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Print this pagePrime Money Market Funds’ Eurozone Holdings Down 50 Percent over The Last Year
By Emily Gallagher and Chris Plantier
Mon May 21 00:00:00 EDT 2012
Securities of eurozone issuers accounted for 15.7 percent of assets of U.S. prime money market funds in April, up from 14.6 percent in March (see chart below). This increase was driven by a rise in holdings of German assets (up to 5.4 percent from 4.1 percent last month) and by a small rise in holdings of French assets (up to 5.2 percent from 5.0 percent last month). Over the last year, however, the share of eurozone holdings has declined from 30.1 percent in April 2011 to 15.7 percent in April 2012.
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
April 30, 2012
| Country | Billions of dollars | Percentage of total assets |
| World Total | $1,386.4 | 100% |
| Europe | 481.6 | 34.7 |
| Eurozone | 218.3 | 15.7 |
| France | 72.6 | 5.2 |
| Germany | 74.9 | 5.4 |
| Netherlands | 64.7 | 4.7 |
| Belgium | 1.9 | 0.1 |
| Austria | 3.0 | 0.2 |
| Spain | 0.8 | 0.1 |
| Luxembourg | 0.3 | 0.0 |
| Italy | 0.1 | 0.0 |
| Non-eurozone | 261.9 | 18.9 |
| UK | 108.9 | 7.9 |
| Sweden | 57.0 | 4.1 |
| Switzerland | 76.9 | 5.5 |
| Norway | 13.5 | 1.0 |
| Denmark | 5.6 | 0.4 |
| Americas | 646.0 | 46.6 |
| USA | 501.1 | 36.1 |
| Canada | 144.2 | 10.4 |
| Chile | 0.6 | 0.0 |
| Venezuela | 0.1 | 0.0 |
| Asia and Pacific | 238.6 | 17.2 |
| Japan | 123.6 | 8.9 |
| AUS/NZ | 109.8 | 7.9 |
| Singapore | 4.0 | 0.3 |
| India | 0.5 | 0.0 |
| China | 0.7 | 0.0 |
| Korea | 0.0 | 0.0 |
| Malaysia | 0.0 | 0.0 |
| Supranational | 1.4 | 0.1 |
| Unclassified | 20.3 | 1.5 |
Note: Calculations are based on a sample of 109 funds, representing an estimated 96.8 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.