ICI: MF Assets Hit Record $6.917 Tril.
ICI's latest weekly "Money Market Fund Assets" report shows money fund assets rising $44.2 billion to a record $6.917 trillion, after falling $30.3 billion the week prior but jumping $41.6 billion two weeks ago. Money fund assets have risen in 19 of the last 27, and 30 of the last 42, weeks, increasing by $613.5 billion (or 9.7%) since the Fed cut on 9/18/24 and increasing by $939.6 billion (or 15.7%) since 4/24/24. MMF assets are up by $899 billion, or 14.9%, in the past 52 weeks (through 2/5/25), with Institutional MMFs up $479 billion, or 13.1% and Retail MMFs up $420 billion, or 17.8%. Year-to-date, MMF assets are up by $67 billion, or 1.0%, with Institutional MMFs up $21 billion, or 0.5% and Retail MMFs up $46 billion, or 1.7%. ICI's weekly release says, "Total money market fund assets increased by $44.18 billion to $6.92 trillion for the week ended Wednesday, February 5, the Investment Company Institute reported.... Among taxable money market funds, government funds increased by $37.57 billion and prime funds increased by $7.22 billion. Tax-exempt money market funds decreased by $602 million." ICI's stats show Institutional MMFs increasing $19.8 billion and Retail MMFs increasing $24.4 billion in the latest week. Total Government MMF assets, including Treasury funds, were $5.673 trillion (82.0% of all money funds), while Total Prime MMFs were $1.110 trillion (16.0%). Tax Exempt MMFs totaled $133.6 billion (2.0%). It explains, "Assets of retail money market funds increased by $24.43 billion to $2.78 trillion. Among retail funds, government money market fund assets increased by $17.28 billion to $1.77 trillion, prime money market fund assets increased by $7.70 billion to $886.83 billion, and tax-exempt fund assets decreased by $556 million to $121.83 billion." Retail assets account for over a third of total assets, or 40.2%, and Government Retail assets make up 63.7% of all Retail MMFs. They add, "Assets of institutional money market funds increased by $19.75 billion to $4.14 trillion. Among institutional funds, government money market fund assets increased by $20.28 billion to $3.90 trillion, prime money market fund assets decreased by $486 million to $223.23 billion, and tax-exempt fund assets decreased by $46 million to $11.73 billion." Institutional assets accounted for 59.8% of all MMF assets, with Government Institutional assets making up 94.3% of all institutional MMF totals. According to Crane Data's separate Money Fund Intelligence Daily series, money fund assets have risen by $18.7 billion in February through 2/5/25 to $7.245 trillion. (They hit a record high on 1/7 at $7.266 trillion.) Assets rose by $52.8 billion in January, $110.9 billion in December, $200.5 trillion in November, $97.5 billion in October, $149.8 billion in September, $109.7 billion in August, $16.6 billion in July, $15.7 billion in June and $91.4 billion in May. They declined by $15.8 billion in April and $68.8 billion in March. They rose $72.1 billion last February. Note that ICI's asset totals don't include a number of funds tracked by the SEC and Crane Data, so they're about $340 billion lower than Crane's asset series.
