ICI Shows Retail Still Rising
ICI's "Money Market Mutual Fund Assets" shows Retail assets continue to rise while Institutional assets continue to decline. The report says, "Total money market mutual fund assets increased by $1.71 billion to $2.596 trillion for the week ended Tuesday, July 2, the Investment Company Institute reported today. Taxable government funds increased by $220 million, taxable non-government funds decreased by $3.42 billion, and tax-exempt funds increased by $4.91 billion.... Assets of retail money market funds increased by $4.92 billion to $928.78 billion. Taxable government money market fund assets in the retail category increased by $470 million to $199.37 billion, taxable non-government money market fund assets increased by $2.15 billion to $535.84 billion, and tax-exempt fund assets increased by $2.30 billion to $193.57 billion.... Assets of institutional money market funds decreased by $3.21 billion to $1.667 trillion. Among institutional funds, taxable government money market fund assets decreased by $250 million to $703.89 billion, taxable non-government money market fund assets decreased by $5.57 billion to $890.42 billion, and tax-exempt fund assets increased by $2.61 billion to $73.06 billion." ICI also showed bond fund assets falling sharply and falling for the fourth week in a row.
