Tax-exempt money market funds saw inflows of $3.19 billion for the week ending Jan. 12, settling at $503.24 billion in total assets, according to the Money Fund Report. The total was slightly higher than the previous week, which saw inflows of $8.23 billion and settled at $500.05 billion.

The 514 tax-free funds saw the average seven-day yield drop to 0.41% from 0.71% - the lowest level since March 15, 2004, according to the report, a service of of Westborough, Mass. The average maturity remained unchanged at 28 days.

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