Tax-exempt money market funds started the New Year on a positive note, amassing $3.66 billion in new cash to end the week ending Jan. 3 with $332.16 billion.

The infusion represents the third straight week of inflows since Dec. 15, according to the Money Fund Report, a service of

The funds closed 2010 with inflows of $1.61 billion and settled at $328.50 billion for the week ending Dec. 27, dwarfing the $16.7 million added during the week ending Dec. 20, when they ended with $326.90 billion in total net assets.

The iMoneyNet money fund average seven-day simple yield for the 481 reporting tax-exempt funds remained at 0.05%, while the average maturity declined by one day to 31 days.

Total assets among the 1,132 taxable money funds declined by $15.65 billion, causing total net assets to drop to $2.443 trillion in the week ending Jan. 4. That exodus followed $23.02 billion of inflows the previous week, when taxable funds finished 2010 with $2.458 trillion.

The iMoneyNet money fund yield for the taxable funds was unchanged at 0.03%. The average maturity declined by one day to 44 days.

Overall, the 1,613 tax-exempt and taxable money funds declined by $11.99 billion to finish the week of Jan. 4 with a combined $2.775 trillion in total net assets.

The funds rebounded strongly in the final week of 2010, attracting $24.63 billion to close the year with $2.787 trillion, following a loss of $28.55 billion the week ending Dec. 21.

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