Money market mutual fund assets continued to climb in the latest week, rising $34.49 billion to a record $3.777 trillion, according to the ICI's latest weekly statistics. This marks the 11th consecutive weekly increase. Money fund totals have risen by $320.3 billion, or 9.3%, since October 1. Year-to-date, money fund assets have increased by $632.5 billion, or 20.1%.
Institutional funds continued to lead the surge, rising $35.53 billion to a record $2.495 trillion. General Purpose (or "Prime") Institutional funds continued their recovery and led the move higher, rising $23.1 billion, or 2.1%, to $1.134 trillion. Government Institutional funds (including Treasury funds) rose $14.39 billion, or 1.24%, to $1.175 trillion. Tax Exempt Institutional funds declined by $1.96 billion to $186.5 billion.
Retail money fund assets declined by $1.0 billion to $1.282 trillion. General Purpose Retail funds rose $1.2 billion to $717.0 billion, Government Retail funds fell $296 million to $266.7 billion, and Tax Exempt Retail funds fell by $1.9 billion to $298.4 billion. ICI's data tracks 1,983 funds through the week ended Wednesday.
Crane Data's Money Fund Intelligence Daily shows asset growth slowed yesterday, as funds prepare for tax-related outflows on the 15th of the month. Our Daily series increased $2.6 billion. Outflows are appearing in the Treasury Individual sector (down $3.0 billion yesterday and down $5.3 billion on the day), and Prime Institutional funds continue to gain assets (up $2.97 billion yesterday and up $20.9 billion in the week through Thursday).
In other news, the Federal Reserve's weekly H.4.1 series shows that usage of its Asset-backed commercial paper money market mutual fund liquidity facility continued to fall, declining $11.1 billion to $40.8 billion. Its new Money market investor facility continues to go unused with zero assets. Both numbers indicate that money funds and money markets continue their return to normalcy. (See also Bloomberg's story.)
