Money market fund assets were up last week, breaking back above the $2.6 trillion level, according to ICI in its latest weekly "Money Market Mutual Fund Assets" report. The release says, "Total money market fund assets increased by $20.61 billion to $2.61 trillion for the week ended Wednesday, May 20, the Investment Company Institute reported today. Among taxable money market funds, Treasury funds (including agency and repo) increased by $2.02 billion and prime funds increased by $16.91 billion. Tax-exempt money market funds increased by $1.68 billion. Assets of retail money market funds increased by $2.16 billion to $862.72 billion. Among retail funds, Treasury money market fund assets increased by $10 million to $189.61 billion, prime money market fund assets increased by $2.15 billion to $493.58 billion, and tax-exempt fund assets decreased by $10 million to $179.53 billion. Assets of institutional money market funds increased by $18.45 billion to $1.75 trillion. Among institutional funds, Treasury money market fund assets increased by $2.01 billion to $777.03 billion, prime money market fund assets increased by $14.76 billion to $903.31 billion, and tax-exempt fund assets increased by $1.69 billion to $66.56 billion." MMF assets are up $28 billion month-to-date, but down $123 billion, or 4.5%, year-to-date. In other news, a press release entitled, "SEC Proposes Rules to Modernize and Enhance Information Reported by Investment Companies and Investment Advisers," tells us, "The Securities and Exchange Commission [Wednesday] proposed rules, forms and amendments to modernize and enhance the reporting and disclosure of information by investment companies and investment advisers.... "These recommendations will vastly improve the type and format of the information that funds provide to the Commission and to investors," said SEC Chair Mary Jo White." The investment company proposals would enhance data reporting for mutual funds, ETFs and other registered investment companies. The proposals would require a new monthly portfolio reporting form (Form N-PORT) and a new annual reporting form (Form N-CEN) that would require census-type information.... The proposals would also require enhanced and standardized disclosures in financial statements, and would permit mutual funds and other investment companies to provide shareholder reports by making them accessible on a website. The proposals will be published on the Commission’s website and in the Federal Register. The comment period for the proposed rules will be 60 days after publication in the Federal Register." See too the SEC's "Fact Sheet" that accompanied the release. ICI commented on the proposal, saying, "We welcome the SEC's efforts to modernize and enhance the data it collects from investment companies and investment advisers. We look forward to reviewing the details of these proposals and will assist the SEC with our input through the public notice and comment process. Providing fund communications in ways that best meet shareholder needs and preferences has long been a priority for the industry. We therefore are very pleased that the SEC's proposal would permit funds to provide investors with shareholder reports on their websites rather than via paper mailings." Crane Data looks forward to standardized and more frequent Bond Fund Portfolio Holdings disclosures. Our new Bond Fund Intelligence XLS includes links to holdings, but building a database and listings of standardized holdings is near impossible with the various formats and reporting periods that exist today.
