Money Fund Assets Rebound
Money fund assets rose for just the second time in the first 6 weeks of 2014. ICI's latest weekly "Money Market Fund Assets" report says, "Total money market mutual fund assets increased by $8.00 billion to $2.713 trillion for the week ending Wednesday, February 12, the Investment Company Institute reported today. Taxable government funds increased by $3.31 billion, taxable non-government funds increased by $6.47 billion, and tax-exempt funds decreased by $1.78 billion. Assets of retail money market funds decreased by $110 million to $922.60 billion. Taxable government money market fund assets in the retail category increased by $780 million to $199.45 billion, taxable non-government money market fund assets decreased by $100 million to $528.15 billion, and tax-exempt fund assets decreased by $790 million to $195.00 billion. Assets of institutional money market funds increased by $8.11 billion to $1.790 trillion. Among institutional funds, taxable government money market fund assets increased by $2.53 billion to $760.05 billion, taxable non-government money market fund assets increased by $6.57 billion to $955.71 billion, and tax-exempt fund assets decreased by $990 million to $74.58 billion." Year-to-date, money fund assets have fallen by $6 billion, with Institutional assets up by $1 billion and Retail assets down by $7 billion. Money fund assets rose slightly in 2013, the second year in a row of modest gains. (Funds were up by $14 billion in 2013 and just $10 billon in 2012.) This followed 3 years of huge declines. Money fund assets decreased by over $1.1 trillion from 2009 through 2011.
