MFI Daily: Assets Up $81.5B in May
Despite decreases in Government and Tax Exempt funds, total money market fund assets continued to rise through the end of May; they were up $81.5 billion through May 29 to $5.123 trillion. Government funds fell $5.5 billion in May to $3.879 trillion (assets jumped $363.0 billion in April and skyrocketed $790.4 billion in March). Prime fund assets increased $87.3 billion to $1.105 trillion in May. Tax-Exempt assets decreased $364 million to finish May at $139.3 billion. Yesterday's MFI Daily, with data as of June 2, shows money fund assets seeing some outflows in the latest week. Prime assets continued their rebound with $4.9 billion of inflows increasing their asset total to $1.109 trillion in the latest week, while Government assets dropped $32.4B to $3.865 trillion. Tax-Exempt MMFs decreased $265 million. Month-to-date, money fund assets have fallen $9.5 billion. Prime assets are up $3.7 billion MTD, while Government assets are down by $14.1 billion. Tax-Exempt MMFs increased by $877 million.
