ICI: Prime MMF Assets Rise Again
ICI's latest weekly "Money Market Mutual Fund Assets" report shows Prime assets increasing for the fifth week in a row, and the 10th week out of the past 11. Prime MMFs have risen by $20.7 billion, or 5.7% since 12/21/16. The release says, "Total money market fund assets increased by $10.12 billion to $2.69 trillion for the week ended Wednesday, March 8, the Investment Company Institute reported today. Among taxable money market funds, government funds increased by $8.17 billion and prime funds increased by $1.46 billion. Tax-exempt money market funds increased by $490 million." Total Government MMF assets, which include Treasury funds too and which represent 80.4% of all money funds, stand at $2.162 trillion, while Total Prime MMFs, which account for 14.7% of all MMFs, stand at $395.6 billion. Tax Exempt MMFs total $130.8 billion, or 4.9%. It explains, "Assets of retail money market funds increased by $3.02 billion to $979.92 billion. Among retail funds, government money market fund assets increased by $1.84 billion to $601.27 billion, prime money market fund assets increased by $980 million to $252.80 billion, and tax-exempt fund assets increased by $200 million to $125.85 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 increased by $7.10 billion to $1.71 trillion. Among institutional funds, government money market fund assets increased by $6.33 billion to $1.56 trillion, prime money market fund assets increased by $480 million to $142.75 billion, and tax-exempt fund assets increased by $300 million to $4.98 billion." Institutional assets account for 63.5% of all MMF assets, with Government Inst assets making up 91.4% of all Institutional MMFs.
