Money market funds netted $10.71 billion in the week ended March 11, even as the seven-day simple yield fell to a record low of 29 basis points. Assets in money funds now total $3.835 trillion.

For the past seven weeks, the yield has been below 50 basis points, the lowest since iMoneyNet began tracking money fund yields in 1975.

Taxable funds took in $7.06 billion, hitting a record $3.35 trillion. Within this category, prime funds rose by $9.21 billion, and government funds lost $2.15 billion. Tax-free funds reaped $3.65 billion.

The latest data from the Investment Company Institute, for the week ended March 4, shows that long-term mutual funds lost $21.17 billion, fueled by $19.75 billion in withdrawals from stock funds.

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