ICI's latest weekly "Money Market Mutual Fund Assets" says, "Total money market mutual fund assets decreased by $34.37 billion to $2.675 trillion for the week ending Wednesday, December 18, the Investment Company Institute reported today. Taxable government funds decreased by $7.43 billion, taxable non-government funds decreased by $29.98 billion, and tax-exempt funds increased by $3.04 billion.... Assets of retail money market funds increased by $4.07 billion to $925.77 billion. Taxable government money market fund assets in the retail category increased by $560 million to $199.54 billion, taxable non-government money market fund assets increased by $1.80 billion to $531.75 billion, and tax-exempt fund assets increased by $1.72 billion to $194.48 billion.... Assets of institutional money market funds decreased by $38.45 billion to $1.750 trillion. Among institutional funds, taxable government money market fund assets decreased by $7.99 billion to $732.76 billion, taxable non-government money market fund assets decreased by $31.78 billion to $941.34 billion, and tax-exempt fund assets increased by $1.32 billion to $75.45 billion." Money fund assets had risen for 3 weeks straight (up $47 billion over this period) prior to this decline, which we believe was based on normal mid-month payroll and tax outflows, coupled with possible weather-related outflows. YTD, MMF assets are up just $10 billion, or 0.4%.

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