The Investment Company Institute's latest "Money Market Fund Assets" report shows that overall money fund assets jumped again in the latest week, showing their biggest increase of the year and reaching their highest level since March 2016. (They are poised to reach their highest levels since December 2010 too with another week or two of gains.) Prime money market funds continued their rebound, rising for the 4th week in a row. Prime MMFs have risen by $37.5 billion, or 8.9%, over the past 19 weeks, and they've risen by $88.7 billion, or 24.0%, year-to-date. ICI writes, "Total money market fund assets increased by $38.12 billion to $2.80 trillion for the eight-day period ended Wednesday, November 29, the Investment Company Institute reported today. Among taxable money market funds, government funds increased by $35.97 billion and prime funds increased by $2.36 billion. Tax-exempt money market funds decreased by $215 million." Total Government MMF assets, which include Treasury funds too, stand at $2.211 trillion (79.0% of all money funds), while Total Prime MMFs stand at $458.4 billion (16.4% of total MMFs). Tax Exempt MMFs total $129.1 billion, or 4.6%. They explain, "Assets of retail money market funds decreased by $1.51 billion to $988.61 billion. Among retail funds, government money market fund assets decreased by $1.93 billion to $599.17 billion, prime money market fund assets increased by $648 million to $266.03 billion, and tax-exempt fund assets decreased by $226 million to $123.41 billion." `Retail assets account for over a third of total assets, or 35.3%, and Government Retail assets make up 60.6% of all Retail MMFs. ICI's release adds, "Assets of institutional money market funds increased by $39.63 billion to $1.81 trillion. Among institutional funds, government money market fund assets increased by $37.90 billion to $1.61 trillion, prime money market fund assets increased by $1.72 billion to $192.38 billion, and tax-exempt fund assets increased by $12 million to $5.69 billion." Institutional assets account for 64.7% of all MMF assets, with Government Inst assets making up 89.1% of all Institutional MMFs.
