Assets Back in Black (Almost) for 2014
The latest asset numbers show that money market mutual funds may be headed for another breakeven year -- year-to-date are down a mere $5 billion, or 0.2%, following the latest weekly jump. ICI's latest weekly "Money Market Fund Assets" says, "Total money market fund assets increased by $20.55 billion to $2.71 trillion for the five-day period ended Monday, December 22, the Investment Company Institute reported today. Among taxable money market funds, Treasury funds (including agency and repo) increased by $6.76 billion and prime funds increased by $12.95 billion. Tax-exempt money market funds increased by $850 million.... Assets of retail money market funds increased by $2.46 billion to $907.94 billion. Among retail funds, Treasury money market fund assets increased by $490 million to $199.18 billion, prime money market fund assets increased by $900 million to $519.24 billion, and tax-exempt fund assets increased by $1.07 billion to $189.52 billion. Assets of institutional money market funds increased by $18.10 billion to $1.81 trillion. Among institutional funds, Treasury money market fund assets increased by $6.27 billion to $798.43 billion, prime money market fund assets increased by $12.05 billion to $935.87 billion, and tax-exempt fund assets decreased by $220 million to $71.25 billion." Year-to-date, Institutional money fund assets have increased by $16 billion, or 0.9%, while Retail assets have declined by $21 billion, or 2.3%. Also, according to ICI's "Long-Term Mutual Fund Flows" for the week of December 17, shows big outflows for bond funds in the latest week and outflows for the second week in a row. It says, "Bond funds had estimated outflows of $9.40 billion, compared to estimated outflows of $3.29 billion during the previous week. Taxable bond funds saw estimated outflows of $10.35 billion, and municipal bond funds had estimated inflows of $950 million."
