Outflows of $1.87 billion for the week ending March 30 caused tax-exempt money market funds to start the second quarter with $482.57 billion in total assets, according to the Money Fund Report, a service of iMoneyNet.com.

The average, seven-day simple yield of the 508 tax-exempt funds in the report inched up to 0.34% from 0.33% for the week ending March 23, while the average maturity declined by one day to 24 days. Last week, tax-exempt funds lost $1.32 billion and ended the week of March 23 with $484.44 billion in total assets, according to the report.

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