​ Money Market Fund Assets Continue Surge After Record August Rise. Money market fund assets rose by $​26.​73 to a record $​2.​829 trillion, say the ICI'​s latest weekly statistics. This marked money funds' ninth consecutive weekly record, a period during which they'​ve grown by $​249 billion, or 9.​7%. Money fund assets likely set the all-​time record for a monthly increase in August with flows up $​170 billion; January 2001 was the previous recordholder. Year-​to-​date inflows of $​447 billion, or 18.​8%, have funds on pace for to smash 2001'​s record $​440 billion inflow. Over the past 52 weeks, money fund assets have risen by an unbelievable $​598 billion, or 26.​8%. Money funds are gaining assets at the expense of direct money market investments and overnight repurchase agreements. The Federal Reserve continue to push its overnight funds rate below its 5.​25% target, driving investors away from repo and into funds.

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