ICI's latest monthly "Trends in Mutual Fund Investing - July 2026" and "Month-End Portfolio Holdings of Taxable Money Funds" show money fund totals decreasing $43.7 billion, or -0.6%, in July to $7.857 trillion. MMFs increased by $763.9 billion, or 10.8%, over the past 12 months (through 7/31/26). Money funds' July asset decrease follows an increase of $75.9 billion in June, $157.2 billion in May, a decrease of $100.5 billion in April and $16.9 billion in March, and an increase of $59.9 billion in February. Bond fund assets decreased $45.6 billion to $5.682 trillion, and bond ETF assets increased $15.3 billion to $2.568 trillion in July 2026.
The monthly release states, "The combined assets of the nation's mutual funds decreased by $374.68 billion, or 1.1 percent, to $32.85 trillion in July, 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 $14.85 billion in July, compared with an inflow of $22.81 billion in June.... Money market funds had an outflow of $57.36 billion in July, compared with an inflow of $62.55 billion in June. In July funds offered primarily to institutions had an outflow of $48.47 billion and funds offered primarily to individuals had an outflow of $8.89 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 $44.6 billion in July to $7.707 trillion. Tax-Exempt MMFs increased $0.9 billion to $149.7 billion. Taxable MMF assets increased year-over-year by $750.9 billion (10.8%), and Tax-Exempt funds rose by $13.0 billion over the past year (9.5%). Bond fund assets decreased by $45.6 billion (after increasing by $39.9 billion in June) to $5.682 trillion; they've increased by $427.4 billion (8.1%) over the past year.
Money funds represent 23.9% of all mutual fund assets (up 0.1% from the previous month), while bond funds account for 17.3%, according to ICI. The total number of money market funds was 268, unchanged from the prior month and up from 260 a year ago. Taxable money funds numbered 229 funds, and tax-exempt money funds numbered 39 funds.
ICI's "Portfolio Holdings" confirms a drop in Repo and an increase in Treasuries last month. Treasury holdings remain the largest composition segment. In July, they increased $170.8 billion, or 5.6%, to $3.233 trillion, or 42.0% of holdings. Treasury securities have increased by $651.5 billion, or 25.2%, over the past 12 months. (See our August 12 News, "August Portfolio Holdings: Assets Flat; Treasuries Jump, Repo Plunges.")
Repurchase Agreements, the second largest composition segment, decreased $123.2 billion, or -4.3%, to $2.767 trillion, or 35.9% of holdings. Repo holdings have decreased $36.3 billion, or -1.3%, over the past year. U.S. Government Agency securities were the third largest segment; they increased $35 million, or 0.0%, to $1.107 trillion, or 14.4% of holdings. Agency holdings have increased by $207.4 billion, or 23.1%, over the past 12 months.
Certificates of Deposit (CDs) were in fourth place, down $9.1 billion, or -3.1%, to $285.7 billion (3.7% of assets). CDs decreased $30.6 billion, or -9.7%, over one year. Commercial Paper holdings were in fifth place; CP holdings decreased by $6.9 billion, or -2.4%, to $283.9 billion (3.7% of assets). CP held by money funds fell by $18.4 billion, or -6.1%, over 12 months. Other holdings increased to $25.1 billion (0.3% of assets), while Notes (including Corporate and Bank) decreased to $38.6 billion (0.5% of assets).
The Number of Accounts Outstanding in ICI's series for taxable money funds decreased to 89.495 million, while the Number of Funds was unchanged at 229. Over the past 12 months, the number of accounts rose by 8.733 million and the number of funds increased by 8. The Average Maturity of Portfolios was 40 days, unchanged from June. Over the past 12 months, WAMs of Taxable money funds are up 1 day.
