ICI Money Market Fund Assets
ICI's weekly "Money Market Fund Assets" report shows MMF assets rising slightly in the latest week after jumping the prior week. Government assets rose while Prime and Tax Exempt MMFs declined. Overall assets are now up $46 billion, or 1.6%, YTD, and they've increased by $155 billion, or 5.7%, over 52 weeks. Retail MMFs have increased by $77 billion, or 7.6% YTD, while Inst MMFs have decreased $31 billion, or -1.7%. Over 52 weeks, Retail money funds have gained $109 billion, or 11.1%, while Inst money funds are up $45 billion, or 2.6%. ICI writes, "Total money market fund assets increased by $2.67 billion to $2.88 trillion for the week ended Wednesday, October 31, the Investment Company Institute reported today. Among taxable money market funds, government funds increased by $5.69 billion and prime funds decreased by $2.75 billion. Tax-exempt money market funds decreased by $272 million." Total Government MMF assets, which include Treasury funds too, stand at $2.219 trillion (76.9% of all money funds), while Total Prime MMFs stand at $531.1 billion (18.4%). Tax Exempt MMFs total $134.2 billion, or 4.7%. They explain, "Assets of retail money market funds increased by $6.32 billion to $1.09 trillion. Among retail funds, government money market fund assets increased by $5.53 billion to $651.22 billion, prime money market fund assets increased by $960 million to $313.45 billion, and tax-exempt fund assets decreased by $175 million to $126.24 billion." Retail assets account for over a third of total assets, or 37.8%, and Government Retail assets make up 59.7% of all Retail MMFs. ICI's release adds, "Assets of institutional money market funds decreased by $3.65 billion to $1.79 trillion. Among institutional funds, government money market fund assets increased by $161 million to $1.57 trillion, prime money market fund assets decreased by $3.71 billion to $217.67 billion, and tax-exempt fund assets decreased by $97 million to $7.91 billion." Institutional assets account for 62.2% of all MMF assets, with Government Inst assets making up 87.4% of all Institutional MMFs.
