After almost breaking the $8.0 trillion barrier four weeks prior, the Investment Company Institute's latest weekly "Money Market Fund Assets" report shows money fund assets falling $6.8 billion to $7.861 trillion. Assets fell $22.6 billion the previous week and decreased $59.7 billion the week before this. But MMF assets are still up by $788 billion, or 11.0%, over the past 52 weeks (through 7/29/26), with Institutional MMFs up $614 billion, or 14.7% and Retail MMFs up $164 billion, or 5.6%. Year-to-date in 2026, MMF assets are up by $121 billion, or 1.6%, with Institutional MMFs up $120 billion, or 2.6% and Retail MMFs up $0.2 billion, or 0.0%.
ICI's weekly release says, "Total money market fund assets decreased by $6.82 billion to $7.85 trillion for the week ended Wednesday, July 29, the Investment Company Institute reported.... Among taxable money market funds, government funds decreased by $5.90 billion and prime funds decreased by $2.46 billion. Tax-exempt money market funds increased by $1.55 billion." ICI's stats show Institutional MMFs decreasing $0.7 billion and Retail MMFs decreasing $6.1 billion in the latest week. Total Government MMF assets, including Treasury funds, were $6.473 trillion (82.4% of all money funds), while Total Prime MMFs were $1.231 trillion (15.7%). Tax Exempt MMFs totaled $150.1 billion (1.9%).
It explains, "Assets of retail money market funds decreased by $6.11 billion to $3.08 trillion. Among retail funds, government money market fund assets decreased by $4.85 billion to $1.96 trillion, prime money market fund assets decreased by $2.29 billion to $984.27 billion, and tax-exempt fund assets increased by $1.03 billion to $137.40 billion." Retail assets account for 39.2% of the total, and Government Retail assets make up 63.6% of all Retail MMFs.
They add, "Assets of institutional money market funds decreased by $711 million to $4.78 trillion. Among institutional funds, government money market fund assets decreased by $1.06 billion to $4.52 trillion, prime money market fund assets decreased by $171 million to $246.85 billion, and tax-exempt fund assets increased by $516 million to $12.74 billion." Institutional assets accounted for 60.8% of all MMF assets, with Government Institutional assets making up 94.6% of all institutional MMF totals.
According to Crane Data's separate Money Fund Intelligence Daily series, money fund assets have decreased by $60.0 billion to $8.290 trillion month-to-date in July (as of 7/29), assets reached an all-time high of $8.404 trillion on July 6. Assets increased $58.6 billion in June, $208.6 billion in May, decreased by $108.8 billion in April, $49.3 billion in March, increased $99.5 billion in February, $32.9 billion in January, $126.3 billion in December, $132.8 billion in November, $142.1 billion in October, $105.2 billion in September and $132.0 billion in August. They rose $63.7 billion last July. Note that `ICI's asset totals don't include a number of funds tracked by the SEC and Crane Data, so they're almost $400 billion lower than Crane's asset series.
ICI also published its monthly "Trends in Mutual Fund Investing - June 2026" and "Month-End Portfolio Holdings of Taxable Money Funds" on Thursday. The latest "Trends" shows money fund totals increasing $75.9 billion, or 1.0%, in June to $7.900 trillion. MMFs increased by $876.6 billion, or 12.5%, over the past 12 months (through 6/30/26). Money funds' June asset increase follows an increase of $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 increased $39.9 billion to $5.727 trillion, and bond ETF assets increased $51.8 billion to $2.553 trillion in June 2026.
The monthly release states, "The combined assets of the nation's mutual funds increased by $66.71 billion, or 0.2 percent, to $33.22 trillion in June, 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 $22.81 billion in June, compared with an inflow of $42.79 billion in May.... Money market funds had an inflow of $62.55 billion in June, compared with an inflow of $143.66 billion in May. In June funds offered primarily to institutions had an inflow of $76.18 billion and funds offered primarily to individuals had an outflow of $13.63 billion."
The Institute's latest statistics show that Taxable MMFs and Tax Exempt MMFs were both higher from last month. Taxable MMFs increased by $73.5 billion in June to $7.752 trillion. Tax-Exempt MMFs increased $2.3 billion to $148.8 billion. Taxable MMF assets increased year-over-year by $866.0 billion (12.6%), and Tax-Exempt funds rose by $10.6 billion over the past year (7.7%). Bond fund assets increased by $39.9 billion (after increasing by $66.9 billion in May) to $5.727 trillion; they've increased by $505.0 billion (9.7%) over the past year.
Money funds represent 23.8% of all mutual fund assets (up 0.2% from the previous month), while bond funds account for 17.2%, according to ICI. The total number of money market funds was 268, up 1 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 Treasuries and an increase in Repo last month. Treasury holdings remain the largest composition segment. In June, they decreased $79.3 billion, or -2.5%, to $3.062 trillion, or 39.5% of holdings. Treasury securities have increased by $580.4 billion, or 23.4%, over the past 12 months. (See our July 13 News, "July MF Portfolio Holdings: Assets Flat; Repo Jumps, Treasuries Plunge.")
Repurchase Agreements, the second largest composition segment, increased $69.7 billion, or 2.5%, to $2.890 trillion, or 37.3% of holdings. Repo holdings have decreased $8.9 billion, or -0.3%, over the past year. U.S. Government Agency securities were the third largest segment; they increased $15.5 billion, or 1.4%, to $1.107 trillion, or 14.3% of holdings. Agency holdings have increased by $194.8 billion, or 21.4%, over the past 12 months.
Certificates of Deposit (CDs) were in fourth place, down $3.1 billion, or -1.0%, to $294.8 billion (3.8% of assets). CDs decreased $1.7 billion, or -0.6%, over one year. Commercial Paper holdings were in fifth place; CP holdings increased by $10.4 billion, or 3.7%, to $290.8 billion (3.8% of assets). CP held by money funds fell by $1.7 billion, or -0.6%, over 12 months. Other holdings decreased to $24.5 billion (0.3% of assets), while Notes (including Corporate and Bank) increased to $47.3 billion (0.6% of assets).
The Number of Accounts Outstanding in ICI's series for taxable money funds increased to 89.695 million, while the Number of Funds was up 1 to 229. Over the past 12 months, the number of accounts rose by 10.132 million and the number of funds increased by 8. The Average Maturity of Portfolios was 40 days, down 3 days from May. Over the past 12 months, WAMs of Taxable money funds are up 4 days.
