ICI's weekly "Money Market Fund Assets" report shows that money fund assets inched lower again in the latest week, marking their 17th decrease over the last 18 weeks. Assets have fallen $469 billion since May 20, when they were at a record $4.789 trillion. ICI says, "Total money market fund assets decreased by $3.88 billion to $4.32 trillion for the week ended Wednesday, December 2.... Among taxable money market funds, government funds decreased by $1.20 billion and prime funds decreased by $3.76 billion. Tax-exempt money market funds increased by $1.08 billion." ICI's stats show Institutional MMFs decreasing $330 million and Retail MMFs decreasing $3.6 billion. Total Government MMF assets, including Treasury funds, were $3.647 trillion (84.4% of all money funds), while Total Prime MMFs were $564.0 billion (13.1%). Tax Exempt MMFs totaled $109.5 billion (2.5%). (Note that ICI's asset totals don't include a number of funds tracked by the SEC and Crane Data.) ICI shows money fund assets up a still massive $688 billion, or 19.0%, year-to-date in 2020, with Inst MMFs up $529 billion (23.4%) and Retail MMFs up $160 billion (11.7%). Over the past 52 weeks, ICI's money fund asset series has increased by $741 billion, or 21.1%, with Retail MMFs rising by $181 billion (13.5%) and Inst MMFs rising by $561 billion (25.8%). (Crane Data's separate and broader Money Fund Intelligence Daily data series shows total MF assets are down $23.5 billion in December, as of 12/2, to $4.695 trillion.) They explain, "Assets of retail money market funds decreased by $3.55 billion to $1.53 trillion. Among retail funds, government money market fund assets decreased by $741 million to $1.14 trillion, prime money market fund assets decreased by $2.77 billion to $287.48 billion, and tax-exempt fund assets decreased by $41 million to $97.69 billion. Retail assets account for just over a third of total assets, or 35.4%, and Government Retail assets make up 74.8% of all Retail MMFs. ICI adds, "Assets of institutional money market funds decreased by $330 million to $2.79 trillion. Among institutional funds, government money market fund assets decreased by $459 million to $2.50 trillion, prime money market fund assets decreased by $996 million to $276.48 billion, and tax-exempt fund assets increased by $1.13 billion to $11.80 billion. Institutional assets, which broke below the $3.0 trillion level for the first time since April 22 at the end of August, accounted for 64.6% of all MMF assets, with Government Institutional assets making up 89.7% of all Institutional MMF totals.

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