Money market mutual fund assets decreased for the first time in 5 weeks, according to ICI's latest "Money Market Mutual Fund Assets" report. It says, "Total money market fund assets decreased by $16.10 billion to $2.68 trillion for the week ended Wednesday, September 2, the Investment Company Institute reported today. Among taxable money market funds, Treasury funds (including agency and repo) decreased by $18.60 billion and prime funds increased by $1.22 billion. Tax-exempt money market funds increased by $1.28 billion. Assets of retail money market funds increased by $6.44 billion to $894.41 billion. Among retail funds, Treasury money market fund assets increased by $2.16 billion to $202.87 billion, prime money market fund assets increased by $3.14 billion to $510.29 billion, and tax-exempt fund assets increased by $1.14 billion to $181.25 billion. Assets of institutional money market funds decreased by $22.54 billion to $1.78 trillion. Among institutional funds, Treasury money market fund assets decreased by $20.76 billion to $788.05 billion, prime money market fund assets decreased by $1.92 billion to $927.25 billion, and tax-exempt fund assets increased by $140 million to $68.47 billion." Year-to-date, money fund assets are down $55 billion, or 2.0%. Month-to-date, from July 29 through September 2, assets are up $30 billion. In other news, a press release entitled, "Fitch Assigns New Ratings to Four Deutsche Money Funds" says, "Fitch has assigned new 'AAAmmf' to four money market funds managed by Deutsche Asset & Wealth Management under the Ireland-domiciled Deutsche Global Liquidity Series plc umbrella fund: Deutsche Managed Euro Fund: 'AAAmmf', Deutsche Managed Sterling Fund: 'AAAmmf', Deutsche Managed Dollar Fund: 'AAAmmf', and Deutsche Managed Dollar Treasury Fund: 'AAAmmf(EXP)'." It continues, "The 'AAAmmf' money market fund ratings reflect the funds' extremely strong capacity to achieve the investment objectives of preserving principal and providing shareholder liquidity through limiting credit, market and liquidity risk.... The funds had approximately EUR6.3bn, GBP8.1bn and USD15.6bn respectively in assets under management as of 18 August 2015."
