ICI: Money Fund Assets Up Again
ICI's weekly "Money Market Fund Assets" report shows MMF assets rising in the latest week, their 5th week in a row of strong gains. Government, Prime and Tax Exempt MMFs all increased. Overall assets are now up $100 billion, or 3.5%, YTD, and they've increased by $177 billion, or 6.4%, over 52 weeks. Retail MMFs have increased by $95 billion, or 9.4% YTD, while Inst MMFs, which broke above the $1.8 trillion level, have increased $5 billion, or 0.2%. Over 52 weeks, Retail money funds have gained $119 billion, or 12.0%, while Inst money funds are up $58 billion, or 3.3%. We review the latest asset figures below. ICI writes, "Total money market fund assets increased by $17.79 billion to $2.94 trillion for the six-day period ended Tuesday, November 20, the Investment Company Institute reported today. Among taxable money market funds, government funds increased by $12.76 billion and prime funds increased by $3.41 billion. Tax-exempt money market funds increased by $1.61 billion." Total Government MMF assets, which include Treasury funds too, stand at $2.257 trillion (76.8% of all money funds), while Total Prime MMFs stand at $542.9 billion (18.5%). Tax Exempt MMFs total $137.5 billion, or 4.7%. They explain, "Assets of retail money market funds increased by $8.93 billion to $1.11 trillion. Among retail funds, government money market fund assets increased by $5.53 billion to $659.15 billion, prime money market fund assets increased by $2.53 billion to $320.72 billion, and tax-exempt fund assets increased by $871 million to $129.07 billion." Retail assets account for over a third of total assets, or 37.7%, and Government Retail assets make up 59.4% of all Retail MMFs. ICI's release adds, "Assets of institutional money market funds increased by $8.85 billion to $1.83 trillion. Among institutional funds, government money market fund assets increased by $7.23 billion to $1.60 trillion, prime money market fund assets increased by $880 million to $222.17 billion, and tax-exempt fund assets increased by $742 million to $8.47 billion." Institutional assets account for 62.3% of all MMF assets, with Government Inst assets making up 87.4% of all Institutional MMFs.
