Money

Market

Fund

Statistics

Data as of														

November 30, 2014

U.S. Securities and

Exchange

Commission

Division of

Investment

Management		

This is a report of the Staff of the Division of Investment Management of the U.S. Securities

and Exchange Commission.  The Commission has expressed no view regarding this report or

the information contained in it.   
Page | 2

Table of Contents 

Information presented in this report is based upon data reported by filers for the period ending November 30, 2014, except where 

specifically noted that a chart incorporates staff judgments. Some calculations in the change column in the above table of contents may 

not appear to total as expected due to rounding. 

TOPIC 11/30/2014 Change 10/31/2014 Page

Number of Money Market Funds Reporting (Not Including Feeder Funds) 551 ‐2 553 3

Assets (in billions) Total Money Market Funds $3,017 $20 $2,997 4

Prime Funds $1,763 $11 $1,752

Government (Govt) & Treasury Funds $992 $8 $984

Tax Exempt Funds $262 ‐ $262

7‐Day Yields (Gross/Net) Prime Funds 0.19% (0.05%) ‐ 0.19% (0.04%) 5‐6

Government & Treasury Funds 0.08% (0.01%) 0.01% 0.07% (0.01%)

Tax Exempt Funds 0.08% (0.01%) ‐ 0.08% (0.01%)

Weighted Average Life (WAL),

Weighted by Size of Fund

Prime Funds 79.1 days 0.8 days 78.3 days 7

Government & Treasury Funds 77.0 days ‐1.2 days 78.2 days

Tax Exempt Funds 39.4 days ‐1.1 days 40.5 days

Weighted Average Maturity (WAM),

Weighted by Size of Fund

Prime Funds 45.8 days ‐1.0 days 46.8 days 8

Government & Treasury Funds 46.4 days ‐1.9 days 48.3 days

Tax Exempt Funds 38.4 days ‐0.9 days 39.3 days

Liquidity of Prime Funds, As a

Percent of Total Net Assets Daily Liquidity 26.6% ‐0.2% 26.8% 9

Weekly Liquidity 40.0% ‐0.1% 40.1%

Prime Funds' Bank Holdings Holdings by Country 10‐12

Change in Holdings by Country

Holdings by Major Region

Prime Funds' Portfolio Composition

(in billions) Certificates of Deposit $615.4 (35.0%) $12.5 $602.9 (34.4%) 13

Financial Co. Commercial Paper (CP) $260.0 (14.8%) $2.2 $257.8 (14.7%)

Non‐Financial Co. Commercial Paper (CP) &

Other Short Term Instruments $442.0 (25.1%) ‐$18.5 $460.5 (26.3%)

Government & Treasury (Direct and Repo) $345.9 (19.7%) $6.0 $340.0 (19.4%)

Asset‐Backed Commercial Paper (ABCP) $94.1 (5.4%) $1.7 $92.4 (5.3%)

