ICI's Money Market Fund Holdings
The Investment Company Institute released its latest "Money Market Fund Holdings" summary on Tuesday (with data as of April 30, 2019). This monthly update reviews the aggregate daily and weekly liquid assets, regional exposure, and maturities (WAM and WAL) for Prime and Government money market funds. (See our May 10 News, "May Money Fund Portfolio Holdings: Repo, Agencies, CP Up; T-Bills Drop.") The MMF Holdings release says, "The Investment Company Institute (ICI) reports that, as of the final Friday in April, prime money market funds held 27.7 percent of their portfolios in daily liquid assets and 42.1 percent in weekly liquid assets, while government money market funds held 58.7 percent of their portfolios in daily liquid assets and 76.9 percent in weekly liquid assets." Prime DLA decreased from 29.1% in March, and Prime WLA also declined from 42.6% the previous month. Govt MMFs' DLA decreased from 60.5% in March and Govt WLA decreased from 78.4% from the previous month. ICI explains, "At the end of April, prime funds had a weighted average maturity (WAM) of 36 days and a weighted average life (WAL) of 68 days. Average WAMs and WALs are asset-weighted. Government money market funds had a WAM of 29 days and a WAL of 92 days." Prime WAMs decreased by 2 days from the previous month, and WALs decreased by 1 day. Govt WAMs decreased by 2 days from March levels and Govt WALs also decreased by one day the last month. Regarding Holdings By Region of Issuer, ICI's release tells us, "Prime money market funds' holdings attributable to the Americas declined from $293.05 billion in March to $291.58 billion in April. Government money market funds' holdings attributable to the Americas declined from $1,928.80 billion in March to $1,816.82 billion in April." The Prime Money Market Funds by Region of Issuer table shows Americas-related holdings at $293.1 billion, or 46.6%; Asia and Pacific at $119.5 billion, or 19.0%; Europe at $211.3 billion, or 33.6%; and, Other (including Supranational) at $4.6 billion, or 0.7%. The Government Money Market Funds by Region of Issuer table shows Americas at $1.929 trillion, or 82.3%; Asia and Pacific at $109.1 billion, or 4.7%; Europe at $301.4 billion, or 12.9%, and Other (Including Supranational) at $4.9 billion, or 0.2%.
