Money market funds bled $114 billion in the first quarter, the biggest quarterly outflow since the second quarter of 2010, according to a report released by Morningstar, Inc.

The report, titled the Morningstar Direct Asset Flows Update, showed that long-term funds took in $29.3 billion in March to end the quarter with inflows of $106.3 billion, but outflows continued for U.S.-stock funds for the eleventh straight month.

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