MMFs' Record August Run Continues
The Investment Company Institute released its latest weekly "Money Market Fund Assets" report Thursday, which shows money fund assets jumping $33.3 billion to another record of $7.186 trillion. MMFs rose $76.2 billion the week prior. MMF assets are up by $969 billion, or 15.6%, over the past 52 weeks (through 8/13/25), with Institutional MMFs up $539 billion, or 14.5% and Retail MMFs up $430 billion, or 17.1%. Year-to-date, MMF assets are up by $335 billion, or 4.9%, with Institutional MMFs up $130 billion, or 3.2% and Retail MMFs up $206 billion, or 7.5%. ICI's weekly release says, "Total money market fund assets increased by $33.32 billion to $7.19 trillion for the week ended Wednesday, August 13, the Investment Company Institute reported.... Among taxable money market funds, government funds increased by $32.41 billion and prime funds in-creased by $2.71 billion. Tax-exempt money market funds decreased by $1.80 billion." ICI's stats show Institutional MMFs increasing $23.5 billion and Retail MMFs increasing $9.9 billion in the latest week. Total Government MMF assets, including Treasury funds, were $5.858 trillion (81.5% of all money funds), while Total Prime MMFs were $1.192 trillion (16.6%). Tax Exempt MMFs totaled $135.8 billion (1.9%). It explains, "Assets of retail money market funds increased by $9.85 billion to $2.94 trillion.. Among retail funds, government money market fund assets increased by $7.53 billion to $1.85 trillion, prime money market fund assets increased by $3.17 billion to $967.73 billion, and tax-exempt fund assets decreased by $855 million to $123.11 billion." Retail assets account for 40.9% of the total, and Government Retail assets make up 62.9% of all Retail MMFs. They add, "Assets of institutional money market funds increased by $23.47 billion to $4.25 trillion. Among institutional funds, government money market fund assets increased by $24.88 billion to $4.01 trillion, prime money market fund assets decreased by $465 mil-lion to $224.07 billion, and tax-exempt fund assets decreased by $945 million to $12.70 billion." Institutional assets accounted for 59.1% 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 $93.7 billion in August (through 8/13/25) to $7.564 trillion. Assets broke above $7.5 trillion on August 4, hit a new record high of $7.575 trillion on August 12, but have since inched lower. Assets increased by $63.7 billion in July, $6.7 billion in June and jumped by $100.9 billion in May. They fell by $24.4 billion in April, but 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 last August. Note that ICI's asset totals don't include a number of funds tracked by the SEC and Crane Data, so they're almost $400 billion lower than Crane's asset series.
