Besides the usual weekly outflows that have been recurring of late, the money market fund industry became a casualty of seasonal outflows as significant withdrawals by individuals and corporations signaled the arrival of the filing deadline for federal income tax season in the week ended April 15, according to The Money Fund Report.
The total net assets for tax-exempt reporting money market funds declined to $269.49 billion following the loss of $3.63 billion in the week ended April 15, according to the report, a service of iMoneyNet.com.
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