ICI: Assets Eke Out Record $6.923 Tril.
ICI's latest weekly "Money Market Fund Assets" report shows money fund assets inching up $5.5 billion to a record $6.923 trillion, after rising $44.9 billion the week prior but falling $30.3 billion two weeks ago. Money fund assets have risen in 20 of the last 28, and 31 of the last 43, weeks, increasing by $619.7 billion (or 9.8%) since the Fed cut on 9/18/24 and increasing by $945.8 billion (or 15.8%) since 4/24/24. MMF assets are up by $909 billion, or 15.1%, in the past 52 weeks (through 2/12/25), with Institutional MMFs up $487 billion, or 13.3% and Retail MMFs up $422 billion, or 17.9%. Year-to-date, MMF assets are up by $73 billion, or 1.1%, with Institutional MMFs up $23 billion, or 0.6% and Retail MMFs up $49 billion, or 1.8%. ICI's weekly release says, "Total money market fund assets increased by $5.48 billion to $6.92 trillion for the week ended Wednesday, February 12.... Among taxable money market funds, government funds increased by $5.90 billion and prime funds increased by $1.86 billion. Tax-exempt money market funds decreased by $2.28 billion." ICI's stats show Institutional MMFs increasing $2.8 billion and Retail MMFs increasing $2.7 billion in the latest week. Total Government MMF assets, including Treasury funds, were $5.680 trillion (82.0% of all money funds), while Total Prime MMFs were $1.112 trillion (16.1%). Tax Exempt MMFs totaled $131.3 billion (1.9%). It explains, "Assets of retail money market funds increased by $2.71 billion to $2.78 trillion. Among retail funds, government money market fund assets decreased by $375 million to $1.77 trillion, prime money market fund assets increased by $4.93 billion to $891.76 billion, and tax-exempt fund assets decreased by $1.85 billion to $119.98 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 $2.77 billion to $4.14 trillion. Among institutional funds, government money market fund assets increased by $6.28 billion to $3.91 trillion, prime money market fund assets decreased by $3.07 billion to $220.16 billion, and tax-exempt fund assets decreased by $436 million to $11.30 billion." Institutional assets accounted for 59.8% of all MMF assets, with Government Institutional assets making up 94.4% of all institutional MMF totals. According to Crane Data's separate Money Fund Intelligence Daily series, money fund assets have risen by $11.8 billion in February through 2/12/25 to $7.238 trillion. (They hit a record high on 1/7 at $7.266 trillion.) Assets rose by $52.8 billion in January, $110.9 billion in December, $200.5 trillion in November, $97.5 billion in October, $149.8 billion in September, $109.7 billion in August, $16.6 billion in July, $15.7 billion in June and $91.4 billion in May. They declined by $15.8 billion in April and $68.8 billion in March. They rose $72.1 billion last February. Note that ICI's asset totals don't include a number of funds tracked by the SEC and Crane Data, so they're about $340 billion lower than Crane's asset series.
