Tax-free money market funds continued to see positive growth for the week ending March 24, gaining $1.26 billion, down from last week's $5.22 billion increase, according to Money Fund Report, a service of iMoneynet.com.
As a result, total assets of the 547 tax-free money market funds in the report increased to $489.58 billion, up slightly from $488.31 billion last week.
The seven-day average yield for the funds declined to 2.04%, down 29 basis points from 2.33%.
Taxable money market funds, meanwhile, saw $52.32 billion in inflows for the week ending March 25 after losing $3.50 billion the previous week. Total assets grew to a record $2.97 trillion compared with a $2.91 trillion the week before.
Overall, the 1,826 money market funds combined took in $53.58 billion.
Money market funds reached a new record of $3.459 trillion in total assets - up slightly from last week's record of $3.406 trillion.
