ICI: Money Fund Assets Inch Down
ICI's latest weekly "Money Market Fund Assets" report shows money fund assets falling $7.3 billion to $7.065 trillion, after falling $5.9 billion the week prior and rising $55.6 billion to a record $7.078 trillion two weeks prior. MMF assets are up by $911 billion, or 14.8%, over the past 52 weeks (through 7/16/25), with Institutional MMFs up $480 billion, or 13.1% and Retail MMFs up $431 billion, or 17.3%. Year-to-date, MMF assets are up by just $215 billion, or 3.1%, with Institutional MMFs up $35 billion, or 0.8% and Retail MMFs up $180 billion, or 6.6%. ICI's weekly release says, "Total money market fund assets decreased by $7.26 billion to $7.07 trillion for the week ended Wednesday, July 16, the Investment Company Institute reported.... Among taxable money market funds, government funds decreased by $4.61 billion and prime funds decreased by $859 million. Tax-exempt money market funds decreased by $1.79 billion." ICI's stats show Institutional MMFs decreasing $11.1 billion and Retail MMFs increasing $3.9 billion in the latest week. Total Government MMF assets, including Treasury funds, were $5.750 trillion (81.4% of all money funds), while Total Prime MMFs were $1.178 trillion (16.7%). Tax Exempt MMFs totaled $136.8 billion (1.9%). It explains, "Assets of retail money market funds increased by $3.88 billion to $2.92 trillion. Among retail funds, government money market fund assets increased by $3.49 billion to $1.83 trillion, prime money market fund assets increased by $1.59 billion to $956.88 billion, and tax-exempt fund assets decreased by $1.21 billion to $123.94 billion." Retail assets account for well over a third of total assets, or 41.3%, and Government Retail assets make up 62.9% of all Retail MMFs. They add, "Assets of institutional money market funds decreased by $11.14 billion to $4.15 trillion. Among institutional funds, government money market fund assets decreased by $8.10 billion to $3.92 trillion, prime money market fund assets decreased by $2.45 billion to $221.23 billion, and tax-exempt fund assets decreased by $578 million to $12.81 billion." Institutional assets accounted for 58.7% of all MMF assets, with Government Institutional assets making up 94.4% of all institutional MMF totals. According to Crane Data's separate Money Fund Intelligence Daily series, money fund assets have increased by $29.6 billion in July (through 7/16/25) to $7.436 trillion; assets hit a record high of $7.463 trillion on July 1 but have since dipped. Assets increased by $6.7 billion in June and jumped by $100.9 billion in May, but fell by $24.4 billion in April. They rose $2.8 trillion in March, $94.2 billion in February and $52.8 billion in January. They jumped $110.9 billion in December, $200.5 trillion in November, $97.5 billion in October, $149.8 billion in September and $109.7 billion in August. 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.
