ICI's Money Market Mutual Fund Assets
ICI's latest "Money Market Mutual Fund Assets" report says, "Total money market mutual fund assets decreased by $10.33 billion to $2.568 trillion for the week ended Wednesday, September 19, the Investment Company Institute reported today. Taxable government funds decreased by $6.68 billion, taxable non-government funds decreased by $2.04 billion, and tax-exempt funds decreased by $1.60 billion. Assets of retail money market funds increased by $1.88 billion to $888.73 billion. Taxable government money market fund assets in the retail category increased by $600 million to $187.21 billion, taxable non-government money market fund assets increased by $1.60 billion to $512.89 billion, and tax-exempt fund assets decreased by $330 million to $188.63 billion. Assets of institutional money market funds decreased by $12.20 billion to $1.679 trillion. Among institutional funds, taxable government money market fund assets decreased by $7.28 billion to $678.35 billion, taxable non-government money market fund assets decreased by $3.64 billion to $919.52 billion, and tax-exempt fund assets decreased by $1.28 billion to $81.39 billion." Year-to-date, ICI's weekly series shows money fund assets down by $127 billion, or 4.7%. Institutional assets are down by $77 billion, or 4.4%, while Retail assets are down by $50 billion, or 5.3%. See also, The Wall Street Journal's "U.S. Money Market Funds Lend To More Euro Zone Issuers", which says, "U.S. money market funds are becoming less shy about lending to euro-zone banks. Prime money market funds increased their lending to euro-zone banks by $16 billion in August, with the bulk of it--$12 billion--going to German banks, according to data from J.P. Morgan. Lending to French banks also went up by $3 billion. J.P. Morgan's sample represents 87% of U.S. prime money market funds in terms of assets under management."
