ICI Monthly Portfolio Composition
ICI recently released its latest monthly "Money Market Fund Holdings" summary, which reviews the aggregate daily and weekly liquid assets, regional exposure, and maturities (WAM and WAL) for Prime and Government money market funds. It tells us, "The Investment Company Institute (ICI) reports that, as of the final Friday in April, prime money market funds held 45.8 percent of their portfolios in daily liquid assets and 62.3 percent in weekly liquid assets, while government money market funds held 71.6 percent of their portfolios in daily liquid assets and 83.9 percent in weekly liquid assets." Prime DLA was down from 46.7% in March, and Prime WLA was unchanged. Govt MMFs' DLA fell from 74.7% and Govt WLA was down from 86.3% for the previous month. ICI explains, "At the end of April, prime funds had a weighted average maturity (WAM) of 38 days and a weighted average life (WAL) of 59 days. Average WAMs and WALs are asset-weighted. Government money market funds had a WAM of 44 days and a WAL of 98 days." Prime WAMs and WALs were both up from the previous month, WAMs were 4 days longer and WALs were 3 days longer. Govt WAMs and WALs were both unchanged from the previous month. Regarding Holdings by Region of Issuer, the release tells us, "Prime money market funds’ holdings attributable to the Americas declined from $813.99 billion in March to $763.06 billion in April. Government money market funds’ holdings attributable to the Americas declined from $5,935.68 billion in March to $5,799.64 billion in April." The Prime Money Market Funds by Region of Issuer table shows Americas-related holdings at $763.1 billion, or 63.0%; Asia and Pacific at $165.6 billion, or 13.7%; Europe at $265.5 billion, or 21.9%; and, Other (including Supranational) at $16.4 billion, or 1.4%. The Government Money Market Funds by Region of Issuer table shows Americas at $5.800 trillion, or 92.0%; Asia and Pacific at $106.5 or 1.7%; Europe at $367.9 billion, 5.8%, and Other (Including Supranational) at $28.2 billion, or 0.4%.
