1.70 billion to $296.96 billion.
The average seven-day simple yield for the 476 tax-exempt funds reporting remained at 0.01% for a second week, while the average maturity declined one day to 31.
Meanwhile, in the taxable market, $7.46 billion of inflows boosted assets to $2.327 trillion in the week ended Sept. 13, when funds gained back more than half of the $11.90 billion of outflows they suffered last week when total assets dropped to $2.320 trillion.
The average yield for the 1,119 taxable funds in the report was unchanged at 0.02% for the seventh week in a row, while the average maturity remained at 39 days.
Overall, the combined total net assets of the 1,595 money funds in the Money Fund Report gained $4.82 billion and ended with $2.621 trillion in the week ended Sept. 13.
The previous week saw the funds finish with $2.616 trillion in total net assets after losing $10.20 billion.
