In the sixth week of net outflow activity, tax-exempt money market funds decreased by $1.88 billion and total net assets settled at $278.20 billion in the week ended Feb. 18, according to The Money Fund Report, a service of iMoneyNet.com.
The outflows continued the recent pattern -- albeit came in slightly less than last week’s $2.40 billion of outflows than caused total net assets to decline to $280.07 billion.
The average, seven-day simple yield for the 431 reporting tax-exempt money funds was unchanged from the prior week at 0.01%, while the average maturity was unchanged at 32 days.
Meanwhile, $30.64 billion poured out of the 1,039 taxable money funds as total net assets dipped to $2.359 trillion from $2.389 trillion. That followed net outflows in the previous week of $3.54 billion.
The average, seven-day simple yield for the taxable funds remained at 0.02% from the prior week, while the average maturity remained at 48 days.
Overall, the total combined assets of the 1,470 reporting money funds fell by $32.51 billion as total net assets decreased to $2.637 trillion in the week ended Feb. 19, which was down from $2.669 trillion in the prior week after $5.95 billion of outflows.