ICI published its latest weekly "Money Market Fund Assets" report on Thursday. The weekly series shows money fund assets falling $1.4 billion to $7.024 trillion, after rising $51.2 billion the week prior. Money fund assets have risen in 22 of the last 32, and 33 of the last 47 weeks, increasing by $720.5 billion (or 11.4%) since the Fed cut on 9/18/24 and increasing by $1.047 trillion (or 17.5%) since 4/24/24. MMF assets are up by $916 billion, or 15.0%, in the past 52 weeks (through 3/12/25), with Institutional MMFs up $448 billion, or 12.0% and Retail MMFs up $468 billion, or 19.6%. Year-to-date, MMF assets are up by $174 billion, or 2.5%, with Institutional MMFs up $51 billion, or 1.2% and Retail MMFs up $123 billion, or 4.5%. ICI's weekly release says, "Total money market fund assets decreased by $1.38 billion to $7.02 trillion for the week ended Wednesday, March 12... Among taxable money market funds, government funds decreased by $775 million and prime funds increased by $733 million. Tax-exempt money market funds decreased by $1.34 billion.” ICI's stats show Institutional MMFs decreasing $19.1 billion and Retail MMFs increasing $17.8 billion in the latest week. Total Government MMF assets, including Treasury funds, were $5.765 trillion (82.1% of all money funds), while Total Prime MMFs were $1.128 trillion (16.1%). Tax Exempt MMFs totaled $130.6 billion (1.9%). ICI's release explains, "Assets of retail money market funds increased by $17.75 billion to $2.86 trillion. Among retail funds, government money market fund assets increased by $11.72 billion to $1.82 trillion, prime money market fund assets increased by $6.92 billion to $915.86 billion, and tax-exempt fund assets decreased by $892 million to $120.08 billion." Retail assets account for well over a third of total assets, or 40.7%, and Government Retail assets make up 63.8% of all Retail MMFs. They add, "Assets of institutional money market funds decreased by $19.13 billion to $4.17 trillion. Among institutional funds, government money market fund assets decreased by $12.50 billion to $3.94 trillion, prime money market fund assets decreased by $6.19 billion to $212.36 billion, and tax-exempt fund assets decreased by $444 million to $10.58 billion." `Institutional assets accounted for 59.3% of all MMF assets, with Government Institutional assets making up 94.6% of all institutional MMF totals. According to Crane Data's separate Money Fund Intelligence Daily series, money fund assets have risen by $31.9 billion in March through 3/12/25, hitting a record high $7.371 trillion the day prior (3/11). Assets rose by $94.2 billion in February, $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 2024. Note that ICI's asset totals don't include a number of funds tracked by the SEC and Crane Data, so they're over $330 billion lower than Crane's asset series.
