MMF Assets Jump; Federated Earnings
ICI's latest "Money Market Mutual Fund Assets" report shows assets up big in the latest week. It says, "Total money market fund assets increased by $16.19 billion to $2.65 trillion for the week ended Wednesday, July 22, the Investment Company Institute reported today. Among taxable money market funds, Treasury funds (including agency and repo) increased by $9.42 billion and prime funds increased by $7.52 billion. Tax-exempt money market funds decreased by $760 million. Assets of retail money market funds decreased by $530 million to $871.15 billion. Among retail funds, Treasury money market fund assets increased by $770 million to $195.88 billion, prime money market fund assets decreased by $1.16 billion to $496.63 billion, and tax-exempt fund assets decreased by $140 million to $178.64 billion. Assets of institutional money market funds increased by $16.72 billion to $1.78 trillion. Among institutional funds, Treasury money market fund assets increased by $8.66 billion to $785.65 billion, prime money market fund assets increased by $8.68 billion to $924.07 billion, and tax-exempt fund assets decreased by $620 million to $67.71 billion." Year-to-date, money fund assets are down $84 billion or 3.1%. Month-to-date assets are up $34 billion, and MMF assets have gone up 4 of the past 5 weeks. In other news, Federated Investors released its latest earnings and will hold its 2nd Quarter Earnings Call this morning, July 24, at 9:00 am. The release says, "President and Chief Executive Officer J. Christopher Donahue and Chief Financial Officer Thomas R. Donahue will host the call. Investors interested in listening to the conference call should dial 877-407-0782 ... or visit FederatedInvestors.com for real time Internet access. To listen via the Internet, go to the About Federated section of the website at least 15 minutes prior to register and join the call."
