Prime MMFs See First Inflow in 4 Mos.
ICI's latest "Money Market Fund Assets" report shows an increase in Prime money fund assets for the first time since July 13. The release says, "Total money market fund assets increased by $5.88 billion to $2.68 trillion for the week ended Wednesday, November 9, the Investment Company Institute reported today. Among taxable money market funds, government funds increased by $3.06 billion and prime funds increased by $2.69 billion. Tax-exempt money market funds increased by $130 million." It explains, "Assets of retail money market funds increased by $11.34 billion to $964.51 billion. Among retail funds, government money market fund assets increased by $8.83 billion to $587.26 billion, prime money market fund assets increased by $2.31 billion to $252.27 billion, and tax-exempt fund assets increased by $190 million to $124.97 billion.... Assets of institutional money market funds decreased by $5.46 billion to $1.72 trillion. Among institutional funds, government money market fund assets decreased by $5.77 billion to $1.59 trillion, prime money market fund assets increased by $380 million to $123.16 billion, and tax-exempt fund assets decreased by $70 million to $4.21 billion." In the 16 weeks prior to this week, Prime MMF assets declined by $663 billion, and they've declined by $1.083 trillion since 10/31/15.
