10.07.2016

ICI Reports Mny Market Fund Assets

ICI.org – Washington, DC, October 6, 2016—Total money market fund assets1 decreased by $25.06 billion to $2.66 trillion for the week ended Wednesday, October 5, the Investment Company Institute reported today. Among taxable money market funds, government funds2 increased by $87.79 billion and prime funds decreased by $110.19 billion. Tax-exempt money market funds decreased by $2.67 billion.

 

Assets of Money Market Funds Billions of dollars

  10/5/2016 9/28/2016 $ Change* 9/21/2016
Government 2,053.21 1,965.41 87.79 1,863.34
     Retail 546.06 538.02 8.05 527.06
     Institutional 1,507.14 1,427.39 79.75 1,336.28
Prime 473.24 583.43 -110.19 669.08
     Retail 273.91 279.30 -5.39 292.74
     Institutional 199.33 304.13 -104.80 376.34
Tax-exempt 128.90 131.57 -2.67 137.48
     Retail 120.74 107.41 13.32 111.07
     Institutional 8.16 24.16 -15.99 26.41
Total 2,655.35 2,680.41 -25.06 2,669.90
     Retail 940.71 924.73 15.98 930.87
     Institutional 1,714.64 1,755.68 -41.04 1,739.03

* Change in money market fund assets is primarily driven by flows and can be used as a proxy for net new cash flows.

Note: Components may not add to the total or compute to the $ change due to rounding.

 

Retail:3 Assets of retail money market funds increased by $15.98 billion to $940.71 billion. Among retail funds, government money market fund assets increased by $8.05 billion to $546.06 billion, prime money market fund assets decreased by $5.39 billion to $273.91 billion, and tax-exempt fund assets increased by $13.32 billion to $120.74 billion.

 

Institutional:3 Assets of institutional money market funds decreased by $41.04 billion to $1.71 trillion. Among institutional funds, government money market fund assets increased by $79.75 billion to $1.51 trillion, prime money market fund assets decreased by $104.80 billion to $199.33 billion, and tax-exempt fund assets decreased by $15.99 billion to $8.16 billion.

 

Notes: In anticipation of the Securities and Exchange Commission’s (SEC) new money market fund regulations, many advisers are changing their prime money market funds into government money market funds. As a result, there have been, and will continue to be, large shifts in assets from prime funds to government funds before the October 2016 deadline. For more information about the SEC’s new money market fund rules, read our ICI Viewpoints. ICI reports money market fund assets to the Federal Reserve each week. Data for previous weeks reflect revisions due to data adjustments, reclassifications, and changes in the number of funds reporting. Weekly money market assets for the last 20 weeks are available on the ICI website.

Related articles

  1. Institutional investors are increasingly considering opportunities in the digital asset class.

  2. Limited competition for benchmarks and indices, credit ratings and trading data may increase costs.

  3. This brings together all the firm's passive funds, mandates and solutions under one umbrella.

  4. Direct indexing provides a platform to bring crypto assets into advisor workflows.

  5. Direct indexing is expected to grow from $350bn AUM in 2020 to $1.5 trillion by 2025.