MMF Assets Stay Over $3.1 Trillion
The Investment Company Institute released its latest weekly "Money Market Fund Assets" report yesterday, which shows that assets rose again in the latest week, after falling two weeks ago. They write, "Total money market fund assets increased by $5.78 billion to $3.11 trillion for the week ended Wednesday, April 3, the Investment Company Institute reported.... Among taxable money market funds, government funds decreased by $3.52 billion and prime funds increased by $8.42 billion. Tax-exempt money market funds increased by $891 million." ICI's weekly series shows Institutional MMFs falling $4.1 billion while Retail MMFs moved higher by $9.9 billion. Total Government MMF assets, including Treasury funds, stood at $2.330 trillion (75.0% of all money funds), while Total Prime MMFs rose to $637.7 billion (20.5%). Tax Exempt MMFs totaled $139.6 billion, or 4.5%. ICI states, "Assets of retail money market funds increased by $9.86 billion to $1.22 trillion. Among retail funds, government money market fund assets increased by $5.09 billion to $702.52 billion, prime money market fund assets increased by $4.36 billion to $386.89 billion, and tax-exempt fund assets increased by $404 million to $129.64 billion." Retail assets account for 39.2% of all assets, and Government Retail assets make up 57.6% of all Retail MMFs. The release adds, "Assets of institutional money market funds decreased by $4.07 billion to $1.89 trillion. Among institutional funds, government money market fund assets decreased by $8.62 billion to $1.63 trillion, prime money market fund assets increased by $4.06 billion to $250.81 billion, and tax-exempt fund assets increased by $487 million to $9.98 billion." Institutional assets accounted for 60.8% of all MMF assets, with Government Institutional assets making up 86.2% of all Institutional MMF totals.
