Assets Down Again, But Prime Up
The Investment Company Institute released its latest weekly "Money Market Mutual Fund Assets" yesterday, which shows that money fund assets were down slightly in the latest week. It says, "Total money market fund assets decreased by $4.12 billion to $2.64 trillion for the week ended Wednesday, April 12, the Investment Company Institute reported today. Among taxable money market funds, government funds decreased by $6.26 billion and prime funds increased by $2.22 billion. Tax-exempt money market funds decreased by $80 million." Total Government MMF assets, which include Treasury funds too stand at $2.114 trillion (80.0% of all money funds), while Total Prime MMFs stand at $399.4 billion (15.1%). Tax Exempt MMFs total $130.2 billion, or 4.9%. It explains, "Assets of retail money market funds decreased by $5.45 billion to $978.98 billion. Among retail funds, government money market fund assets decreased by $4.25 billion to $599.76 billion, prime money market fund assets decreased by $760 million to $254.04 billion, and tax-exempt fund assets decreased by $450 million to $125.18 billion." Retail assets account for over a third of total assets, or 37.0%, and Government Retail assets make up 61.3% of all Retail MMFs. The release continues, "Assets of institutional money market funds increased by $1.33 billion to $1.66 trillion. Among institutional funds, government money market fund assets decreased by $2.01 billion to $1.51 trillion, prime money market fund assets increased by $2.98 billion to $145.40 billion, and tax-exempt fund assets increased by $370 million to $4.97 billion." Institutional assets account for 63.0% of all MMF assets, with Government Inst assets making up 91.0% of all Institutional MMFs.
