According to the Investment Company Institute, as of May 20, $3.9 trillion is in government MMFs (1.2 in Treasury & Repo, 2.7 in Treasury & Agency), $742 billion in prime MMFs, and $135 billion in tax-exempt (municipal) MMFs.
Chart based on ICI data (Note that OFR's numbers are slightly higher, for a total of over $5 trillion. Not sure what accounts for the discrepancy, but OFR shows retail funds which at least accounts for a good deal of the difference in size of prime funds):
Sources:
FSOC's Office of Financial Research: https://www.financialresearch.gov/money-market-funds/us-mmfs-investments-by-fund-category/
ICI: https://ici.org/research/stats/mmf
Crane Data: https://cranedata.com/ (top 10 money fund managers as of April 30: Fidelity $959 bn, JPMorgan $480 bn, Vanguard $473 bn, BlackRock $447 bn, Federated $396 bn, Goldman Sachs $383 bn, Morgan Stanley $227 bn, Schwab $210 bn, Dreyfus $210 bn, Wells Fargo $187 bn)
EPFR: https://www.epfrglobal.com/
Note- the shift from prime funds to government funds in 2016 is due to the SEC's MMF reforms mentioned in yesterday's post.
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