ICI Says MMF Outflows Continue
ICI's weekly "Money Market Mutual Fund Assets says, "Total money market mutual fund assets decreased by $35.39 billion to $2.878 trillion for the week ended Wednesday, April 21, the Investment Company Institute reported today. Taxable government funds decreased by $11.06 billion, taxable non-government funds decreased by $19.38 billion, and tax-exempt funds decreased by $4.95 billion." Retail assets broke below $1 trillion as tax-related and zero-interest rate-related outflows continued. The report continues, "Assets of retail money market funds decreased by $8.63 billion to $993.33 billion. Taxable government money market fund assets in the retail category decreased by $920 million to $154.27 billion, taxable non-government money market fund assets decreased by $5.08 billion to $622.24 billion, and tax-exempt fund assets decreased by $2.63 billion to $216.81 billion. Assets of institutional money market funds decreased by $26.76 billion to $1.885 trillion. Among institutional funds, taxable government money market fund assets decreased by $10.15 billion to $686.32 billion, taxable non-government money market fund assets decreased by $14.29 billion to $1.056 trillion, and tax-exempt fund assets decreased by $2.32 billion to $142.30 billion."
