ICI: Assets Lower; Still Above $7.0 Tril.
ICI's latest weekly "Money Market Fund Assets" shows money fund assets falling $9.3 billion to $7.007 trillion, after jumping $66.8 billion the week prior. Money fund assets remain just below their record level of $7.032 trillion set on April 2. They've increased by $703.0 billion (or 11.2%) since the Fed last cut rates on 9/18/24 and increasing by $1.029 trillion (or 17.2%) since 4/24/24. MMF assets are up by $886 billion, or 14.5%, in the past 52 weeks (through 6/11/25), with Institutional MMFs up $448 billion, or 12.2% and Retail MMFs up $438 billion, or 17.9%. Year-to-date, MMF assets are up by just $156 billion, or 2.3%, with Institutional MMFs up $4 billion, or 0.1% and Retail MMFs up $152 billion, or 5.5%. ICI's weekly release says, "Total money market fund assets decreased by $9.34 billion to $7.01 trillion for the week ended Wednesday, June 11.... Among taxable money market funds, government funds decreased by $7.96 billion and prime funds increased by $975 million. Tax-exempt money market funds decreased by $2.35 billion." ICI's stats show Institutional MMFs decreasing $7.8 billion and Retail MMFs decreasing $1.6 billion in the latest week. Total Government MMF assets, including Treasury funds, were $5.709 trillion (81.5% of all money funds), while Total Prime MMFs were $1.159 trillion (16.5%). Tax Exempt MMFs totaled $138.0 billion (2.0%). It explains, "Assets of retail money market funds decreased by $1.58 billion to $2.89 trillion. Among retail funds, government money market fund assets decreased by $2.37 billion to $1.82 trillion, prime money market fund assets increased by $2.73 billion to $944.48 billion, and tax-exempt fund assets decreased by $1.94 billion to $125.85 billion." Retail assets account for well over a third of total assets, or 41.2%, and Government Retail assets make up 62.9% of all Retail MMFs. They add, "Assets of institutional money market funds decreased by $7.76 billion to $4.12 trillion. Among institutional funds, government money market fund assets decreased by $5.59 billion to $3.89 trillion, prime money market fund assets decreased by $1.76 billion to $214.51 billion, and tax-exempt fund assets decreased by $414 million to $12.19 billion." Institutional assets accounted for 58.8% of all MMF assets, with Government Institutional assets making up 94.5% of all institutional MMF totals. According to Crane Data's separate Money Fund Intelligence Daily series, money fund assets have decreased by $18.2 billion in June (through 6/11/25) to $7.382 trillion, after assets hit a record high of $7.406 trillion on June 3. Assets jumped by $100.9 billion in May, fell by $24.4 billion in April, they rose $2.8 trillion in March, $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, and $15.7 billion last June. 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.
