ICI's Money Market Fund Holdings
The Investment Company Institute released its latest "Money Market Fund Holdings" summary on Monday (with data as of March 29, 2019). This monthly update reviews the aggregate daily and weekly liquid assets, regional exposure, and maturities (WAM and WAL) for Prime and Government money market funds. (See our April 10 News, "April Money Fund Portfolio Holdings: Treasuries Jump, Repo Plunges.") The MMF Holdings release says, "The Investment Company Institute (ICI) reports that, as of the final Friday in March, prime money market funds held 29.1 percent of their portfolios in daily liquid assets and 42.6 percent in weekly liquid assets, while government money market funds held 60.5 percent of their portfolios in daily liquid assets and 78.4 percent in weekly liquid assets." Prime DLA rose from 25.9% in February, and Prime WLA inched up from 42.4% the previous month. Govt MMFs' DLA rose from 59.7% in February and Govt WLA inched higher from 78.3% that month. ICI explains, "At the end of March, prime funds had a weighted average maturity (WAM) of 38 days and a weighted average life (WAL) of 69 days. Average WAMs and WALs are asset-weighted. Government money market funds had a WAM of 31 days and a WAL of 93 days." Prime WAMs increased by 5 days from the previous month, and WALs rose by 3 days. Govt WAMs increased by 3 days from February levels and Govt WALs also rose by three days the last month. Regarding Holdings By Region of Issuer, ICI's release tells us, "Prime money market funds' holdings attributable to the Americas rose from $273.50 billion in February to $293.06 billion in March. Government money market funds' holdings attributable to the Americas rose from $1,855.33 billion in February to $1,928.80 billion in March." The Prime Money Market Funds by Region of Issuer table shows Americas-related holdings at $293.1 billion, or 46.6%; Asia and Pacific at $119.5 billion, or 19.0%; Europe at $211.3 billion, or 33.6%; and, Other (including Supranational) at $4.6 billion, or 0.7%. The Government Money Market Funds by Region of Issuer table shows Americas at $1.929 trillion, or 82.3%; Asia and Pacific at $109.1 billion, or 4.7%; and Europe at $301.4 billion, or 12.9%.
