ICI: MMF Assets Flat on Week
ICI's latest "Money Market Mutual Fund Assets" says, "Total money market mutual fund assets increased by $1.14 billion to $2.669 trillion for the week ended Wednesday, October 30, the Investment Company Institute reported today. Taxable government funds increased by $2.59 billion, taxable non-government funds decreased by $210 million, and tax-exempt funds decreased by $1.24 billion." Money fund assets, according to ICI's weekly survey, jumped the last week in September (up $35.9 billion), dropped sharply for 3 weeks (down $80.4 billion through Oct. 16), then rebounded $54.4 billion last week. The release explains, "Assets of retail money market funds decreased by $8.06 billion to $920.10 billion. Taxable government money market fund assets in the retail category decreased by $2.34 billion to $196.27 billion, taxable non-government money market fund assets decreased by $4.85 billion to $531.40 billion, and tax-exempt fund assets decreased by $870 million to $192.43 billion.... Assets of institutional money market funds increased by $9.20 billion to $1.749 trillion. Among institutional funds, taxable government money market fund assets increased by $4.93 billion to $730.52 billion, taxable non-government money market fund assets increased by $4.65 billion to $948.26 billion, and tax-exempt fund assets decreased by $370 million to $70.14 billion." Year-to-date, money fund assets are up marginally ($4 billion, or 0.2%).
