MMF Assets Up 3rd Week in Row
Money market fund assets were up for the 4th week of the last 5, according to ICI in its latest weekly "Money Market Mutual Fund Assets" report. The release says, "Total money market fund assets increased by $3.14 billion to $2.62 trillion for the week ended Wednesday, June 3, the Investment Company Institute reported today. Among taxable money market funds, Treasury funds (including agency and repo) decreased by $4.07 billion and prime funds increased by $4.71 billion. Tax-exempt money market funds increased by $2.50 billion. Assets of retail money market funds increased by $590 million to $865.00 billion. Among retail funds, Treasury money market fund assets decreased by $900 million to $190.55 billion, prime money market fund assets increased by $100 million to $494.04 billion, and tax-exempt fund assets increased by $1.39 billion to $180.41 billion. Assets of institutional money market funds increased by $2.56 billion to $1.75 trillion. Among institutional funds, Treasury money market fund assets decreased by $3.17 billion to $771.48 billion, prime money market fund assets increased by $4.61 billion to $913.67 billion, and tax-exempt fund assets increased by $1.11 billion to $67.52 billion." It's the third straight week MMF assets have increased. However, year-to-date, assets are down $115 billion or 4.2%.