Non‐Government Securities All Taxable Funds 51.7% ‐0.3% 52.0% 14

MMF Repo with the Fed (in billions) $165.5 ‐$4.1 $169.6 15

Longer‐Maturity Securities 60 Days and Over 45.8% 0.3% 45.5% 16

180 Days and Over 11.8% ‐ 11.8%
Page | 3

Number of Funds

11/30/2012 598

12/31/2012 592

1/31/2013 588

2/28/2013 586

3/31/2013 583

4/30/2013 578

5/31/2013 578

6/30/2013 576

7/31/2013 573

8/31/2013 572

9/30/2013 572

10/31/2013 569

11/30/2013 565

12/31/2013 561

1/31/2014 559

2/28/2014 559

3/31/2014 559

4/30/2014 558

5/31/2014 557

6/30/2014 556

7/31/2014 553

8/31/2014 560

9/30/2014 558

10/31/2014 553

11/30/2014 551
Page | 4

Prime Govt & Treas Tax Exempt Total

11/30/2012 $1,749,308 $900,025 $283,654 $2,932,987

12/31/2012 $1,758,124 $949,151 $298,986 $3,006,262

1/31/2013 $1,772,469 $942,486 $292,145 $3,007,099

2/28/2013 $1,763,314 $929,331 $289,418 $2,981,763

3/31/2013 $1,740,603 $909,664 $281,475 $2,931,742

4/30/2013 $1,750,391 $906,748 $268,076 $2,925,214

5/31/2013 $1,734,623 $930,716 $266,658 $2,932,007

6/30/2013 $1,714,463 $923,200 $270,951 $2,908,614

7/31/2013 $1,728,373 $937,785 $273,934 $2,940,092

8/31/2013 $1,751,198 $937,421 $276,689 $2,965,308

9/30/2013 $1,762,577 $974,092 $275,112 $3,013,190

10/31/2013 $1,783,747 $946,823 $273,058 $3,003,628

11/30/2013 $1,783,333 $951,551 $273,155 $3,008,039

12/31/2013 $1,792,224 $980,874 $281,230 $3,054,328

1/31/2014 $1,794,287 $973,672 $279,055 $3,047,014

2/28/2014 $1,779,870 $958,662 $278,843 $3,017,375

3/31/2014 $1,777,905 $946,123 $280,232 $3,004,260

4/30/2014 $1,743,255 $929,843 $267,440 $2,940,539

5/31/2014 $1,738,151 $940,705 $266,923 $2,945,779

6/30/2014 $1,718,330 $945,611 $263,904 $2,927,845

7/31/2014 $1,710,127 $926,990 $266,213 $2,903,331

8/31/2014 $1,732,955 $948,940 $266,421 $2,948,316

9/30/2014 $1,726,386 $984,569 $264,469 $2,975,415

10/31/2014 $1,751,547 $984,404 $261,534 $2,997,485

11/30/2014 $1,763,437 $992,092 $261,737 $3,017,266

(Millions)
Page | 5

 

