The Investment Company Institute published its latest weekly "Money Market Fund Assets" report, Thursday. ICI's weekly shows money market mutual fund assets rising for the seventh straight week to $6.093 trillion, just $18 billion below their April 3 record of $6.111 trillion. MMF assets are up by $206 billion, or 4.4%, year-to-date in 2024 (through 6/5/24), with Institutional MMFs up $48 billion, or 1.6% and Retail MMFs up $158 billion, or 9.4%. Over the past 52 weeks, money funds have risen by $636 billion, or 11.7%, with Retail MMFs rising by $465 billion (23.4%) and Inst MMFs rising by $171 billion (4.9%). The weekly release says, "Total money market fund assets increased by $23.14 billion to $6.09 trillion for the week ended Wednesday, June 5, the Investment Company Institute reported.... Among taxable money market funds, government funds increased by $16.37 billion and prime funds increased by $5.27 billion. Tax-exempt money market funds increased by $1.50 billion." ICI's stats show Institutional MMFs increasing $8.9 billion and Retail MMFs rising $14.3 billion in the latest week. Total Government MMF assets, including Treasury funds, were $4.921 trillion (80.8% of all money funds), while Total Prime MMFs were $1.041 trillion (17.1%). Tax Exempt MMFs totaled $130.7 billion (2.1%). ICI explains, "Assets of retail money market funds increased by $14.25 billion to $2.45 trillion. Among retail funds, government money market fund assets increased by $8.95 billion to $1.56 trillion, prime money market fund assets increased by $4.19 billion to $769.33 billion, and tax-exempt fund assets increased by $1.10 billion to $118.66 billion." Retail assets account for over a third of total assets, or 40.2%, and Government Retail assets make up 63.7% of all Retail MMFs. They add, "Assets of institutional money market funds increased by $8.90 billion to $3.64 trillion. Among institutional funds, government money market fund assets increased by $7.42 billion to $3.36 trillion, prime money market fund assets increased by $1.08 billion to $271.55 billion, and tax-exempt fund assets increased by $393 million to $12.04 billion." Institutional assets accounted for 59.8% of all MMF assets, with Government Institutional assets making up 92.2% of all institutional MMF totals. According to Crane Data's separate Money Fund Intelligence Daily series, money fund assets have risen by $5.4 billion in June (through 6/5) to $6.479 trillion. (They hit a record $6.538 trillion on 4/2.) Assets rose by $91.4 billion in May, fell $15.8 billion in April and $68.8 billion in March. But they rose $72.1 billion in February, $93.9 billion in January, $32.7 billion in December and $226.4 billion in November. MMF totals fell by $31.9 billion in October. They rose $93.9 billion in September, $98.3 billion in August and $34.7 billion in July. Note that ICI's asset totals don't include a number of funds tracked by the SEC and Crane Data, so they're over $400 billion lower than Crane's asset series.

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