The Investment Company Institute published its latest weekly "Money Market Fund Assets" report Thursday. ICI shows money market mutual fund assets falling after rising for the previous six weeks in a row (down $20.0 billion) to $6.304 trillion. Assets have risen in 17 of the last 22 weeks, increasing by $326.1 billion (or 5.5%) since April 24. MMF assets are up by $417 billion, or 8.8%, year-to-date in 2024 (through 9/18/24), with Institutional MMFs up $142 billion, or 4.6% and Retail MMFs up $275 billion, or 16.4%. Over the past 52 weeks, money funds have risen by $668 billion, or 11.8%, with Retail MMFs up by $442 billion (20.8%) and Inst MMFs rising by $226 billion (6.4%). ICI's weekly release says, "Total money market fund assets decreased by $20.02 billion to $6.30 trillion for the week ended Wednesday, September 18.... Among taxable money market funds, government funds decreased by $18.82 billion and prime funds decreased by $2.42 billion. Tax-exempt money market funds increased by $1.22 billion." ICI's stats show Institutional MMFs falling $25.1 billion and Retail MMFs rising $5.1 billion in the latest week. Total Government MMF assets, including Treasury funds, were $5.129 trillion (81.4% of all money funds), while Total Prime MMFs were $1.046 trillion (16.6%). Tax Exempt MMFs totaled $128.5 billion (2.0%). ICI explains, "Assets of retail money market funds increased by $5.05 billion to $2.57 trillion. Among retail funds, government money market fund assets increased by $3.41 billion to $1.63 trillion, prime money market fund assets increased by $725 million to $819.56 billion, and tax-exempt fund assets increased by $915 million to $117.75 billion." Retail assets account for over a third of total assets, or 40.7%, and Government Retail assets make up 63.5% of all Retail MMFs. They add, "Assets of institutional money market funds decreased by $25.07 billion to $3.74 trillion. Among institutional funds, government money market fund assets decreased by $22.24 billion to $3.50 trillion, prime money market fund assets decreased by $3.14 billion to $226.46 billion, and tax-exempt fund assets increased by $308 million to $10.77 billion." Institutional assets accounted for 59.3% of all MMF assets, with Government Institutional assets making up 93.7% of all institutional MMF totals. According to Crane Data's separate Money Fund Intelligence Daily series, money fund assets have risen by $20.0 billion in September (through 9/18) to $6.635 trillion. They hit a record $6.682 trillion on 9/5 but have fallen since. Assets rose by $109.7 billion in August, $16.6 billion in July, $15.7 billion in June and $91.4 billion in May, but they fell $15.8 billion in April and $68.8 billion in March. 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 and they rose $93.9 billion last September. 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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