Money market funds continued their winning streak as assets increased for the fourth straight week and the 7th week out of 8, according to ICI's latest "Money Market Fund Assets" report. The release says, "Total money market fund assets increased by $9.06 billion to $2.64 trillion for the week ended Wednesday, November 12, the Investment Company Institute reported today. Among taxable money market funds, Treasury funds (including agency and repo) decreased by $1.49 billion and prime funds increased by $11.09 billion. Tax-exempt money market funds decreased by $550 million. Assets of retail money market funds decreased by $3.1 billion to $899.85 billion. Among retail funds, Treasury money market fund assets decreased by $1.02 billion to $199.40 billion, prime money market fund assets decreased by $2.07 billion to $516.34 billion, and tax-exempt fund assets decreased by $230 million to $184.12 billion. Assets of institutional money market funds increased by $12.37 billion to $1.74 trillion. Among institutional funds, Treasury money market fund assets decreased by $460 million to $759.39 billion, prime money market fund assets increased by $13.16 billion to $915.74 billion, and tax-exempt fund assets decreased by $320 million to $69.10 billion." Year-to-date, money market mutual funds assets have declined by $75 billion, or 2.7%, but they've increased by $79 billion ($74 billion of which came from institutional assets), or 3.1%, since July 23, the date the SEC passed its most recent Money Fund Reforms. Over the past 4 weeks, money funds assets have increased by $34.8 billion, according to ICI's data, and assets have increased by $80 billion over the past 3 months, according to our Money Fund Intelligence XLS. Money fund assets have grown strongly during the second half of the year over the past three years, following seasonal weakness in the first half.
