Tax-exempt money market funds had $411 million inflow in the week ended June 3 as total net assets settled at $257.84 billion, according to The Money Fund Report, a service of iMoneyNet.com.
Tax-exempt money market funds continue to struggle to recoup the billions that exited the industry since the beginning of the year particularly the $17.21 billion it shed during the four-week tax-season that began on April 1.
This week's inflows contrast with the $1.84 billion outflow last week.
The average, seven-day simple yield for the 423 reporting tax-exempt money funds remained at 0.01%, while the average maturity decreased by one day to 28 days.
The 1,026 reporting taxable money market funds, took in $9.36 billion in the week ended June 4 as total net assets increased to $2.339 trillion. That compares to the prior week's $5.48 billion of inflows that brought total net assets to $2.330 trillion.
The average, seven-day simple yield for the taxable money funds held at 0.01%, while the average maturity decreased by one day to 48 days.
Overall, the combined assets of the 1,449 reporting money funds grew by $9.77 billion as total net assets increased to $2.597 trillion in the week ended June 4, versus inflows of $3.64 billion in the prior week when total net assets closed at $2.587 trillion.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access