Data Update: Prime Money Market Funds’ Holdings

By Emily Gallagher and Chris Plantier

April 20, 2012

In October and December, we discussed how portfolio managers of U.S. prime money market funds have addressed the ongoing debt crisis in the eurozone. In February, we responded to commentators’ suggestions that U.S. prime money market funds’ increase in eurozone holdings in January reflected a renewed appetite for risk.

Here is a look at the latest monthly data on these funds’ holdings by home country of issuer. In March, prime funds’ eurozone holdings declined as a percentage of assets. We will revisit the topic in mid-May with updated analysis once April figures become available.

U.S. Prime Money Market Funds’ Holdings of Eurozone Issuers

Percentage of prime funds’ total assets, end of month

Note: Data exclude prime money market funds not registered under the Securities Act of 1933.

Sources: Investment Company Institute tabulation of publicly available Form N-MFP data prior to May 2011; ICI tabulation of data provided by Crane Data thereafter 

Prime Money Market Funds’ Holdings by Home Country of Issuer

March 31, 2012

Country Billions of dollars Percentage of total assets
World Total $1,387.4 100%
Europe 482.6 34.9
Eurozone 201.9 14.6
France 69.6 5.0
Germany 57.2 4.1
Netherlands 69.0 5.0
Belgium 2.3 0.2
Austria 2.9 0.2
Spain 0.8 0.1
Luxembourg 0.0 0.0
Italy 0.1 0.0
Non-eurozone 280.7 20.3
UK 117.6 8.5
Sweden 63.5 4.6
Switzerland 78.3 5.6
Norway 17.8 1.3
Denmark 3.5 0.3
Americas 655.7 47.3
USA 504.4 36.4
Canada 150.8 10.9
Chile 0.5 0.0
Venezuela 0.1 0.0
Asia and Pacific 241.0 17.4
Japan 125.4 9.0
AUS/NZ 111.3 8.0
Singapore 3.6 0.3
India 0.5 0.0
China 0.2 0.0
Korea 0.0 0.0
Malaysia 0.0 0.0
Supranational 2.3 0.2
Unclassified 5.7 0.4

Note: Calculations are based on a sample of 111 funds, representing an estimated 96.4 percent of prime funds' assets.

Source: Investment Company Institute tabulation of data provided by Crane Data

For more on money market funds, please visit ICI’s Money Market Funds Resource Center.

Emily Gallagher is an ICI Research Associate and Chris Plantier is an ICI Senior Economist.