ICI: Money Fund Assets Rebound
The ICI's latest weekly "Money Market Fund Assets" report shows MMFs increasing in the latest week, following `two weeks of decreases in a row. Money fund assets are up $173 billion, or 4.0%, year-to-date in 2021. Inst MMFs are up $228 billion (8.2%), while Retail MMFs are down $55 billion (-3.6%). Over the past 52 weeks, money fund assets have decreased by $182 billion, or -4.8%, with Retail MMFs falling by $77 billion (-5.4%) and Inst MMFs falling by $104 billion (-4.4%). ICI's "Assets" release says, "Total money market fund assets increased by $15.74 billion to $4.47 trillion for the week ended Wednesday, April 21.... Among taxable money market funds, government funds increased by $18.27 billion and prime funds decreased by $1.97 billion. Tax-exempt money market funds decreased by $563 million." ICI's stats show Institutional MMFs increasing $23.5 billion and Retail MMFs decreasing $7.8 billion. Total Government MMF assets, including Treasury funds, were $3.871 trillion (86.6% of all money funds), while Total Prime MMFs were $501.7 billion (11.2%). Tax Exempt MMFs totaled $97.5 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 $7.79 billion to $1.47 trillion. Among retail funds, government money market fund assets decreased by $5.30 billion to $1.14 trillion, prime money market fund assets decreased by $1.86 billion to $246.14 billion, and tax-exempt fund assets decreased by $628 million to $86.44 billion." Retail assets account for just over a third of total assets, or 32.9%, and Government Retail assets make up 77.4% of all Retail MMFs. ICI adds, "Assets of institutional money market funds increased by $23.53 billion to $3.00 trillion. Among institutional funds, government money market fund assets increased by $23.58 billion to $2.73 trillion, prime money market fund assets decreased by $118 million to $255.57 billion, and tax-exempt fund assets increased by $65 million to $11.02 billion." Institutional assets accounted for 67.1% of all MMF assets, with Government Institutional assets making up 91.1% of all Institutional MMF totals.
