Tax-exempt money market funds posted the second-largest outflows of the year — and more than doubled last week’s losses — as the total invested fell $5.42 billion to $363.09 billion in net assets for the week ending April 19, according to the Money Fund Report, a service of iMoneyNet.com.

Income-tax season and low yields driving investors to seek higher-yielding investments are to blame for this week’s significant outflows, according to Connie Bugbee, managing editor of report.

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