After a short-lived period of inflows, tax-exempt money market funds lost $1.93 billion and total net assets dipped to $288.75 billion in the week ended Feb. 27, according to the Money Fund Report, a service of iMoneyNet.com.

The outflows arrived on the heels of $1.2 billion of new cash last week when total net assets finished at $290.69 billion. Last week’s inflows recouped half of the $2.44 billion in losses suffered in the week ended Feb. 13 when assets closed at $289.48 billion.

Meanwhile, the average seven-day simple yield for the 454 reporting tax-exempt money funds remained at 0.01% for the 26th week in a row, while the average maturity decreased by one day to 28 days.

Assets of the 1,108 taxable reporting funds rose by $15.18 billion to $2.351 trillion in the week ended Feb. 28, following a week that saw a $6.94 billion flee the funds and total net assets settle at $2.336 trillion.

The average seven-day simple yield for the taxable funds remained at 0.03% for the fourth week, while the average maturity decreased by one day to 45 days.

Overall, the combined assets of the 1,562 reporting money funds rose by $13.25 billion to $2.640 trillion in the week ended Feb. 28. That followed a week that saw $5.74 billion flee the funds and total net assets to settle at $2.626 trillion.

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