Last week, the Securities and Exchange Commission released its "Money Market Fund Statistics" report for April, which shows total MMF assets down in April and yields up slightly. The report, with data as of April 30, 2015, summarizes Form N-MFP data and which includes totals on assets, yields, liquidity, WAM, WAL, holdings, and other money market fund trends. The data is produced by the SEC's Division of Investment Management. Overall, total money market fund assets stood at $2.936 trillion at the end of April, down $73.7 billion from March 31, according to the SEC's broad total (which includes many private and internal funds not reported to ICI, Crane Data or other reporting agencies). Of the $2.936 trillion, $1.704 trillion was in Prime funds (up $16.8B from March 31), $979.4B was in Government/Treasury funds (down $14.7B), and $252.2 billion was in Tax-Exempt funds down $14.7B). Taking a closer look at money market fund assets, total assets were down $145.0 billion year to date through April 30. Prime assets were down $68.2 billion year-to-date through April 30, while Government/Treasury MMF assets were down $58.7 billion year-to-date. Tax exempt assets were down $18.0 billion year-to-date. The number of money funds was 542, same as last month. Looking at other statistics, the Weighted Average Gross 7-Day Yield for Prime Funds on April 30 was 0.22% (up from 0.21% last month), 0.10% for Government/Treasury funds (unchanged), and 0.12% for Tax-Exempt funds (up from 0.06% and 0.07% on Jan 1). The Weighted Average Net Prime Yield was 0.06% -- same as last month. The Weighted Average Prime Expense Ratio was 0.16% (unchanged). The Weighted Average Life, or WAL, for Prime funds at month-end was 76.3 days (down from 77.5 last month), for Government/Treasury funds was 82.2 days (up from 81.9 days), and for Tax Exempt funds was 30.8 days (down from 32.1 days). The Weighted Average Maturity, or WAM, for Prime funds was 39.6 days (down from 41.6 days), for Govt/Treasury funds was 42.8 days (down from 44.2 days), and for Tax-Exempt funds was 29.1 days (down from 30.6 days). Total Daily Liquidity for Prime funds was 24.6% in April -- down from 25.1% last month. Total Weekly Liquidity was 39.8%, up from 38.8% last month. In the category Prime MMF Holdings of Bank Related Securities by Country, Canada topped the list with $205.0 billion, followed by the US at $197.0 billion. Japan was third with $172.9 billion, jumping ahead of France with $167.3 billion. The UK was fifth with $106.6 billion, followed by Sweden ($102.1B), Australia/New Zealand ($95.4B), Switzerland ($56.9B), The Netherlands ($55.9B), and Germany ($47.4B). The biggest gainers for the month were France (up $44.8B), UK (up $38.7B), and Norway ($18.8B). The biggest drops came from The Netherlands (down $7.4B), Japan (down $6.6B), and Canada ($5.3B). For Prime MMF Holdings of Bank-Related Securities by Region, Europe had $586.5 billion (up $118.5B from the previous month) while its subset, the Eurozone, had $286.5 (up $37.8B). The Americas was next with $404.8 billion (up $3.4B), while Asia and Pacific had $290.8 (down $11.2B). The Total Amortized Cost of Prime MMF Portfolios was $1.703 trillion as of April 30, 2015. That was made up of $564.3 billion in CDs, $350.5 billion in Government (including direct and repo), $439.6 billion in Non-Financial CP and Other Short term Securities, $258.4 billion in Financial Company CP, and $90.3 billion in ABCP. Also, the Proportion of Non-Government Securities in All Taxable Funds was 50.7% at month-end, up from 45.3% the previous month. All MMF Repo with Federal Reserve was $121.2 billion on April 30, down from $366.7 billion on March 31. Finally, the Trend in Longer Maturity Securities in Prime MMFs said 42.2% were in maturities of 60 days and over, while 11.2% were in maturities of 180 days and over.
