ICI: Money Fund Assets Flat
ICI's latest "Money Market Fund Assets" report shows assets down fractionally in the latest week, following a huge jump the prior week. ICI's weekly series shows Retail MMFs inched down $0.03 billion, while Institutional MMFs dipped $0.72 billion. Total Government MMF assets, including Treasury funds, stood at $2.338 trillion (75.1% of all money funds), while Total Prime MMFs reached $634.1 billion (20.4%). Tax Exempt MMFs totaled $139.8 billion, or 4.5%. They write, "Total money market fund assets decreased by $749 million to $3.11 trillion for the week ended Wednesday, March 13, the Investment Company Institute reported.... Among taxable money market funds, government funds decreased by $723 million and prime funds increased by $119 million. Tax-exempt money market funds decreased by $144 million." ICI states, "Assets of retail money market funds decreased by $25 million to $1.20 trillion. Among retail funds, government money market fund assets decreased by $2.20 billion to $693.55 billion, prime money market fund assets increased by $2.34 billion to $380.39 billion, and tax-exempt fund assets decreased by $164 million to $130.22 billion." Retail assets account for over a third of total assets, or 38.7%, and Government Retail assets make up 57.6% of all Retail MMFs. The ICI release concludes, "Assets of institutional money market funds decreased by $723 million to $1.91 trillion. Among institutional funds, government money market fund assets increased by $1.48 billion to $1.64 trillion, prime money market fund assets decreased by $2.22 billion to $253.72 billion, and tax-exempt fund assets increased by $19 million to $9.57 billion." Institutional assets accounted for 61.3% of all MMF assets, with Government Institutional assets making up 86.2% of all Institutional MMF totals.
