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Financial markets

Money Market Fund Assets Reach $7.30 Trillion, Increase by $43.82 Billion

Strategic Insights

— 1 min read

Assets of total money market funds surged to $7.30 trillion, with taxable money market funds, including government funds and prime funds, showing significant growth. Retail money market fund assets also exhibited an increase, while tax-exempt funds experienced a decline. Institutional money market fund assets rose by $42.58 billion to $4.34 trillion, with government and prime funds growing at an impressive rate.

Key Takeaways:

  • Taxable money market funds saw a combined increase of $44.37 billion, driven by government funds ($41.22 billion) and prime funds ($3.15 billion).
  • Retail money market fund assets increased by $1.24 billion to $2.97 trillion, with government funds growing by $203 million to $1.86 trillion and prime funds rising by $1.17 billion to $976.73 billion.
  • Tax-exempt money market fund assets decreased by $551 million to $125.14 billion.
  • Institutional money market fund assets rose by $42.58 billion to $4.34 trillion, with government funds growing by $41.02 billion to $4.09 trillion and prime funds increasing by $1.98 billion to $232.73 billion.
  • ICI reports money market fund assets to the Federal Reserve each week, with data for previous weeks often reflecting revisions due to data adjustments, reclassifications, and changes in the number of funds reporting.
  • Weekly money market assets for the last 20 weeks are available on the ICI website.

Statistics:

  • Total money market fund assets increased by $43.82 billion to $7.30 trillion.
  • Taxable money market funds combined increase was $44.37 billion.
  • Government money market funds increased by $41.22 billion.
  • Prime money market funds increased by $3.15 billion.
  • Retail money market fund assets increased by $1.24 billion to $2.97 trillion.
  • Government money market fund assets increased by $203 million to $1.86 trillion.
  • Prime money market fund assets increased by $1.17 billion to $976.73 billion.
  • Tax-exempt fund assets decreased by $551 million to $125.14 billion.
  • Institutional money market fund assets rose by $42.58 billion to $4.34 trillion.
  • Government money market fund assets grew by $41.02 billion to $4.09 trillion.
  • Prime money market fund assets increased by $1.98 billion to $232.73 billion.

Sources:

  • Investment Company Institute press release (author not specified), issued on September 10.
  • "ICI Open-End Investment Objective Definitions" document.
  • ICI website (for weekly money market assets for the last 20 weeks).

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