ICI Money Fund Holdings Summary
The Investment Company Institute released its latest "Money Market Fund Holdings" summary (with data as of Oct. 26, 2018) Friday. This monthly update reviews the aggregate daily and weekly liquid assets, regional exposure, and maturities (WAM and WAL) for Prime and Government money market funds. (See also Crane Data's November 13 News, "Nov. MF Portfolio Holdings: Treasury, Repo, CDs Up; Fed Repo Near Zero.") The MMF Holdings release says, "The Investment Company Institute (ICI) reports that, as of the final Friday in October, prime money market funds held 24.1 percent of their portfolios in daily liquid assets and 43.3 percent in weekly liquid assets, while government money market funds held 61.4 percent of their portfolios in daily liquid assets and 78.0 percent in weekly liquid assets." Prime DLA decreased from 25.7% in Sept., and Prime WLA increased from 43.2% in August. Govt MMFs' DLA increased from 61.1% in Sept. and Govt WLA increased from 76.8% last month. ICI explains, "At the end of October, prime funds had a weighted average maturity (WAM) of 30 days and a weighted average life (WAL) of 67 days. Average WAMs and WALs are asset-weighted. Government money market funds had a WAM of 32 days and a WAL of 89 days." Prime WAMs were down two days from last month, and WALs were down two days. Govt WAMs were down two days from Sept. and Govt WALs were unchanged from last month. Regarding Holdings By Region of Issuer, ICI's release tells us, "Prime money market funds' holdings attributable to the Americas declined from $226.26 billion in September to $212.05 billion in October. Government money market funds’ holdings attributable to the Americas declined from $1,736.95 billion in September to $1,729.35 billion in October." The Prime Money Market Funds by Region of Issuer table shows Americas-related holdings at $212.0 billion, or 39.7%; Asia and Pacific at $103.7 billion, or 19.4%; Europe at $213.0 billion, or 39.9%; and, Other (including Supranational) at $5.1 billion, or 1.0%. The Government Money Market Funds by Region of Issuer table shows Americas at $1.729 trillion, or 77.2%; Asia and Pacific at $125.1 billion, or 5.6%; and Europe at $379.9 billion, or 16.9%.