Prime Govt & Treas Tax Exempt

2/28/2013 0.25% 0.14% 0.16%

3/31/2013 0.24% 0.14% 0.17%

4/30/2013 0.23% 0.12% 0.24%

5/31/2013 0.21% 0.10% 0.18%

6/30/2013 0.21% 0.09% 0.12%

7/31/2013 0.20% 0.08% 0.11%

8/31/2013 0.20% 0.08% 0.11%

9/30/2013 0.19% 0.07% 0.12%

10/31/2013 0.19% 0.08% 0.14%

11/30/2013 0.19% 0.09% 0.11%

12/31/2013 0.19% 0.08% 0.10%

1/31/2014 0.19% 0.08% 0.10%

2/28/2014 0.19% 0.08% 0.09%

3/31/2014 0.19% 0.08% 0.11%

4/30/2014 0.19% 0.08% 0.15%

5/31/2014 0.19% 0.07% 0.11%

6/30/2014 0.19% 0.08% 0.10%

7/31/2014 0.19% 0.08% 0.10%

8/31/2014 0.19% 0.07% 0.08%

9/30/2014 0.19% 0.06% 0.08%

10/31/2014 0.19% 0.07% 0.08%

11/30/2014 0.19% 0.08% 0.08%
Page | 6

Wtd Avg Gross Prime Wtd Avg Net Prime Wtd Avg Prime Expense Ratio

2/28/2013 0.25% 0.07% 0.18%

3/31/2013 0.24% 0.07% 0.17%

4/30/2013 0.23% 0.06% 0.17%

5/31/2013 0.22% 0.05% 0.17%

6/30/2013 0.21% 0.05% 0.16%

7/31/2013 0.20% 0.05% 0.15%

8/31/2013 0.20% 0.04% 0.16%

9/30/2013 0.19% 0.04% 0.15%

10/31/2013 0.19% 0.04% 0.15%

11/30/2013 0.19% 0.04% 0.15%

12/31/2013 0.19% 0.04% 0.15%

1/31/2014 0.19% 0.04% 0.15%

2/28/2014 0.19% 0.04% 0.15%

3/31/2014 0.19% 0.04% 0.15%

4/30/2014 0.19% 0.04% 0.15%

5/31/2014 0.19% 0.04% 0.15%

6/30/2014 0.19% 0.04% 0.15%

7/31/2014 0.19% 0.04% 0.15%

8/31/2014 0.19% 0.04% 0.15%

9/30/2014 0.19% 0.04% 0.14%

10/31/2014 0.19% 0.04% 0.15%

11/30/2014 0.19% 0.05% 0.15%
Page | 7

Prime Funds Govt & Treas  Funds Tax Exempt Funds

11/30/2012 75.5 67.4 35.9

12/31/2012 70.9 62.2 34.1

1/31/2013 72.3 65.3 32.1

2/28/2013 73.7 67.6 31.2

3/31/2013 76.6 67.1 30.3

4/30/2013 74.8 66.4 27.8

5/31/2013 75.7 67.1 28.6

6/30/2013 79.1 67.6 34.0

7/31/2013 79.6 65.8 35.3

8/31/2013 78.8 66.7 43.4

9/30/2013 79.8 63.3 42.6

10/31/2013 81.3 67.2 41.9

11/30/2013 82.4 67.9 40.1

12/31/2013 79.6 65.7 36.4

1/31/2014 79.6 67.2 33.4

2/28/2014 79.8 68.4 31.1

3/31/2014 79.9 69.7 31.2

4/30/2014 78.3 71.5 30.4

5/31/2014 78.1 71.3 28.8

6/30/2014 77.8 71.8 34.2

7/31/2014 76.1 74.9 33.8

8/31/2014 76.2 73.6 38.5

9/30/2014 76.3 72.8 41.6

10/31/2014 78.3 78.2 40.5

11/30/2014 79.1 77.0 39.4

(Days)
Page | 8

Prime Funds Govt & Treas  Funds Tax Exempt Funds

11/30/2012 48.9 51.2 34.4

12/31/2012 43.6 45.7 33.0

1/31/2013 46.3 49.3 30.9

2/28/2013 47.0 51.2 30.0

3/31/2013 48.3 51.0 29.1

4/30/2013 47.4 49.9 26.3

5/31/2013 47.2 50.4 27.3

6/30/2013 49.1 50.7 32.7

7/31/2013 47.9 48.9 32.8

8/31/2013 47.6 49.8 40.7

9/30/2013 47.2 47.7 40.1

10/31/2013 47.4 50.5 39.5

11/30/2013 48.1 50.3 38.5

12/31/2013 46.0 48.3 35.3

1/31/2014 46.7 48.8 32.2

2/28/2014 46.8 47.8 29.8

3/31/2014 46.3 45.3 29.5

4/30/2014 44.7 44.6 29.0

5/31/2014 44.6 42.5 27.4

6/30/2014 44.1 42.7 32.9

7/31/2014 43.7 45.5 33.8

8/31/2014 45.5 44.0 37.3

9/30/2014 46.0 44.5 40.2

10/31/2014 46.8 48.3 39.3

11/30/2014 45.8 46.4 38.4

(Days)
Page | 9

Total Daily

Liquidity

Total Weekly

Liquidity

11/30/2012 29.0% 44.3%

12/31/2012 27.1% 41.3%

1/31/2013 26.1% 40.6%

2/28/2013 26.4% 40.5%

3/31/2013 24.8% 41.8%

4/30/2013 26.2% 40.4%

5/31/2013 23.3% 39.7%

6/30/2013 22.6% 39.5%

7/31/2013 23.8% 39.5%

8/31/2013 27.0% 41.8%

9/30/2013 25.3% 38.4%

10/31/2013 25.8% 40.2%

11/30/2013 25.4% 39.2%

12/31/2013 23.9% 37.3%

1/31/2014 23.9% 38.9%

2/28/2014 25.1% 40.4%

3/31/2014 27.8% 37.8%

4/30/2014 25.2% 38.7%

5/31/2014 23.5% 39.4%

6/30/2014 24.7% 38.4%

7/31/2014 24.2% 39.3%

8/31/2014 26.3% 40.9%

9/30/2014 25.3% 38.3%

10/31/2014 26.8% 40.1%

11/30/2014 26.6% 40.0%
Page | 10

SEC staff had to make judgments in some limited cases as to whether certain securities held in prime money market funds were

issued by a specific bank.  The banks were then grouped by country based on location of their global headquarters. In general, the

calculations include Asset Backed CP sponsored by a bank and all repos with that bank as counterparty.  If identifiable with a specific

bank, money market tranches of ABS are included in the calculation. Securities guaranteed, but not issued by, bank‐related entities

are not included.

