The Investment Company Institute's latest weekly "Money Market Fund Assets" report shows money fund assets rising $13.4 billion to $7.785 trillion, after they increased $16.9 billion the previous week and jumped by $127.0 billion three weeks ago. MMFs fell by a massive $175.8 billion six weeks ago, their largest weekly drop ever. Assets hit a record high $7.856 trillion ten weeks ago. MMF assets are up by $836 billion, or 12.0%, over the past 52 weeks (through 5/27/26), with Institutional MMFs up $614 billion, or 15.0% and Retail MMFs up $222 billion, or 7.7%. Year-to-date in 2026, MMF assets are up by $51 billion, or 0.7%, with Institutional MMFs up $36 billion, or 0.8% and Retail MMFs up $15 billion, or 0.5%.
ICI's weekly release says, "Total money market fund assets increased by $13.39 billion to $7.78 trillion for the week ended Wednesday, May 27, the Investment Company Institute reported.... Among taxable money market funds, government funds increased by $12.37 billion and prime funds increased by $2.83 billion. Tax-exempt money market funds decreased by $1.82 billion." ICI's stats show Institutional MMFs increasing $9.4 billion and Retail MMFs increasing $4.0 billion in the latest week. Total Government MMF assets, including Treasury funds, were $6.407 trillion (82.3% of all money funds), while Total Prime MMFs were $1.230 trillion (15.8%). Tax Exempt MMFs totaled $147.9 billion (1.9%).
It explains, "Assets of retail money market funds increased by $4.03 billion to $3.09 trillion. Among retail funds, government money market fund assets increased by $5.26 billion to $1.97 trillion, prime money market fund assets increased by $246 million to $988.56 billion, and tax-exempt fund assets decreased by $1.48 billion to $134.92 billion." Retail assets account for 39.7% of the total, and Government Retail assets make up 63.7% of all Retail MMFs.
They add, "Assets of institutional money market funds increased by $9.36 billion to $4.69 trillion. Among institutional funds, government money market fund assets increased by $7.11 billion to $4.44 trillion, prime money market fund assets increased by $2.58 billion to $240.98 billion, and tax-exempt fund assets decreased by $333 million to $12.95 billion." Institutional assets accounted for 60.3% 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 increased by $157.1 billion to $8.240 trillion month-to-date in May (as of 5/27), assets hit a record high on March 18 of $8.280 trillion. Assets decreased by $108.8 billion in April, $49.3 billion in March, increased $99.5 billion in February, $32.9 billion in January, $126.3 billion in December, $132.8 billion in November, $142.1 billion in October, $105.2 billion in September and $132.0 billion in August. They rose $63.7 billion in July, $6.7 billion in June and $100.9 billion last May. 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.
The ICI also published its monthly "Trends in Mutual Fund Investing - April 2026" and "Month-End Portfolio Holdings of Taxable Money Funds" on Thursday. The latest "Trends" shows money fund totals decreasing $100.5 billion, or -1.3%, in April to $7.672 trillion. MMFs increased by $760.5 billion, or 11.0%, over the past 12 months (through 4/30/26). Money funds' April asset decrease follows a decrease of $16.9 billion in March, an increase of $59.9 billion in February, a decrease of $17.3 billion in January, an increase of $170.2 billion in December, $107.7 billion in November, $146.8 billion in October, $104.5 billion in September, $123.4 billion in August, $69.0 billion in July, $29.3 billion in June and $84.7 billion in May. Assets decreased $63.8 billion last April. Bond fund assets increased $44.0 billion to $5.621 trillion, and bond ETF assets increased $36.8 billion to $2.435 trillion in April 2026.
The monthly release states, "The combined assets of the nation's mutual funds increased by $1.45 trillion, or 4.7 percent, to $32.25 trillion in April, according to the Investment Company Institute’s official survey of the mutual fund industry. In the survey, mutual fund companies report actual assets, sales, and redemptions to ICI.... Bond funds had an inflow of $12.57 billion in April, compared with an outflow of $11.50 billion in March.... Money market funds had an outflow of $113.81 billion in April, compared with an outflow of $29.68 billion in March. In April funds offered primarily to institutions had an outflow of $64.48 billion and funds offered primarily to individuals had an outflow of $49.33 billion."
The Institute's latest statistics show that Taxable MMFs were lower while Tax Exempt MMFs were higher from last month. Taxable MMFs decreased by $100.7 billion in March to $7.527 trillion. Tax-Exempt MMFs increased $0.2 billion to $145.1 billion. Taxable MMF assets increased year-over-year by $756.1 billion (11.2%), and Tax-Exempt funds rose by $4.4 billion over the past year (3.1%). Bond fund assets increased by $44.0 billion (after decreasing by $109.7 billion in March) to $5.621 trillion; they've increased by $494.8 billion (9.7%) over the past year.
Money funds represent 23.8% of all mutual fund assets (down 1.4% from the previous month), while bond funds account for 17.4%, according to ICI. The total number of money market funds was 267, up 1 from the prior month and up from 263 a year ago. Taxable money funds numbered 226 funds, and tax-exempt money funds numbered 41 funds.
ICI's "Portfolio Holdings" confirms a decrease in Treasuries and a jump in Repo last month. Treasury holdings remain the largest composition segment. In April, they decreased $230.6 billion, or -7.2%, to $2.960 trillion, or 39.3% of holdings. Treasury securities have increased by $413.4 billion, or 16.2%, over the past 12 months. (See our May 12 News, "May MF Portfolio Holdings: Treasuries Plunge, Repo and Agencies Rise.")
Repurchase Agreements, the second largest composition segment, increased $54.2 billion, or 2.0%, to $2.834 trillion, or 37.7% of holdings. Repo holdings have increased $174.5 billion, or 6.6%, over the past year. U.S. Government Agency securities were the third largest segment; they increased $73.3 billion, or 7.2%, to $1.086 trillion, or 14.4% of holdings. Agency holdings have increased by $178.9 billion, or 19.7%, over the past 12 months.
Certificates of Deposit (CDs) was in fourth place, up $20.6 billion, or 7.6%, to $290.8 billion (3.9% of assets). CDs decreased $17.7 billion, or -5.7%, over one year. Commercial Paper holdings were in fifth place; CP holdings decreased by $8.0 billion, or -2.9%, to $268.3 billion (3.6% of assets). CP held by money funds fell by $23.0 billion, or -7.9%, over 12 months. Other holdings increased to $27.4 billion (0.4% of assets), while Notes (including Corporate and Bank) increased to $39.9 billion (0.5% of assets).
The Number of Accounts Outstanding in ICI's series for taxable money funds increased to 87.800 million, while the Number of Funds was up 1 to 226. Over the past 12 months, the number of accounts rose by 8.911 million and the number of funds increased by 4. The Average Maturity of Portfolios was 43 days, unchanged from March. Over the past 12 months, WAMs of Taxable money are up 9 days.
