The Investment Company Institute published, "Worldwide Regulated Open-Fund Assets and Flows, Second Quarter 2026," which shows that money fund assets globally rose by $250.0 billion, or 1.9%, in Q2'26 to a record $13.720 trillion. (The totals would have been $13.993 trillion if Australia and New Zealand had been included.) Increases were led by a sharp jump in money funds in the U.S. and China, while Ireland and Brazil also showed gains. Meanwhile, money funds in France and the Republic of Korea were lower. MMF assets worldwide increased by $1.406 trillion, or 11.4%, in the 12 months through 6/30/26, and money funds in the U.S. now represent 57.6% of worldwide assets. Asian money fund totals remained above European money fund totals, with Asia extending its lead slightly in Q2. We review the latest Worldwide MMF assets, below. (Note: For those of you attending our European Money Fund Symposium this week, Sept. 24-25, welcome to Paris!)
ICI's release says, "Worldwide regulated open-end fund assets, excluding funds of funds, increased 9.0% to $95.20 trillion at the end of the second quarter of 2026. Worldwide net cash inflow to all funds was $1.0 trillion in the second quarter, compared with $934 billion of net inflows in the first quarter of 2026. The Investment Company Institute compiles worldwide regulated open-end fund statistics on behalf of the International Investment Funds Association (IIFA), the organization of national fund associations. The collection for the second quarter of 2026 contains statistics from 44 jurisdictions."
It explains, "The growth rate of total regulated open-end fund assets, as reported in US dollars, decreased due to US dollar appreciation over the second quarter of 2026. For example, on a US dollar-denominated basis, fund assets in Europe increased by 7.3% in the second quarter, compared with an increase of 8.3% on a euro-denominated basis."
ICI's quarterly continues, "On a US dollar-denominated basis, equity fund assets increased by 14.6% to $47.53 trillion at the end of the second quarter of 2026. Bond fund assets increased by 4.1% to $17.65 trillion in the second quarter. Balanced/mixed fund assets increased by 7.4% to $9.09 trillion in the second quarter, while money market fund assets increased by 1.8% globally to $13.72 trillion."
The release also tells us, "At the end of the second quarter of 2026, 50% of worldwide regulated open-end fund assets were held in equity funds. The asset share of bond funds was 19% and the asset share of balanced/mixed funds was 10%. Money market fund assets represented 14% of the worldwide total. By region, 57% of worldwide assets were in the Americas in the second quarter of 2026, 31% were in Europe, and 12% were in Africa and the Asia-Pacific regions."
ICI adds, "Net sales of regulated open-end funds worldwide were $1.0 trillion in the second quarter of 2026.... Globally, bond funds posted an inflow of $550 billion in the second quarter of 2026, after recording an inflow of $380 billion in the first quarter.... Money market funds worldwide experienced an inflow of $208 billion in the second quarter of 2026 after registering an inflow of $193 billion in the first quarter of 2026."
According to Crane Data's analysis of ICI's "Worldwide" fund data, the U.S. sustained its position as the largest money fund market in Q2'26 with $7.900 trillion, or 57.6% of all global MMF assets. U.S. MMF assets increased by $128.3 billion (1.7%) in Q2'26 and have increased by $876.6 billion (12.5%) in the 12 months through June 30, 2026. China remained in second place among countries overall. China saw assets increase $43.6 billion (1.9%) in Q2 to $2.302 trillion (16.8% of worldwide assets). Over the 12 months through June 30, 2026, Chinese MMF assets have increased by $316.0 billion, or 15.9%.
Ireland remained third among country rankings, ending Q2 with $1.124 trillion (8.2% of worldwide assets). Irish MMFs were up $33.3B for the quarter, or 3.1%, and up $111.1B, or 11.0%, over the last 12 months. Luxembourg remained in fourth place with $802.0 billion (5.8% of worldwide assets). Assets there increased $12.9 billion, or 1.6%, in Q2, and were up $69.0 billion, or 9.4%, over one year. France was in fifth place with $495.7B, or 3.6% of the total, down $11.9 billion in Q2 (-2.3%) and down $27.9B (-5.3%) over 12 months.
Australia was listed (by us) in sixth place with $268.7 billion, or 2.0% of worldwide assets. Its MMF data was unavailable for 2024, 2025 and Q1, Q2 2026, so we kept the 2023 Q4 numbers. Mexico was in 7th place with $176.4 billion (1.3%); assets there increased $10.3 billion (6.2%) in Q2 and increased by $26.6 billion (17.8%) over 12 months. Brazil was the 8th ranked country and saw MMF assets increase $17.3 billion, or 12.4%, in Q2'26 to $157.5 billion (1.1% of the total); they've increased $17.2 billion (12.3%) for the year. Korea was in 9th place, as assets decreased $5.8 billion, or -3.8%, to $147.0 billion (1.1% of total assets) in Q2. They've decreased $3.5 billion (-2.3%) over the previous 12 months. ICI's statistics show Japan was listed in 10th place with $100.6B, or 0.7% of total assets, down $188 million (-0.2%) for the quarter.
India was in 11th place, increasing $9.1 billion, or 10.9%, to $92.4 billion (0.7% of total assets) in Q2 and increasing $173 million (0.2%) over the previous 12 months. Canada ($72.0B, down $1.9 billion and up $1.2B over the quarter and year, respectively) ranked 12th ahead of United Kingdom. ($43.5B, up $948M and up $6.2B). Argentina ($41.1B, up $1.8B and up $7.8B) and Switzerland ($40.9B, up $519M and down $7.0B), rank 14th and 15th, respectively. Chinese Taipei, Chile, Turkey, Spain and South Africa round out the 20 largest countries with money market mutual funds.
ICI's quarterly series shows money fund assets in the Americas total $8.388 trillion, up $156.6 billion in Q2. Asian MMFs increased by $46.0 billion to $2.692 trillion, and Europe saw its money funds rise $45.8 billion in Q2'26 to $2.615 trillion. Africa saw its money funds increased $1.6 billion to $25.9 billion.
Note that Ireland and Luxembourg's totals are primarily "offshore" money funds marketed to global multinationals, while most of the other countries in the survey have mainly domestic money fund offerings. Contact us if you'd like our latest "Largest Money Market Funds Markets Worldwide" spreadsheet, based on ICI's data. (Let us know too if you'd like to see our latest Money Fund Intelligence International product, which tracks "offshore" money market funds domiciled in Europe and outside the U.S.)
