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Weekly Money-Market Assets Up, ICI Says

By Janet Levaux

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Total money-market mutual fund assets grew by $560 million, to $2.751 trillion, for the week ended Wednesday, the Investment Company Institute reported Thursday. This up slightly from a week ago, but lower than the Feb. 16 total of $2.756 trillion.

Assets in taxable government funds, though, dropped by $1.11 billion for the past week, according to ICI, to $796.6 billion.

Other fund groups with higher assets included taxable non-government funds, up by $1.03 billion to $1.629 trillion, and tax-exempt funds, which increased by $640 million to reach $2.751 trillion.

Assets of retail money-market funds increased by $4.20 billion to $933.86 billion as of March 2, while taxable government money-market fund assets in the retail category dropped by $1.05 billion to $175.25 billion.

Taxable non-government money-market fund assets held by retail investors increased by $4.25 billion to $553.11 billion, and tax-exempt fund assets grew by $1.01 billion to $205.50 billion.

Assets of institutional money market-funds decreased by $3.64 billion to $1.817 trillion for the most recent week.

Among institutional funds, taxable government money-market fund assets declined by $60 million to $621.38 billion, taxable non-government money market-fund assets droipped by $3.22 billion to $1.076 trillion, and tax-exempt fund assets fell by $360 million to $119.85 billion.

ICI says that it reports money-market fund assets to the Federal Reserve each week. Historical weekly money market data back to January 2008 are available on the ICI website.