Investors contributed $70.29 billion to money market funds in the week ended Tuesday, according to
“Money just keeps flowing in,” said Mike Krasner, editor of the report.
Of the flows, $60.15 billion came from institutional investors and $10.14 billion from retail investors.
As a result, total net assets in money market funds now stands at a record $2.65 trillion. Of that, $2.234 trillion is in taxable funds, which are now offering a seven-day simple yield of 4.76%, up from 4.73%. The seven-day compound yield is 4.87%, up from 4.84%.
“It’s a fairly competitive return,” Krasner said. “Folks seem to be happy with them, and especially with the stock market spiraling, it’s a place to take a little time out, park some cash, get your 5%-plus plus return, sit on the sidelines and see what happens.”
