Tax-exempt money market funds recouped most of last week’s losses, adding $2 billion and finishing with $326.39 billion in total net assets for the week ended Feb. 7, according to the Money Fund Report, a service of iMoneyNet.com.
This week’s inflows replace almost all of the $2.34 billion that fled the tax-exempt money fund industry in the week ended Jan. 31.
Meanwhile, the iMoneyNet average seven-day simple yield for the 481 tax-exempt money funds declined by one basis point to 0.03%, while the average maturity remained at 30 days, according to the report.
Among the 1,132 taxable money funds, $20.02 billion of inflows brought total net assets to $2.396 trillion for the week ended Feb. 8. That was up from $2.376 trillion for the previous week, when the funds lost $23.56 billion.
The yield was unchanged at 0.03%, while the average maturity increased one day to 46 days.
Overall, the combined assets of the 1,613 reporting money funds gained $22.05 billion and finished the Feb. 8 week with total net assets of $2.723 trillion. That figure was down from $25.90 billion of outflows the week before that dropped assets $2.701 trillion.