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Total money market mutual funds rise by US$18.47b in latest week

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"Total money market fund assets1 increased by US$18.47 billion (S$24.3 billion) to US$2.71 trillion for the week ended Wednesday, December 10, the Investment Company Institute reported today.

[NEW YORK] The Investment Company Institute on Tuesday issued the following money market mutual fund assets report: "Total money market fund assets1 increased by US$18.47 billion (S$24.3 billion) to US$2.71 trillion for the week ended Wednesday, December 10, the Investment Company Institute reported today.

Among taxable money market funds,Treasury funds (including agency and repo) increased by US$8.49 billion and prime funds increased by US$9.38 billion. Tax-exempt money market funds increased by US$600 million.

Assets of retail money market funds decreased by US$2.65 billion to US$897.67 billion. Among retail funds,Treasury money market fund assets decreased by US$1.74 billion to US$196.48 billion, prime money market fund assets decreased by US$1.41 billion to US$515.19 billion, and tax-exempt fund assets increased by US$500 million to US$186.00 billion.

Assets of institutional money market funds increased by US$21.12 billion to US$1.81 trillion. Among institutional funds, Treasury money market fund assets increased by US$10.24 billion to US$790.32 billion, prime money market fund assets increased by US$10.78 billion to US$947.99 billion, and tax-exempt fund assets increased by US$100 million to US$70.37 billion.

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.

Data for exchange-traded funds and funds that invest primarily in other mutual funds were excluded from the series.

ICI classifies funds and share classes as institutional or retail based on language in the fund prospectus. Retail funds are sold primarily to the general public and include funds sold predominantly to employer-sponsored retirement plans and variable annuities. Institutional funds are sold primarily to institutional investors or institutional accounts purchased by or through an institution such as an employer, trustee, or fiduciary on behalf of its clients, employees, or owners.

REUTERS