Crane Data Subscribers
Bound for $3 Trillion: Money Mkt Fund Assets Continue Dramatic Surge. Money market mutual fund assets continue to climb sharply, rising $20.2 billion to a record $2.579 trillion, according to the most recent weekly totals from the Investment Company Institute. Money funds have gained a stunning $30 billion over the past two weeks, $197.6 billion year-to-date (8.3%), and $440.0 billion (20.6%) over the past 52 weeks. Institutional assets have risen by $300 billion, or 24.2%, to a record $1.54 trillion over the past year; retail assets have grown by $140 billion, or 15.6%, to a record $1.04 trillion. If the recent 20% growth rate of assets holds -- and we believe it will even accelerate -- money fund assets should reach $3.0 trillion in less than 10 months.
