After pulling in $2.98 billion last week, tax-exempt money market funds lost $1.84 billion and settled with $307.71 billion in total net assets for the week ended June 13, according to the Money Fund Report, a service of iMoneyNet.com.
In contrast, last week nearly $3 billion of inflows boosted assets to $309.54 billion. The average, seven-day simple yield for the 477 tax-exempt funds in the report remained at 0.02% for the fifth consecutive week, while the average maturity increased to 24 days from 23 days.
Total net assets of the 1,136 taxable funds, meanwhile, declined by $10.36 billion to $2.398 trillion in the week ended June 14, reversing the hefty inflows of $12.98 billion in the week ended June 7 , which raised total assets to $2.408 trillion.
The average, seven-day simple yield for the taxable funds was unchanged again at 0.02% for the 11th week straight, while the average maturity remained at 44 days.
Overall, the combined assets of the 1,613 money funds fell by $12.20 billion and ended with $2.706 trillion in the week ended June 14. That represented a major turnaround from the previous week, which saw funds take in $15.89 billion and end with $2.718 trillion, according to the report.