ICI: MMFs Lower; 2nd Drop in 13 Weeks
The Investment Company Institute's latest weekly "Money Market Fund Assets" report shows money fund assets decreasing by $17.8 billion to $7.367 trillion. But assets have still risen in 3 of the last 4 weeks, and 11 of the past 13 weeks. MMFs rose $19.9 billion the prior week to a record $7.385 trillion, after rising $50.5 billion two weeks prior. MMF assets are up by $900 billion, or 13.9%, over the past 52 weeks (through 10/15/25), with Institutional MMFs up $528 billion, or 13.7% and Retail MMFs up $372 billion, or 14.2%. Year-to-date, MMF assets are up by $517 billion, or 7.5%, with Institutional MMFs up $267 billion, or 6.5% and Retail MMFs up $250 billion, or 9.1%. ICI's weekly release says, "Total money market fund assets decreased by $17.75 billion to $7.37 trillion for the week ended Wednesday, October 15, the Investment Company Institute reported.... Among taxable money market funds, government funds decreased by $14.96 billion and prime funds decreased by $3.27 billion. Tax-exempt money market funds increased by $473 million." ICI's stats show Institutional MMFs decreasing $15.9 billion and Retail MMFs decreasing $1.9 billion in the latest week. Total Government MMF assets, including Treasury funds, were $6.019 trillion (81.7% of all money funds), while Total Prime MMFs were $1.208 trillion (16.4%). Tax Exempt MMFs totaled $141.1 billion (1.9%). It explains, "Assets of retail money market funds decreased by $1.89 billion to $2.99 trillion. Among retail funds, government money market fund assets decreased by $111 million to $1.88 trillion, prime money market fund assets decreased by $2.31 billion to $979.31 billion, and tax-exempt fund assets increased by $534 million to $128.38 billion." Retail assets account for 40.5% of the total, and Government Retail assets make up 62.9% of all Retail MMFs. They add, "Assets of institutional money market funds decreased by $15.87 billion to $4.38 trillion. Among institutional funds, government money market fund assets decreased by $14.85 billion to $4.14 trillion, prime money market fund assets decreased by $958 million to $228.38 billion, and tax-exempt fund assets decreased by $61 million to $12.69 billion." Institutional assets accounted for 59.5% 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 increased by $38.9 billion to $7.746 trillion for October as of October 15, hitting a record high of $7.774 trillion on October 9. Assets increased by $105.2 billion in September, $132.0 billion in August, $63.7 billion in July, $6.7 billion in June and $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 billion in November, and $97.5 billion last October. 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.
