Money-Market Fund Assets Reach $6 Trillion for First Time
- Assets jumped by $41.7 billion in week through Jan. 31: ICI
- Investors returned to money markets in run-up to Fed decision
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Assets held by money-market funds surpassed $6 trillion for the first time as elevated short-term rates and market volatility drove investors back to cash in the run-up to the latest Federal Reserve decision.
About $41.7 billion flowed into US money-market funds in the week through Jan. 31, according to Investment Company Institute data. Total assets rose to $6 trillion from $5.96 trillion the week prior.