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Print this pageData 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.