Money Fund Assets Drop Sharply
ICI's latest weekly "Money Market Mutual Fund Assets" report says, "Total money market mutual fund assets decreased by $25.04 billion to $2.587 trillion for the week ended Wednesday, June 19, the Investment Company Institute reported today. Taxable government funds decreased by $11.42 billion, taxable non-government funds decreased by $14.02 billion, and tax-exempt funds increased by $400 million." Retail assets rose for the second week in a row as Institutional assets dropped sharply. ICI adds, "Assets of retail money market funds increased by $4.43 billion to $919.19 billion. Taxable government money market fund assets in the retail category increased by $230 million to $197.21 billion, taxable non-government money market fund assets increased by $3.74 billion to $530.05 billion, and tax-exempt fund assets increased by $460 million to $191.93 billion.... Assets of institutional money market funds decreased by $29.47 billion to $1.668 trillion. Among institutional funds, taxable government money market fund assets decreased by $11.65 billion to $700.54 billion, taxable non-government money market fund assets decreased by $17.76 billion to $896.17 billion, and tax-exempt fund assets decreased by $60 million to $70.95 billion." In other news, see IBD's "Critics Rap Proposed SEC Limits On Money Market Funds".
