Money Fund Assets Jump $122.4B
The Investment Company Institute's latest weekly "Money Market Fund Assets" report shows money fund assets jumping by $122.4 billion to $7.749 trillion. MMFs fell $11.0 billion the previous week, and they fell by a massive $175.8 billion three weeks prior, the largest weekly drop ever. (The second largest drop ever was also tax related, $125.4 billion during the week ended April 16, 2025; the third largest was $121.3 billion the week of Sept. 17, 2008; and the fourth largest was $112.0 billion the week ended April 17, 2024.) Assets hit a record high $7.856 trillion seven weeks ago. MMFs have risen in 24 of the last 33 weeks and 32 of the past 42 weeks. MMF assets are up by $803 billion, or 11.6%, over the past 52 weeks (through 5/6/26), with Institutional MMFs up $591 billion, or 14.5% and Retail MMFs up $212 billion, or 7.4%. Year-to-date in 2026, MMF assets are up by $16 billion, or 0.2%, with Institutional MMFs up $9 billion, or 0.2% and Retail MMFs up $7 billion, or 0.2%. ICI's weekly release says, "Total money market fund assets increased by $122.35 billion to $7.75 trillion for the week ended Wednesday, May 6, the Investment Company Institute reported.... Among taxable money market funds, government funds increased by $109.20 billion and prime funds increased by $9.02 billion. Tax-exempt money market funds increased by $4.13 billion." ICI's stats show Institutional MMFs increasing $103.3 billion and Retail MMFs increasing $19.1 billion in the latest week. Total Government MMF assets, including Treasury funds, were $6.370 trillion (82.2% of all money funds), while Total Prime MMFs were $1.230 trillion (15.9%). Tax Exempt MMFs totaled $148.8 billion (1.9%). It explains, "Assets of retail money market funds increased by $19.09 billion to $3.08 trillion. Among retail funds, government money market fund assets increased by $13.60 billion to $1.96 trillion, prime money market fund assets increased by $2.18 billion to $987.12 billion, and tax-exempt fund assets increased by $3.31 billion to $135.49 billion." Retail assets account for 39.8% of the total, and Government Retail assets make up 63.6% of all Retail MMFs. They add, "Assets of institutional money market funds increased by $103.26 billion to $4.66 trillion. Among institutional funds, government money market fund assets increased by $95.60 billion to $4.41 trillion, prime money market fund assets increased by $6.84 billion to $242.73 billion, and tax-exempt fund assets increased by $818 million to $13.34 billion." Institutional assets accounted for 60.2% of all MMF assets, with Government Institutional assets making up 94.5% of all institutional MMF totals. According to Crane Data's separate Money Fund Intelligence Daily series, money fund assets have increased by $90.7 billion to $8.174 trillion month-to-date in May (as of 5/6), assets hit a record high on March 18 of $8.280 trillion. (Our asset series previous record high, $8.276 trillion, was set on 3/17/26.) Assets 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 in July, $6.7 billion in June and $100.9 billion last May. 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.
