US Money-Market Fund Assets Surpass $7 Trillion for First Time
- Total rose by about $91 billion in week through Nov. 13: Crane
- Investors continue to pile into funds even after Fed rate cuts
So far this year, more than $700 billion has flooded into the funds.
Photographer: Aamir Qureshi/AFP/Getty ImagesThis article is for subscribers only.
US money-market funds now have more than $7 trillion in assets under management, a milestone for an industry that’s skyrocketed in popularity among investors thanks to lofty and dependable yields.
The total rose by roughly $91 billion in the week through Wednesday, putting it at a fresh record, according to Crane Data, a money-market and mutual fund information firm.