ICI's Money Market Fund Holdings
The Investment Company Institute released its latest "Money Market Fund Holdings" summary (with data as of Sept. 30, 2016), which reviews the aggregate daily and weekly liquid assets, regional exposure, and maturities (WAM and WAL) for Prime and Government money market funds. (See our Sept. 13 News, "Sept. Portfolio Holdings: CDs, CP Plunge in Aug., Repo, T-Bills Jump.") ICI's release explains, "The Investment Company Institute (ICI) reports that, as of the final Friday in September, prime money market funds held 42.1 percent of their portfolios in daily liquid assets and 62.2 percent in weekly liquid assets, while government money market funds held 61.2 percent of their portfolios in daily liquid assets and 75.3 percent in weekly liquid assets." It says, "At the end of September, prime funds had a weighted-average maturity of 26 days and a weighted-average life of 42 days. Average WAMs and WALs are asset-weighted. Government money market funds had a weighted-average maturity of 42 days and a weighted-average life of 95 days." On Holdings By Region of Issuer, it adds, "Prime money market funds' holdings attributable to the Americas declined from $318.04 billion in August to $256.53 billion in September. Government money market funds' holdings attributable to the Americas rose from $1,476.63 billion in August to $1,759.69 billion in September." The Prime Money Market Funds by Region of Issuer table shows Americas at $256.5 billion, or 49.9%; Asia and Pacific at $79.7 billion, or 15.5%; Europe at $174.3 billion, or 33.9%; and Other (including Supranational) at $3.4 billion, or 0.7%. The Government Money Market Funds by Region of Issuer table shows Americas at $1.760 trillion, or 87.9%; Asia and Pacific at $53.6 billion, or 2.6%; and Europe at $186.7 billion, or 9.3%. The release explains, "Each month, ICI reports numbers based on the Securities and Exchange Commission's Form N-MFP data. The report includes all money market funds registered under the Securities Act of 1933 and the Investment Company Act of 1940, that are publicly offered. All master funds are excluded, but feeders are apportioned from the corresponding master and included in the report." In other news, the Office of Financial Research has updated its Money Market Fund Monitor with September 2016 data.
