ICI: MMF Assets Down Again in July
After almost breaking the $8.0 trillion barrier three weeks prior, the Investment Company Institute's latest weekly "Money Market Fund Assets" report shows money fund assets falling $22.6 billion to $7.861 trillion. Assets plunged $59.7 billion the previous week (and decreased $4.8 billion the week before this). MMF assets are up by $786 billion, or 11.1%, over the past 52 weeks (through 7/22/26), with Institutional MMFs up $616 billion, or 14.8% and Retail MMFs up $170 billion, or 5.8%. Year-to-date in 2026, MMF assets are up by $127 billion, or 1.6%, with Institutional MMFs up $121 billion, or 2.6% and Retail MMFs up $6 billion, or 0.2%. ICI's weekly release says, "Total money market fund assets decreased by $22.57 billion to $7.86 trillion for the week ended Wednesday, July 22, the Investment Company Institute reported.... Among taxable money market funds, government funds decreased by $22.49 billion and prime funds decreased by $2.83 billion. Tax-exempt money market funds increased by $2.75 billion." ICI's stats show Institutional MMFs decreasing $22.2 billion and Retail MMFs decreasing $0.4 billion in the latest week. Total Government MMF assets, including Treasury funds, were $6.479 trillion (82.4% of all money funds), while Total Prime MMFs were $1.234 trillion (15.7%). Tax Exempt MMFs totaled $148.6 billion (1.9%). It explains, "Assets of retail money market funds decreased by $375 million to $3.08 trillion. Among retail funds, government money market fund assets decreased by $796 million to $1.96 trillion, prime money market fund assets decreased by $1.87 billion to $986.57 billion, and tax-exempt fund assets increased by $2.29 billion to $136.37 billion." Retail assets account for 39.2% of the total, and Government Retail assets make up 63.6% of all Retail MMFs. They add, "Assets of institutional money market funds decreased by $22.19 billion to $4.78 trillion. Among institutional funds, government money market fund assets decreased by $21.70 billion to $4.52 trillion, prime money market fund assets decreased by $957 million to $247.02 billion, and tax-exempt fund assets increased by $461 million to $12.22 billion." Institutional assets accounted for 60.8% of all MMF assets, with Government Institutional assets making up 94.6% of all institutional MMF totals. According to Crane Data's separate Money Fund Intelligence Daily series, money fund assets have decreased by $59.9 billion to $8.290 trillion month-to-date in July (as of 7/22), assets reached an all-time high of $8.404 trillion on July 6. Assets increased $58.6 billion in June, $208.6 billion in May, 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 last July. 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.
