ICI Viewpoints
Data Update 1: Money Market Funds and the Eurozone Debt Crisis
In October, we discussed how portfolio managers of U.S. prime money market funds have addressed the ongoing debt crisis in the eurozone. Here is a look at the latest monthly data on these funds’ holdings by home country of issuer. We will revisit the topic in mid-December with updated analysis once November 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
October 31, 2011
| Country | Billions of dollars | Percentage of assets |
| World Total | $1,293.1 | 100% |
| Europe | 512.2 | 39.5 |
| Eurozone | 225.1 | 17.4 |
| France | 94.4 | 7.3 |
| Germany | 64.9 | 5.0 |
| Netherlands | 58.2 | 4.5 |
| Belgium | 4.2 | 0.3 |
| Austria | 2.1 | 0.2 |
| Spain | 0.7 | 0.1 |
| Luxembourg | 0.5 | 0.0 |
| Italy | 0.1 | 0.0 |
| Non-eurozone | 287.1 | 22.1 |
| UK | 132.5 | 10.2 |
| Switzerland | 65.8 | 5.1 |
| Sweden | 63.4 | 4.9 |
| Norway | 19.8 | 1.5 |
| Denmark | 5.6 | 0.4 |
| Americas | 571.3 | 44.2 |
| USA | 449.0 | 34.7 |
| Canada | 121.9 | 9.4 |
| Chile | 0.4 | 0.0 |
| Asia and Pacific | 196.5 | 15.2 |
| AUS/NZ | 102.9 | 8.0 |
| Japan | 93.0 | 7.2 |
| India | 0.6 | 0.0 |
| Korea | 0.0 | 0.0 |
| Supranational | 0.5 | 0.0 |
| Unclassified | 12.6 | 1.0 |
Note: Calculations are based on a sample of 95 funds, representing an estimated 89.8 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.
Sean Collins is Chief Economist at ICI.
Chris Plantier is a senior economist in ICI’s Research Department.