MMF Asset Inflow Streak Continues
Money fund assets rose for the 4th week in a row, the 10th out of the past 11 weeks, and the 27th of the past 30 weeks. ICI's latest "Money Market Fund Assets" report shows that MMF totals have increased by $525 billion, or 17.2%, year-to-date in 2019. Over the past 52 weeks, ICI's money fund asset series has increased by $652 billion, or 22.3%, with Retail MMFs rising by $254 billion (23.1%) and Inst MMFs rising by $398 billion (21.9%). ICI writes, "Total money market fund assets increased by $16.61 billion to $3.57 trillion for the week ended Wednesday, November 13, the Investment Company Institute reported.... Among taxable money market funds, government funds increased by $13.77 billion and prime funds increased by $3.20 billion. Tax-exempt money market funds decreased by $364 million." ICI's weekly series shows Institutional MMFs jumping $11.4 billion and Retail MMFs increasing $5.2 billion. Total Government MMF assets, including Treasury funds, were $2.667 trillion (74.7% of all money funds), while Total Prime MMFs were $766.3 billion (21.5%). Tax Exempt MMFs totaled $138.3 billion, 3.9%. They explain, "Assets of retail money market funds increased by $5.18 billion to $1.35 trillion. Among retail funds, government money market fund assets increased by $2.65 billion to $772.99 billion, prime money market fund assets increased by $3.09 billion to $455.32 billion, and tax-exempt fund assets decreased by $562 million to $125.56 billion." Retail assets account for over a third of total assets, or 37.9%, and Government Retail assets make up 57.1% of all Retail MMFs. The release adds, "Assets of institutional money market funds increased by $11.43 billion to $2.22 trillion. Among institutional funds, government money market fund assets increased by $11.12 billion to $1.89 trillion, prime money market fund assets increased by $110 million to $311.01 billion, and tax-exempt fund assets increased by $198 million to $12.76 billion." Institutional assets accounted for 62.1% of all MMF assets, with Government Institutional assets making up 85.4% of all Institutional MMF totals.
