Money market funds posted inflows of $13.39 billion for the week that ended Tuesday, as seven-day yields on taxable funds fell below 0.5% for the first time, according to Informa PLC's iMoneyNet.
Total assets rose to $3.834 trillion after falling in the previous week for the first time in more than a month, iMoneyNet said Wednesday in its Money Fund Report.
Taxable funds recorded $21.08 billion of inflows, including $7.29 billion into prime funds, while tax-free funds recorded outflows of $7.69 billion as yields remained at a record low.
Taxable money market fund had $3.341 trillion of assets as of Tuesday.
In prime funds, which invest in securities such as commercial paper, institutional investors added $8.75 billion, while individual investors took out $1.46 billion.
Government funds saw $13.78 billion of inflows, according to iMoneyNet, as yields again fell for both institutions and individuals.
Other rates for short-term money market retail funds continued to decline. The seven-day simple yield on all taxable funds fell 7 basis points, to a record 0.48%. The previous low of 0.5% was set in August 2003. The 30-day yield fell 7 basis points, to 0.59%.
The average tax-free fund yield remained a record low of 0.29% on seven-day funds and fell 14 basis points on 30-day funds, to 0.46%.