Country Prime MMF (Millions)

US $222,185

Canada $203,881

Japan $175,146

France $162,400

Sweden $126,576

Aust/NZ $102,407

UK $98,604

Netherlands $61,916

Switzerland $52,681

Germany $45,518

Norway $37,653

Singapore $24,756

Belgium $13,377

Other $6,526

China $6,233

Spain $2,933

Grand Total $1,342,793
Page | 11

SEC staff had to make judgments in some limited cases as to whether certain securities held in prime money market funds were

issued by a specific bank.  The banks were then grouped by country based on location of their global headquarters. In general, the

calculations include Asset Backed CP sponsored by a bank and all repos with that bank as counterparty.  If identifiable with a specific

bank, money market tranches of ABS are included in the calculation. Securities guaranteed, but not issued by, bank‐related entities

are not included.

Country Change (Millions)

Canada $17,249

Netherlands $3,992

Belgium $3,313

Singapore $3,185

UK $857

China $324

Japan $296

Spain ‐$98

Other ‐$209

Switzerland ‐$221

Germany ‐$567

Aust/NZ ‐$1,844

France ‐$2,799

Sweden ‐$3,111

Norway ‐$7,888

US ‐$11,053
Page | 12

Euro‐zone is a subset of Europe and Euro‐zone values are also included in totals for Europe.

SEC staff had to make judgments in some limited cases as to whether certain securities held in prime money market funds were

issued by a specific bank.  The banks were then grouped by country based on location of their global headquarters. In general, the

calculations include Asset Backed CP sponsored by a bank and all repos with that bank as counterparty.  If identifiable with a specific

bank, money market tranches of ABS are included in the calculation. Securities guaranteed, but not issued by, bank‐related entities

are not included.

Europe Euro‐zone Americas Asia and Pacific

2/28/2013 $627,920 $321,459 $393,933 $287,392

3/31/2013 $562,706 $273,336 $410,706 $295,666

4/30/2013 $598,745 $293,278 $395,798 $290,298

5/31/2013 $609,506 $301,674 $382,342 $296,533

6/30/2013 $544,700 $273,546 $407,959 $294,152

7/31/2013 $584,217 $301,577 $387,593 $292,214

8/31/2013 $602,626 $304,426 $389,114 $288,112

9/30/2013 $580,115 $307,046 $404,408 $290,281

10/31/2013 $628,367 $345,367 $390,174 $301,212

11/30/2013 $633,537 $351,754 $389,328 $307,322

12/31/2013 $526,996 $230,508 $407,362 $316,051

1/31/2014 $653,259 $353,591 $397,161 $311,499

2/28/2014 $651,067 $356,054 $391,278 $296,627

3/31/2014 $556,687 $312,662 $390,235 $287,552

4/30/2014 $650,425 $344,265 $383,688 $287,422

5/31/2014 $641,476 $341,803 $396,681 $283,745

6/30/2014 $503,316 $278,043 $403,805 $292,188

7/31/2014 $606,555 $313,697 $400,146 $292,301

8/31/2014 $615,562 $315,775 $414,472 $339,186

9/30/2014 $492,060 $247,267 $408,751 $304,004

10/31/2014 $609,541 $283,664 $422,338 $309,488

11/30/2014 $603,310 $287,797 $428,774 $310,709

(Millions)
Page | 13

ABCP   Fin Co. CP   CD

Non‐Financial CP and

Other Short Term

Securities

Govt

(Direct & Repo)

