(Reuters) - The Investment Company Institute on Tuesday issued the following money market mutual fund assets report:
”Total money market fund1assets increased by $16.47 billion to $2.59 trillion for the week ended Wednesday, May 7, the Investment Company Institute reported today. Among taxable money market funds, treasury funds (including agency and repo)increased by $6.96 billion and prime funds increased by $7.37 billion. Tax-exempt money market funds increased by $2.14 billion.
Retail:2 Assets of retail money market funds increased by$5.30 billion to $906.64 billion. Treasury money market fund assets in the retail category increased by $1.88 billion to $201.36 billion, prime money market fund assets increased by $2.20 billion to $517.37 billion, and tax-exempt fund assets increased by $1.22 billion to $187.91 billion.
Institutional:2 Assets of institutional money market funds increased by $11.16 billion to $1.68 trillion. Among institutional funds, treasury money market fund assets increased by $5.08 billion to $712.74 billion, prime money market fund assets increased by $5.16 billion to $899.97 billion, and tax-exempt fund assets increased by $920 million to $71.20 billion.
ICI reports money market fund assets to the Federal Reserve each week. Data for previous weeks reflect revisions due to data adjustments, reclassifications, and changes in the number of funds reporting. Weekly money market assets for the last 20 weeks are available on the ICI website.
1 Data for exchange-traded funds and funds that invest primarily in other mutual funds were excluded from the series. ICI classifies funds and share classes as institutional or retail based on language in the fund prospectus. Retail funds are sold primarily to the general public and include funds sold predominantly to employer-sponsored retirement plans and variable annuities. Institutional funds are sold primarily to institutional investors or institutional accounts purchased by or through an institution such as an employer, trustee, or fiduciary on behalf of its clients, employees, or owners. For a detailed description of ICIclassifications, please see ICI New Open-End Investment Objective Definitions.”