ICI's latest weekly "Money Market Fund Assets" report shows assets falling in the latest week, which includes the June 15 quarterly tax date, after being up strongly the previous week <b:>`_. Year-to-date, MMFs are down by $164 billion, or -3.5%, with Institutional MMFs down $129 billion, or -4.0% and Retail MMFs down $35 billion, or -2.4%. Over the past 52 weeks, money fund assets are down by $37 billion, or -0.8%, with Retail MMFs falling by $1 billion (-0.0%) and Inst MMFs falling by $37 billion (-1.2%). (For the month of June, through 6/15, MMF assets have increased by $24.5 billion to $4.984 trillion according to Crane's MFI Daily, which tracks a broader universe of funds.) ICI's weekly release says, "Total money market fund assets decreased by $11.65 billion to $4.54 trillion for the week ended Wednesday, June 15, the Investment Company Institute reported.... Among taxable money market funds, government funds decreased by $4.86 billion and prime funds decreased by $6.84 billion. Tax-exempt money market funds increased by $51 million." ICI's stats show Institutional MMFs falling $20.9 billion and Retail MMFs increasing $9.3 billion in the latest week. Total Government MMF assets, including Treasury funds, were $4.018 trillion (88.5% of all money funds), while Total Prime MMFs were $420.5 billion (9.3%). Tax Exempt MMFs totaled $102.7 billion (2.3%). ICI explains, "Assets of retail money market funds increased by $9.27 billion to $1.43 trillion. Among retail funds, government money market fund assets increased by $6.10 billion to $1.13 trillion, prime money market fund assets increased by $3.15 billion to $209.09 billion, and tax-exempt fund assets increased by $14 million to $92.60 billion." Retail assets account for just under a third of total assets, or 31.6%, and Government Retail assets make up 79.0% of all Retail MMFs. They add, "Assets of institutional money market funds decreased by $20.91 billion to $3.11 trillion. Among institutional funds, government money market fund assets decreased by $10.96 billion to $2.89 trillion, prime money market fund assets decreased by $9.99 billion to $211.37 billion, and tax-exempt fund assets increased by $37 million to $10.05 billion." Institutional assets accounted for 68.4% of all MMF assets, with Government Institutional assets making up 92.9% of all Institutional MMF totals. (Note that ICI's asset totals don't include a number of funds tracked by the SEC and Crane Data, so they're over $400 billion lower than Crane's asset series.)

Email This Article




Use a comma or a semicolon to separate

captcha image