Money Market Fund Assets Reach New Record High
For the week ended September 2, money market fund assets increased by $44.75 billion to reach a record high of $7.98 trillion, according to the Investment Company Institute (ICI). This growth was driven primarily by taxable government and prime funds, with tax-exempt funds also showing an increase. Government money market funds saw the largest rise at $38.80 billion in new assets, while prime funds added $4.92 billion. Retail and institutional segments both experienced gains across all categories of money market funds. The ICI provides these weekly updates to the Federal Reserve as part of its reporting obligations. The continued growth reflects strong investor demand for short-term, low-risk investment vehicles amid current economic conditions.
Topics: fund flows money market assets