Tax-exempt money market funds struggled to hang onto the previous weeks gains as $1.72 billion exited the industry and total net assets settled at $258.36 billion in the week ended May 13, according to The Money Fund Report, a service of iMoneyNet.com.
This weeks decrease offset some of the $667.90 million that trickled back into tax-exempt money funds last week following $4.49 billion of outflows in the week ended April 29 at the tail end of income tax season -- a period typically characterized by heavy declines in assets.
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