Money Fund Assets Flat for Week
ICI's latest "Money Market Fund Assets" report shows assets flat in the latest week after two weeks of increases and six weeks of declines. Their release says, "Total money market fund assets decreased by $1.14 billion to $4.50 trillion for the week ended Wednesday, August 4, the Investment Company Institute reported today. Among taxable money market funds, government funds decreased by $934 million and prime funds decreased by $867 million. Tax-exempt money market funds increased by $660 million." Money fund assets are up by $204 billion, or 4.7%, year-to-date in 2021. Inst MMFs are up $304 billion (11.0%), while Retail MMFs are down $101 billion (-6.6%). ICI's stats show Institutional MMFs decreasing $3.1 billion and Retail MMFs increasing $2.0 billion in the latest week. Total Government MMF assets, including Treasury funds, were $3.925 trillion (87.2% of all money funds), while Total Prime MMFs were $483.5 billion (10.7%). Tax Exempt MMFs totaled $92.3 billion (2.1%). Over the past 52 weeks, money fund assets have decreased by $75 billion, or -1.6%, with Retail MMFs falling by $114 billion (-7.4%) and Inst MMFs rising by $39 billion (1.3%). (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.) ICI explains, "Assets of retail money market funds increased by $1.99 billion to $1.43 trillion. Among retail funds, government money market fund assets increased by $2.77 billion to $1.12 trillion, prime money market fund assets decreased by $859 million to $223.20 billion, and tax-exempt fund assets increased by $86 million to $80.10 billion." Retail assets account for just under a third of total assets, or 31.7%, and Government Retail assets make up 78.7% of all Retail MMFs. ICI adds, "Assets of institutional money market funds decreased by $3.13 billion to $3.08 trillion. Among institutional funds, government money market fund assets decreased by $3.70 billion to $2.80 trillion, prime money market fund assets decreased by $7 million to $260.27 billion, and tax-exempt fund assets increased by $574 million to $12.18 billion." Institutional assets accounted for 68.3% of all MMF assets, with Government Institutional assets making up 91.1% of all Institutional MMF totals.
