06.17.2016

ICI Reports Money Market Fund Assets

ICI.org – Washington, DC, – Total money market fund assets1 decreased by $18.56 billion to $2.71 trillion for the week ended Wednesday, June 15, the Investment Company Institute reported today. Among taxable money market funds, government funds2 increased by $7.38 billion and prime funds decreased by $23.03 billion. Tax-exempt money market funds decreased by $2.90 billion.

Assets of Money Market Funds
Billions of dollars

6/15/2016

6/8/2016

$ Change*

6/1/2016

Government

1,403.94

1,396.56

7.38

1,382.20

     Retail

415.22

413.08

2.15

410.03

     Institutional

988.72

983.49

5.23

972.17

Prime

1,099.20

1,122.23

-23.03

1,142.11

     Retail

388.27

391.93

-3.67

395.80

     Institutional

710.93

730.30

-19.37

746.31

Tax-exempt

203.70

206.60

-2.90

209.09

     Retail

158.44

160.86

-2.42

162.36

     Institutional

45.26

45.74

-0.48

46.73

Total

2,706.84

2,725.40

-18.56

2,733.40

     Retail

961.93

965.87

-3.95

968.19

     Institutional

1,744.92

1,759.53

-14.61

1,765.21

* 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 decreased by $3.95 billion to $961.93 billion. Among retail funds, government money market fund assets increased by $2.15 billion to $415.22 billion, prime money market fund assets decreased by $3.67 billion to $388.27 billion, and tax-exempt fund assets decreased by $2.42 billion to $158.44 billion.

 

Institutional:3 Assets of institutional money market funds decreased by $14.61 billion to $1.74 trillion. Among institutional funds, government money market fund assets increased by $5.23 billion to $988.72 billion, prime money market fund assets decreased by $19.37 billion to $710.93 billion, and tax-exempt fund assets decreased by $480 million to $45.26 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 recent 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. Electronification of the municipal bond market also presents a large opportunity.

  2. Aberdeen AM Looks to Grow In China

    The success of Northbound trading showed electronic execution is way forward for the bond market.

  3. Investors will be able to better assess the economic stability and creditworthiness of issuers.

  4. Nivaura has named a new CEO and Liquidnet Primary Markets is launching.

  5. Canadian Bonds Move Toward E-Trading

    The platform is simplifying the primary issuance process for fixed income.