Tax-exempt money market funds grew by a scant $124.8 million — a slight improvement from the week before — as total net assets settled at $272.46 billion in the week ended Aug. 20, according to the Money Fund Report, a service of iMoneyNet.com.
Outflows of $1.61 billion last week caused total net assets to decline to $272.33 billion, on the heels of $4.05 billion of inflows in the week ended Aug. 6, when assets finished at $273.94 billion.
The average, seven-day simple yield for the 438 tax-exempt money funds remained at 0.01% for the 12th week in a row, while the average maturity increased two days to 35 days.
Meanwhile, among the 1,079 reporting taxable money market funds, inflows of $3.80 billion caused total net assets to increase to $2.285 trillion. The flows pale in comparison to the previous week when $20.94 billion of inflows boosted total net assets to $2.280 trillion.
The average, seven-day simple yield for the taxable funds remained at 0.02% for the second week in a row, while the average maturity increased one day to 47 days.
Overall, the combined assets of the 1,517 reporting money funds rose by $3.92 billion as total net assets settled at $2.557 trillion. That compares to the previous week when the funds finished with total net assets of $2.553 trillion after $19.34 billion of inflows.