Prime MMFs Assets Rise Again
Prime money market mutual fund assets rose by $3.5 billion in the latest week, their 6th increase in the past 7 weeks (up $13.1 billion). ICI's latest weekly "Money Market Fund Assets" report says, "Total money market fund assets decreased by $3.23 billion to $2.68 trillion for the week ended Wednesday, February 8, the Investment Company Institute reported today. Among taxable money market funds, government funds decreased by $6.69 billion and prime funds increased by $3.49 billion. Tax-exempt money market funds decreased by $20 million." Total Government MMF assets, which include Treasury funds too and which represent 80.6% of all money funds, stand at $2.157 trillion, while Total Prime MMFs, which total 14.5%, stand at $388.0 billion. Tax Exempt MMFs total $131.5 billion, or 4.9%. It explains, "Assets of retail money market funds increased by $2.59 billion to $979.35 billion. Among retail funds, government money market fund assets increased by $2.04 billion to $601.71 billion, prime money market fund assets increased by $230 million to $251.18 billion, and tax-exempt fund assets increased by $320 million to $126.46 billion." Retail assets account for over a third of total assets, or 36.5%, and Government Retail assets make up 61.4% of all Retail MMFs. The release continues, "Assets of institutional money market funds decreased by $5.82 billion to $1.70 trillion. Among institutional funds, government money market fund assets decreased by $8.74 billion to $1.56 trillion, prime money market fund assets increased by $3.26 billion to $136.82 billion, and tax-exempt fund assets decreased by $340 million to $5.01 billion." Institutional assets account for 63.4% of all MMF assets, with Government Inst assets making up 91.6% of all Institutional MMFs.
