Money market fund assets inched down in the latest week, their seventh drop in a row and 15th decline in the past 18 weeks. Assets, which broke below the $4.5 trillion level earlier this month, are at their lowest level since April 1. ICI's latest weekly "Money Market Fund Assets" report says, "Total money market fund assets decreased by $2.11 billion to $44.41 trillion for the week ended Wednesday, September 23, the Investment Company Institute reported.... Among taxable money market funds, government funds increased by $8.71 billion and prime funds decreased by $9.38 billion. Tax-exempt money market funds decreased by $1.44 billion." ICI's stats show Institutional MMFs rising $3.1 billion and Retail MMFs decreasing $5.2 billion. Total Government MMF assets, including Treasury funds, were $3.574 trillion (81.0% of all money funds), while Total Prime MMFs were $725.1 billion (16.4%). Tax Exempt MMFs totaled $114.8 billion (2.6%). ICI shows money fund assets up a still massive $782 billion, or 21.5%, year-to-date in 2020, with Inst MMFs up $629 billion (27.8%) and Retail MMFs up $154 billion (11.2%). Over the past 52 weeks, ICI's money fund asset series has increased by $972 billion, or 28.7%, with Retail MMFs rising by $218 billion (16.9%) and Inst MMFs rising by $754 billion (36.0%). (Crane Data's separate and broader Money Fund Intelligence Daily data series shows total MF assets are down $119.2 billion in September (as of 9/23) to $4.791 trillion.) They explain, "Assets of retail money market funds decreased by $5.22 billion to $1.52 trillion. Among retail funds, government money market fund assets decreased by $1.12 billion to $991.86 billion, prime money market fund assets decreased by $3.05 billion to $427.81 billion, and tax-exempt fund assets decreased by $1.05 billion to $103.93 billion." Retail assets account for just over a third of total assets, or 34.5%, and Government Retail assets make up 65.1% of all Retail MMFs. ICI adds, "Assets of institutional money market funds increased by $3.10 billion to $2.89 trillion. Among institutional funds, government money market fund assets increased by $9.82 billion to $2.58 trillion, prime money market fund assets decreased by $6.34 billion to $297.31 billion, and tax-exempt fund assets decreased by $383 million to $10.87 billion." Institutional assets, which broke below the $3.0 trillion level for the first time since April 22 last week, accounted for 65.5% of all MMF assets, with Government Institutional assets making up 89.4% of all Institutional MMF totals.

Email This Article




Use a comma or a semicolon to separate

captcha image

Daily Link Archive

2024 2023 2022
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2021 2020 2019
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2018 2017 2016
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2015 2014 2013
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2012 2011 2010
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2009 2008 2007
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2006
December
November
October
September