ICI's MMF Holdings Summary
ICI released its latest monthly "Money Market Fund Holdings" summary yesterday, which reviews the aggregate daily and weekly liquid assets, regional exposure, and maturities (WAM and WAL) for Prime and Government money market funds. (For more, see our January 13 News, "January MF Portfolio Holdings: Treasuries Still Rule; TDs, Repo Drop.") The MMF Holdings release says, "The Investment Company Institute (ICI) reports that, as of the final Friday in December, prime money market funds held 34.4 percent of their portfolios in daily liquid assets and 46.8 percent in weekly liquid assets, while government money market funds held 74.6 percent of their portfolios in daily liquid assets and 84.1 percent in weekly liquid assets." Prime DLA was down from 38.8% in November, and Prime WLA decreased from 51.7%. Govt MMFs' DLA decreased from 75.1% in November and Govt WLA decreased from 84.6% from the previous month. ICI explains, "At the end of December, prime funds had a weighted average maturity (WAM) of 44 days and a weighted average life (WAL) of 58 days. Average WAMs and WALs are asset-weighted. Government money market funds had a WAM of 49 days and a WAL of 103 days." Prime WAMs were up one day from the previous month, while WALs were unchanged from the previous month. Govt WAMs and WALs were both up four days from November. Regarding Holdings By Region of Issuer, the release tells us, "Prime money market funds' holdings attributable to the Americas rose from $268.37 billion in November to $290.24 billion in December. Government money market funds' holdings attributable to the Americas rose from $3,249.75 billion in November to $3,283.99 billion in December." The Prime Money Market Funds by Region of Issuer table shows Americas-related holdings at $290.2 billion, or 53.5%; Asia and Pacific at $94.9 billion, or 17.5%; Europe at $152.5 billion, or 28.1%; and, Other (including Supranational) at $4.5 billion, or 0.9%. The Government Money Market Funds by Region of Issuer table shows Americas at $3.284 trillion, or 88.8%; Asia and Pacific at $117.9 billion, or 3.2%; Europe at $285.5 billion, 7.7%, and Other (Including Supranational) at $8.7 billion, or 0.2%."
