In what was the first sizable inflow activity in nearly a month, tax-exempt money market funds increased by $1.94 billion as total net assets grew to $270.25 billion for the week ended Sept. 10, according to the Money Fund Report, a service of iMoneyNet.com.
The inflows more than recaptured last week’s losses of $1.70 billion, which caused total net assets to decrease to $268.31 billion. It was also the first inflow activity since a modest $124.8 million arrived in the week ended Aug. 20, when assets settled at $272.46 billion.
The average, seven-day simple yield for the 438 tax-exempt reporting money funds remained at 0.01% for the 15th consecutive week, while the average maturity decreased one day to 38 days compared to last week.
Meanwhile, the total net assets of the 1,062 reporting taxable money funds swelled by $17.73 billion to $2.288 trillion in the week ended Sept. 11. That followed a week in which they lost $13.19 billion and total net assets declined to $2.271 trillion.
The average, seven-day simple yield for the taxable funds rose by one basis point to 0.03% from the previous week, while the average maturity was unchanged at 46 days.
Overall, the combined assets of the 1,500 reporting money funds rose by $19.67 billion in the week ended Sept. 11 as total net assets inched up to $2.559 trillion. Those followed on the heels of the $15.08 billion in outflows in the previous week when total net assets dipped to $2.539 trillion.