The Investment Company Institute released its latest weekly "Money Market Fund Assets" report Thursday, which shows MMFs decreasing in the latest week, following last week's surge. The week following quarter-end and including the long Holiday weekend marks just the 2nd decrease in the last 9 weeks. Money fund assets are up $187 billion, or 4.4%, year-to-date in 2021. Inst MMFs are up $226 billion (8.1%), while Retail MMFs are down $38 billion (-2.5%). Over the past 52 weeks, money fund assets have increased by $11 billion, or 0.3%, with Retail MMFs falling by $51 billion (-3.5%) and Inst MMFs rising by $62 billion (2.6%). We review the latest asset totals below. ICI's "Assets" release says, "Total money market fund assets decreased by $12.64 billion to $4.48 trillion for the week ended Wednesday, April 7.... Among taxable money market funds, government funds decreased by $13.81 billion and prime funds increased by $1.04 billion. Tax-exempt money market funds increased by $126 million." ICI's stats show Institutional MMFs decreasing $7.6 billion and Retail MMFs decreasing $5.1 billion. Total Government MMF assets, including Treasury funds, were $3.873 trillion (86.4% of all money funds), while Total Prime MMFs were $512.2 billion (11.4%). Tax Exempt MMFs totaled $99.4 billion (2.2%). (Note that ICI's asset totals don't include a number of funds tracked by the SEC and Crane Data, so they're almost $400 billion lower than our asset series.) It explains, "Assets of retail money market funds decreased by $5.09 billion to $1.49 trillion. Among retail funds, government money market fund assets decreased by $3.10 billion to $1.15 trillion, prime money market fund assets decreased by $1.80 billion to $250.17 billion, and tax-exempt fund assets decreased by $194 million to $88.07 billion." Retail assets account for just over a third of total assets, or 33.2%, and Government Retail assets make up 77.3% of all Retail MMFs. ICI adds, "Assets of institutional money market funds decreased by $7.56 billion to $3.00 trillion. Among institutional funds, government money market fund assets decreased by $10.71 billion to $2.72 trillion, prime money market fund assets increased by $2.84 billion to $261.99 billion, and tax-exempt fund assets increased by $319 million to $11.37 billion." Institutional assets accounted for 66.8% of all MMF assets, with Government Institutional assets making up 90.9% of all Institutional MMF totals.

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