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Rating:Money Fund Assets Plunge $41 Billion Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, May 03, 2002

TRENDS
Money Fund Assets Plunge $41 Billion

by: Sean Hanna, Editor in Chief

Money fund assets plummeted by more than $41 billion during the week ended May 2, reports the Investment Company Institute. The largest fall in assets (more than $32 billion) was in taxable institutional funds.

That trend suggests that the activity reflects corporate cash management activity and not reallocation of portfolios by investors. If true, equity funds would not have benefited from the shift to a large extent.

Money Fund Flows ($ mm)
Week of Total Net Flows Retail Net Flows Institutional Net Flows
Taxable Tax-Exempt Taxable Tax-Exempt
May 2 ($41,710) ($7,920) ($2,450) ($32,270) $925
April 24 $106.2 ($6,190) ($4,970) $11,920 ($652)
April 17 ($21,940) ($7,810) ($1,690) ($12,450) ($9,690)
April 10 $6,910 ($2,590) ($690) $10,540 ($355)
April 3 ($11,240) ($856) $1,550 ($12,870) $947
Source: Investment Company Institute (ICI)
 

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