While the increases have been miniscule, money market mutual fund assets rose for the fifth week in a row in the week ended Wednesday. ICI's weekly "Money Market Mutual Fund Assets" says, "Total money market mutual fund assets increased by $3.70 billion to $2.834 trillion for the week ended Wednesday, August 25, the Investment Company Institute reported today. Taxable government funds increased by $3.76 billion, taxable non-government funds increased by $2.54 billion, and tax-exempt funds decreased by $2.59 billion."
The weekly release continues, "Assets of retail money market funds decreased by $3.40 billion to $966.47 billion. Taxable government money market fund assets in the retail category decreased by $670 million to $169.71 billion, taxable non-government money market fund assets decreased by $980 million to $589.93 billion, and tax-exempt fund assets decreased by $1.75 billion to $206.83 billion."
ICI adds, "Assets of institutional money market funds increased by $7.10 billion to $1.867 trillion. Among institutional funds, taxable government money market fund assets increased by $4.42 billion to $677.37 billion, taxable non-government money market fund assets increased by $3.52 billion to $1.058 trillion, and tax-exempt fund assets decreased by $850 million to $131.62 billion."
Over the past 5 weeks, money fund assets have increased by $35.7 billion, or 1.3%. Since April 28, which appears to be the point when outflows slowed to a trickle, money fund assets have declined a mere $39 billion, or 1.3%. Year-to-date, money fund assets remain down by $459 billion, or 14.0%. (Money fund assets declined by exactly 14.0% in 2009 too.) Institutional assets have declined by $358 billion, or 16.1% YTD, while Retail assets have declined by $101 billion, or 9.5%.
Total money fund assets have declined by $745 billion, or 20.8%, over the past 52 weeks; they've declined by $739 billion, or 20.7% over the past 104 weeks (2 years); but, assets have actually increased $226.9 billion, or 8.7% over the past 156 weeks (3 years). Since early August 2007, institutional money fund assets have increased by $307.2 billion, or 19.7%, while retail assets have decreased by $80.2 billion, or 7.7%.
