Tax-exempt money market funds lost $530.1 million and settled at $286.24 billion in total net assets in the week ended Nov. 14, according to the Money Fund Report, a service of iMoneyNet.com.
Though modest, the outflows are a change from last week’s $2.36 billion gain, which brought assets to $286.77 billion and helped the funds recapture nearly all of the previous week’s losses.
The average seven-day simple yield for the 472 tax-exempt reporting funds remained unchanged at 0.01% for the 11th straight week, while the average maturity remained at 34 days.
The 1,119 taxable money funds saw $600.6 million of inflows, increasing total net assets to $2.327 trillion for the week ended Nov. 15. The week before, a hefty $29.52 billion influx boosted assets to $2.326 trillion, and more than made up for the $27.82 billion lost in the week ended Nov. 1.
The average yield for the reporting taxable funds was unchanged at 0.02% for the 16th week in a row, while the average maturity increased one day to 43 days.
Overall, the combined assets of the 1,591 reporting money funds increased by $70.5 million and settled at $2.613 trillion for the week ended Nov. 15, compared to last week’s inflows of $31.88 billion that brought total net assets to $2.612 trillion.