Although outflows among tax-exempt money market funds slowed considerably during the week ending Feb. 23, the funds settled at $482.27 billion in total assets after losing $151.1 million, according to the Money Fund Report, a service of iMoneyNet.com.

Last week, by comparison, the funds lost $4.31 billion and settled at $482.42 billions.

The average seven-day simple yield for the 508 tax-free money funds in the report inched up to 0.38% from 0.31% in the previous week. The average maturity increased to 28 days from 26 days.

Taxable money market funds gained $29.78 billion, settling at $3.338 trillion in assets for the week ending Feb. 24, compared with outflows of $34.35 billion to $3.309 trillion for the week ending Feb. 17.

The average, seven-day simple yield for taxable money funds set another all-time low, slipping to 0.33% from the previous record of 0.37% set in the week before.

Overall, the combined assets of the 1,730 money market funds in the report gained $29.63 billion to settle at $3.821 trillion in assets for the week ending Feb. 24, compared with $3.791 trillion for the week ending Feb. 17 after suffering outflows of $38.66 billion.

 

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