Tax-exempt money market funds posted only modest gains this week, increasing by $718.2 million and ending with $327.09 billion in total net assets, but that halted a month-long streak of outflows in the week ending Nov. 8, according to the Money Fund Report, a service of iMoneyNet.com.
By comparison, for the week ending Nov. 1, tax-exempt funds lost $361.2 million and finished with $326.37 billion in assets.
Those outflows were significantly less than the $1.25 billion suffered in the week ending Oct. 25, when they finished with $326.73 billion.
The last time tax-exempt money funds experienced inflows was in the week ending Oct. 4, when they rose $476.9 to $332.1 billion.
In the three weeks before those inflows, losses ranged from $1.8 billion to as much as $2.7 billion.
The iMoneyNet money fund average seven-day simple yield for the 485 tax-free and muni money market funds reporting slipped one basis point to 0.03% from last week, while the average maturity remained at 33 days.
Taxable funds grew $15.2 billion to end the week of Nov. 9 with $2.456 trillion. The previous week saw outflows of $15.35 billion that trimmed total assets to $2.441 trillion.
The seven-day simple yield for the 1,144 taxable money-market funds in the report was unchanged at 0.03%, while the average maturity increased to 48 days from 47 the week before.
Total money market fund assets regained slightly more than last week’s total losses with inflows of $15.92 billion to finish the week of Nov. 9 with total net assets of $2.784 trillion.
Last week, the funds lost $15.71 million and ended with $2.767 trillion.
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