ICI: Money Fund Assets Up Again
ICI's latest "Money Market Fund Assets" report shows that money fund assets jumped for the second week in a row and for the 14th out of past 16 weeks. ICI's weekly series shows Retail MMFs declining by $1.43 billion, while Institutional MMFs gained $18.1 billion. They write, "Total money market fund assets increased by $16.64 billion to $3.08 trillion for the week ended Wednesday, Feb. 13, the Investment Company Institute reported today. Among taxable money market funds, government funds increased by $11.02 billion and prime funds increased by $8.47 billion. Tax-exempt money market funds decreased by $2.84 billion." Total Government MMF assets, including Treasury funds, stood at $2.325 trillion (75.5% of all money funds), while Total Prime MMFs reached $616.1 billion (20.0%). Tax Exempt MMFs totaled $138.3 billion, or 4.5%. ICI states, "Assets of retail money market funds decreased by $1.43 billion to $1.19 trillion. Among retail funds, government money market fund assets decreased by $2.88 billion to $694.46 billion, prime money market fund assets increased by $3.74 billion to $367.53 billion, and tax-exempt fund assets decreased by $2.28 billion to $128.68 billion." Retail assets account for over a third of total assets, or 38.7%, and Government Retail assets make up 58.3% of all Retail MMFs. The release concludes, "Assets of institutional money market funds increased by $18.07 billion to $1.89 trillion. Among institutional funds, government money market fund assets increased by $13.90 billion to $1.63 trillion, prime money market fund assets increased by $4.73 billion to $248.60 billion, and tax-exempt fund assets decreased by $563 million to $9.57 billion." Institutional assets accounted for 61.3% of all MMF assets, with Government Institutional assets making up 86.3% of all Institutional MMF totals.
