Crane Data published its latest Weekly Money Fund Portfolio Holdings statistics Tuesday, which track a shifting subset of our monthly Portfolio Holdings collection. The most recent cut (with data as of March 11) includes Holdings information from 71 money funds (down from 88 two weeks ago), which represent $2.561 trillion (down from $2.908 trillion) of the $4.980 trillion (51.4%) in total money fund assets tracked by Crane Data. (Our Weekly MFPH are e-mail only and aren't available on the website. See our March 10 News, "March MF Portfolio Holdings Flat: Repo Inches Higher, Treasuries Lower," for more.)
Our latest Weekly MFPH Composition summary again shows Government assets dominating the holdings list with Repurchase Agreements (Repo) totaling $1.232 trillion (down from $1.398 trillion two weeks ago), or 48.1%; Treasuries totaling $1.022 trillion (down from $1.118 trillion two weeks ago), or 39.9%, and Government Agency securities totaling $134.1 billion (down from $159.0 billion), or 5.2%. Commercial Paper (CP) totaled $61.7 billion (down from two weeks ago at $75.8 billion), or 2.4%. Certificates of Deposit (CDs) totaled $38.7 billion (up from $50.7 billion two weeks ago), or 1.5%. The Other category accounted for $48.3 billion or 1.9%, while VRDNs accounted for $24.9 billion, or 1.0%.
The Ten Largest Issuers in our Weekly Holdings product include: the US Treasury with $1.022 trillion (39.9% of total holdings), the Federal Reserve Bank of New York with $750.7B (29.3%), Fixed Income Clearing Corp with $75.6B (2.9%), Federal Home Loan Bank with $60.1B (2.3%), BNP Paribas with $59.9B (2.3%), Federal Farm Credit Bank with $43.6B (1.7%), RBC with $41.6B (1.6%), Societe Generale with $31.7B (1.2%), Barclays PLC with $27.8B (1.1%) and JP Morgan with $22.1B (0.9%).
The Ten Largest Funds tracked in our latest Weekly include: JPMorgan US Govt MM ($243.4B), Goldman Sachs FS Govt ($221.0B), BlackRock Lq FedFund ($164.4B), Morgan Stanley Inst Liq Govt ($144.1B), Allspring Govt MM ($129.1B), Dreyfus Govt Cash Mgmt ($127.9B), Fidelity Inv MM: Govt Port ($126.6B), BlackRock Lq Treas Tr ($119.5B), BlackRock Lq T-Fund ($111.4B) and Goldman Sachs FS Treas Instruments ($106.4B). (Let us know if you'd like to see our latest domestic U.S. and/or "offshore" Weekly Portfolio Holdings collection and summary, or our Bond Fund Portfolio Holdings data series.)
In related news, ICI also released its latest monthly "Money Market Fund Holdings" summary, which reviews the aggregate daily and weekly liquid assets, regional exposure, and maturities (WAM and WAL) for Prime and Government money market funds.
The MMF Holdings release says, "` The Investment Company Institute (ICI) reports that, as of the final Friday in February, prime money market funds held 27.9 percent of their portfolios in daily liquid assets and 48.0 percent in weekly liquid assets, while government money market funds held 87.3 percent of their portfolios in daily liquid assets and 93.7 percent in weekly liquid assets <b:>`_." Prime DLA was down from 29.3% in January, and Prime WLA was up from 47.6%. Govt MMFs' DLA increased from 86.9% in January and Govt WLA increased from 93.5% the previous month.
ICI explains, "At the end of February, prime funds had a weighted average maturity (WAM) of 25 days and a weighted average life (WAL) of 54 days. Average WAMs and WALs are asset-weighted. Government money market funds had a WAM of 29 days and a WAL of 75 days." Prime WAMs were seven days shorter than January, while WALs were unchanged from the previous month. Govt WAMs were two days shorter and WALs were two days shorter than January, respectively.
Regarding Holdings by Region of Issuer, the release tells us, "Prime money market funds’ holdings attributable to the Americas declined from $160.82 billion in January to $145.58 billion in February. Government money market funds’ holdings attributable to the Americas declined from $3,794.54 billion in January to $3,793.98 billion in February."
The Prime Money Market Funds by Region of Issuer table shows Americas-related holdings at $145.6 billion, or 34.2%; Asia and Pacific at $82.9 billion, or 19.5%; Europe at $192.6 billion, or 45.3%; and, Other (including Supranational) at $4.0 billion, or 1.0%. The Government Money Market Funds by Region of Issuer table shows Americas at $3.794 trillion, or 91.4%; Asia and Pacific at $116.1 billion, or 2.8%; Europe at $230.8 billion, 5.6%, and Other (Including Supranational) at $9.1 billion, or 0.2%.
