ICI Shows Big Asset Drop
Money fund assets declined for the third week in a row. ICI's latest weekly "Money Market Mutual Fund Assets" says, "Total money market mutual fund assets decreased by $31.38 billion to $2.646 trillion for the week ending Wednesday, March 19, the Investment Company Institute reported today. Taxable government funds decreased by $13.10 billion, taxable non-government funds decreased by $19.24 billion, and tax-exempt funds increased by $960 million. Assets of retail money market funds increased by $1.43 billion to $915.09 billion. Taxable government money market fund assets in the retail category increased by $450 million to $197.44 billion, taxable non-government money market fund assets increased by $490 million to $522.87 billion, and tax-exempt fund assets increased by $490 million to $194.77 billion. Assets of institutional money market funds decreased by $32.80 billion to $1.731 trillion. Among institutional funds, taxable government money market fund assets decreased by $13.55 billion to $725.27 billion, taxable non-government money market fund assets decreased by $19.73 billion to $928.73 billion, and tax-exempt fund assets increased by $470 million to $77.06 billion." Money fund assets have declined by $73 billion, or 2.7%, YTD, and they've declined in 8 out of 11 weeks so far in 2014.