Total

Amortized Cost

11/30/2012 $113,882 $215,457 $473,414 $279,163 $601,652 $1,683,568

12/31/2012 $121,982 $221,643 $524,144 $387,708 $496,662 $1,752,139

1/31/2013 $125,600 $260,986 $544,711 $370,882 $482,461 $1,784,640

2/28/2013 $122,433 $259,231 $528,413 $379,368 $484,440 $1,773,885

3/31/2013 $116,782 $249,250 $532,078 $377,744 $465,895 $1,741,749

4/30/2013 $111,458 $261,854 $511,671 $393,569 $475,517 $1,754,069

5/31/2013 $105,646 $270,660 $525,532 $418,814 $418,143 $1,738,795

6/30/2013 $104,886 $254,699 $524,032 $416,613 $404,968 $1,705,198

7/31/2013 $103,865 $265,100 $538,382 $405,431 $424,751 $1,737,529

8/31/2013 $105,799 $265,618 $556,143 $406,070 $422,825 $1,756,455

9/30/2013 $103,468 $245,208 $571,614 $407,313 $431,523 $1,759,126

10/31/2013 $105,114 $260,862 $559,750 $425,230 $439,521 $1,790,477

11/30/2013 $106,480 $268,153 $579,823 $417,884 $406,561 $1,778,901

12/31/2013 $105,208 $250,080 $585,029 $359,549 $474,571 $1,774,437

1/31/2014 $102,207 $268,876 $629,217 $399,619 $402,094 $1,802,013

2/28/2014 $99,178 $267,782 $613,990 $400,995 $404,519 $1,786,464

3/31/2014 $100,120 $251,317 $590,928 $351,416 $472,169 $1,765,950

4/30/2014 $100,270 $266,701 $615,826 $398,568 $366,015 $1,747,380

5/31/2014 $98,960 $267,912 $623,169 $311,391 $354,182 $1,655,614

6/30/2014 $97,085 $243,227 $597,853 $319,228 $441,524 $1,698,917

7/31/2014 $94,948 $254,551 $616,131 $380,021 $372,010 $1,717,661

8/31/2014 $95,372 $253,916 $617,783 $405,833 $358,055 $1,730,959

9/30/2014 $96,214 $239,719 $589,180 $354,600 $415,860 $1,695,573

10/31/2014 $92,388 $257,814 $602,875 $460,517 $339,950 $1,753,544

11/30/2014 $94,115 $260,014 $615,412 $441,974 $345,926 $1,757,442

(Millions)
Page | 14

Proportion of Non‐Government Securities

in all Taxable Funds, Amortized Cost

11/30/2012 56.4%

12/31/2012 52.6%

1/31/2013 52.4%

2/28/2013 52.4%

3/31/2013 51.7%

4/30/2013 53.1%

5/31/2013 50.6%

6/30/2013 50.1%

7/31/2013 51.2%

8/31/2013 49.6%

9/30/2013 48.5%

10/31/2013 49.5%

11/30/2013 51.4%

12/31/2013 45.7%

1/31/2014 50.7%

2/28/2014 50.5%

3/31/2014 47.8%

4/30/2014 49.9%

5/31/2014 52.0%

6/30/2014 47.7%

7/31/2014 51.0%

8/31/2014 51.7%

9/30/2014 47.8%

10/31/2014 52.0%

11/30/2014 51.7%
Page | 15

All MMF Total

Federal Reserve

Repo (Billions)

9/30/2013 $50.7

10/31/2013 $11.8

11/30/2013 $15.2

12/31/2013 $154.6

1/31/2014 $85.7

2/28/2014 $98.5

3/31/2014 $184.1

4/30/2014 $152.2

5/31/2014 $143.4

6/30/2014 $295.2

7/31/2014 $123.3

8/31/2014 $150.4

9/30/2014 $294.4

10/31/2014 $169.6

11/30/2014 $165.5
Page | 16

Maturities 60 days and over Maturities 180 days and over

11/30/2012 44.1% 10.1%

12/31/2012 39.0% 9.5%

1/31/2013 41.7% 10.3%

2/28/2013 41.6% 10.9%

3/31/2013 42.2% 10.4%

4/30/2013 42.3% 10.8%

5/31/2013 43.3% 10.5%

6/30/2013 44.3% 11.2%

7/31/2013 43.2% 11.6%

8/31/2013 43.0% 11.2%

9/30/2013 44.2% 11.3%

10/31/2013 45.3% 11.7%

11/30/2013 46.5% 12.0%

12/31/2013 43.6% 11.2%

1/31/2014 42.8% 12.0%

2/28/2014 44.4% 12.7%

3/31/2014 44.6% 12.3%

4/30/2014 43.1% 12.2%

5/31/2014 44.9% 11.6%

6/30/2014 44.8% 12.0%

7/31/2014 42.3% 12.1%

8/31/2014 41.6% 11.4%

9/30/2014 43.5% 11.1%

10/31/2014 45.5% 11.8%

11/30/2014 45.8% 11.8%
Page | 17

If you have any questions or comments about

Money Market Fund Statistics, please contact

Sharon Pichler and Isaac Kuznits, in the Risk

and Examinations Office (REO) of the Division

of Investment Management, at    

FormNMFP@sec.gov.