Tax-exempt money market funds continued their losing streak again this week as they posted $1.31 billion of withdrawals — a little more than half of last week’s outflows — and total net assets dropped to $286.7 billion in the week ended Oct. 24, according to the Money Fund Report, a service of iMoneyNet.com.

The outflows were a little more than half of the $2.50 billion of losses the funds suffered last week when assets fell to $288.10 billion.

The average seven-day simple yield for the 472 tax-exempt funds remained at 0.01% for the eighth straight week, while the average maturity remained at 34 days.

Meanwhile, the 1,120 taxable money funds garnered inflows of $5.47 billion as total net assets rose to $2.32 trillion in the week ended Oct. 25. That followed $3.58 billion of inflows and an asset rise of $2.319 trillion in the week ended Oct. 18.

The seven-day yield was unchanged at 0.02% for the 13th week straight, while the average maturity increased one day to 42 days.

Overall, the combined assets of the 1,592 reporting money funds grew by $4.16 billion — nearly four times more than last week’s inflows — and finished with $2.611 trillion for the week ended Oct. 25. The previous week saw investors add $1.08 billion of cash and total net assets increased to $2.606 trillion.

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