ICI's latest monthly "Trends in Mutual Fund Investing - August 2026" and "Month-End Portfolio Holdings of Taxable Money Funds" show money fund totals increasing $71.3 billion, or 0.9%, in August to $7.928 trillion. MMFs increased by $711.8 billion, or 9.9%, over the past 12 months (through 8/31/26). Money funds' August asset increase follows a decrease of $43.7 billion in July, an increase of $75.9 billion in June, $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 $35.0 billion to $5.717 trillion in August 2026. (Note: Thanks once more to those of you who attended our European Money Fund Symposium in Paris last week! Mark your calendars for next year's show in London, Sept. 23-24, 2027!)
The monthly release states, "The combined assets of the nation's mutual funds increased by $445.66 billion, or 1.4 percent, to $33.29 trillion in August, 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 $17.46 billion in August, compared with an inflow of $14.85 billion in July.... Money market funds had an inflow of $55.48 billion in August, compared with an outflow of $57.36 billion in July. In August, funds offered primarily to institutions had an inflow of $37.31 billion and funds offered primarily to individuals had an inflow of $18.17 billion."
The Institute's latest statistics show that Taxable MMFs were higher while Tax Exempt MMFs were lower from last month. Taxable MMFs increased by $71.5 billion in August to $7.779 trillion. Tax-Exempt MMFs decreased $0.3 billion to $149.4 billion. Taxable MMF assets increased year-over-year by $698.6 billion (9.9%), and Tax-Exempt funds rose by $13.1 billion over the past year (9.6%). Bond fund assets increased by $35.0 billion (after decreasing by $45.6 billion in July) to $5.717 trillion; they've increased by $389.3 billion (7.3%) over the past year.
Money funds represent 23.8% of all mutual fund assets (down 0.1% from the previous month), while bond funds account for 17.2%, according to ICI. The total number of money market funds was 268, unchanged 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 jump in Treasuries and a drop in Repo last month. Treasury holdings remain the largest composition segment. In August, they increased $245.1 billion, or 7.6%, to $3.478 trillion, or 44.7% of holdings. Treasury securities have increased by $501.6 billion, or 16.8%, over the past 12 months. (See our September 11 News, "Sept. MF Portfolio Holdings: Assets Jump; Treasuries Surge, Repo Falls.")
Repurchase Agreements, the second largest composition segment, decreased $98.9 billion, or -3.6%, to $2.668 trillion, or 34.3% of holdings. Repo holdings have increased $92.5 billion, or 3.6%, over the past year. U.S. Government Agency securities were the third largest segment; they decreased $30.3 billion, or -2.7%, to $1.076 trillion, or 13.8% of holdings. Agency holdings have increased by $187.6 billion, or 21.1%, over the past 12 months.
Commercial Paper holdings were in fourth place; CP holdings increased by $18.4 billion, or 6.5%, to $302.3 billion (3.9% of assets). CP held by money funds fell by $7.9 billion, or -2.6%, over 12 months. Certificates of Deposit (CDs) were in fifth place, down $11.0 billion, or -3.9%, to $274.7 billion (3.5% of assets). CDs decreased $32.9 billion, or -10.7%, over one year. Other holdings decreased to $24.6 billion (0.3% of assets), while Notes (including Corporate and Bank) decreased to $36.9 billion (0.5% of assets).
The Number of Accounts Outstanding in ICI's series for taxable money funds increased to 90.742 million, while the Number of Funds was unchanged at 229. Over the past 12 months, the number of accounts rose by 9.357 million and the number of funds increased by 8. The Average Maturity of Portfolios was 38 days, down 2 days from July. Over the past 12 months, WAMs of Taxable money funds are down 3 days.
In related news, Crane Data published its latest Weekly Money Fund Portfolio Holdings statistics Tuesday, which track a shifting subset of our monthly Portfolio Holdings collection. The most recent cut (with data as of Sept. 25) includes Holdings information from 63 money funds (up 8 from a week ago), or $3.869 trillion (up from $3.692 trillion) of the $8.326 trillion in total money fund assets (or 46.5%) tracked by Crane Data. (Note: Our Weekly MFPH are e-mail only and aren't available on the website. See our latest Monthly Money Fund Portfolio Holdings here and our Sept. 11 News, "Sept. MF Portfolio Holdings: Assets Jump; Treasuries Surge, Repo Falls.")
Our latest Weekly MFPH Composition summary shows Government assets dominating the holdings list with Treasuries totaling $1.772 trillion (up from $1.758 trillion a week ago), or 45.8%; Repurchase Agreements (Repo) totaling $1.307 trillion (up from $1.258 trillion a week ago), or 33.8%, and Government Agency securities totaling $410.4 billion (down from $415.6 billion a week ago), or 10.6%. Commercial Paper (CP) totaled $170.7 billion (up from $118.8 billion a week ago), or 4.4%. Certificates of Deposit (CDs) totaled $93.5 billion (up from $49.5 billion a week ago), or 2.4%. The Other category accounted for $66.3 billion or 1.7%, while VRDNs accounted for $49.3 billion or 1.3%.
The Ten Largest Issuers in our Weekly Holdings product include: the US Treasury with $1.772 trillion, Fixed Income Clearing Corp with $317.6B, the Federal Home Loan Bank with $272.2B, JP Morgan with $150.9B, Citi with $123.1B, BNP Paribas with $100.5B, Wells Fargo with $91.2B, Federal Farm Credit Bank with $82.6B, RBC with $74.6B and Goldman Sachs with $64.4B.
The Ten Largest Funds tracked in our latest Weekly include: JPMorgan 100% US Trs MM ($349.5B), JPMorgan US Govt MM ($342.6B), Goldman Sachs FS Govt ($272.8B), Morgan Stanley Inst Liq Govt ($201.7B), State Street Inst US Govt ($194.6B), BlackRock Lq Treas Tr ($190.7B), BlackRock Lq FedFund ($186.6B), Federated Hermes Govt ObI ($166.7B), Dreyfus Govt Cash Mgmt ($163.1B) and First American Govt Oblg ($128.6B). (Let us know if you'd like to see our latest domestic U.S. and/or "offshore" Weekly Portfolio Holdings collection and summary.)
