ICI's April MMF Holdings Summary
ICI released its latest monthly summary of "Money Market Fund Holdings, April 2014" yesterday, the latest edition of its series that tracks the aggregate daily and weekly liquid assets, regional exposure, and maturities (WAM and WAL) for Prime and Government money market funds (as of April 30, 2014). (See Crane Data's May 12 News, "May MMF Portfolio Holdings Show Repo, Treasury Drop, Jump in TD, CD".) ICI's "Prime and Government Money Market Funds' Daily and Weekly Liquid Assets table shows Prime Money Market Funds' Daily liquid assets at 22.9% as of April 30, 2014, down from 26.0% on 3/31/14. "Daily liquid assets" were made up of: "All securities maturing within 1 day," which totaled 17.8% (vs. 19.0% last month) and "Other treasury securities," which added 5.1% (vs. 7.0% last month). Prime funds' Weekly liquid assets totaled 36.5% (vs. 35.9% last month), which was made up of "All securities maturing within 5 days" (30.1 vs. 27.9% in March), Other treasury securities (5.1% vs. 7.0% in March), and Other agency securities (1.3% vs. 1.1% a month ago). Government Money Market Funds' Daily liquid assets total 63.6% in April vs. 62.4% in March. All securities maturing within 1 day totaled 27.6% vs. 22.0% last month. Other treasury securities added 36.0% (vs. 40.3% in March). Weekly liquid assets totaled 84.6% (vs. 85.6%), which was comprised of All securities maturing within 5 days (35.7% vs. 33.8%), Other treasury securities (36.0% vs. 37.5%), and Other agency securities (12.9% vs. 14.3%). ICI's "Prime and Government Money Market Funds' Holdings, by Region of Issuer" table shows Prime Money Market Funds with 40.9% in the Americas (vs. 48.0% last month), 18.8% in Asia Pacific (vs. 18.7%), 40.0% in Europe (vs. 33.0%), and 0.3% in Other and Supranational (vs. 0.3%). Government Money Market Funds held 88.0% in the Americas (vs. 89.3% last month), 0.5% in Asia Pacific (vs. 0.4%), 11.5% in Europe (vs. 10.2%), and 0.1% in Supranational (vs. 0.1%). The table, "Prime and Government Money Market Funds' WAMs and WALs shows Prime MMFs WAMs and WALs both shortened by two days from last month (to 45 and 81 days, respectively) and Government MMFs' WAMs shortened by one day to 44 days and their WALs increased by two days to 71 days. ICI's release explains, "Each month, ICI reports numbers based on the Securities and Exchange Commission's Form N-MFP data, which many fund sponsors provide directly to the Institute. ICI's data report for February covers funds holding 94 percent of taxable money market fund assets." Note: ICI doesn't publish individual fund holdings.
