ICI: Assets Up for 3rd Week
The Investment Company Institute's latest weekly "Money Market Fund Assets" report shows assets rising for the third week in a row and the fourth week out of the past five. The release says, "Total money market fund assets increased by $22.02 billion to $4.60 trillion for the six-day period ended Tuesday, November 23, the Investment Company Institute reported today. Among taxable money market funds, government funds increased by $27.19 billion and prime funds decreased by $4.76 billion. Tax-exempt money market funds decreased by $401 million." Money fund assets are up by $300 billion, or 7.0%, year-to-date in 2021. Inst MMFs are up $390 billion (14.1%), while Retail MMFs are down $90 billion (-5.9%). ICI's stats show Institutional MMFs increasing $19.5 billion and Retail MMFs increasing $2.5 billion in the latest week. Total Government MMF assets, including Treasury funds, were $4.061 trillion (88.3% of all money funds), while Total Prime MMFs were $448.7 billion (9.8%). Tax Exempt MMFs totaled $87.8 billion (1.9%). Over the past 52 weeks, money fund assets have increased by $273 billion, or 6.3%, with Retail MMFs falling by $98 billion (-6.4%) and Inst MMFs rising by $371 billion (13.3%). (Note that ICI's asset totals don't include a number of funds tracked by the SEC and Crane Data, so they're almost $400 billion lower than Crane's asset series.) ICI explains, "Assets of retail money market funds increased by $2.49 billion to $1.44 trillion. Among retail funds, government money market fund assets increased by $3.13 billion to $1.15 trillion, prime money market fund assets decreased by $466 million to $206.85 billion, and tax-exempt fund assets decreased by $179 million to $77.13 billion." Retail assets account for just under a third of total assets, or 31.2%, and Government Retail assets make up 80.2% of all Retail MMFs. They add, "Assets of institutional money market funds increased by $19.54 billion to $3.16 trillion. Among institutional funds, government money market fund assets increased by $24.05 billion to $2.91 trillion, prime money market fund assets decreased by $4.30 billion to $241.79 billion, and tax-exempt fund assets decreased by $223 million to $10.63 billion." Institutional assets accounted for 68.8% of all MMF assets, with Government Institutional assets making up 92.0% of all Institutional MMF totals.
