The March of Money Funds
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Monday, April 06, 2020

The March of Money Funds

Last month was huge for money funds, especially government ones.

Peter G. Crane
Crane Data LLC
A record $625 billion of net inflows went into money-market mutual funds in March amid the ongoing coronavirus crisis and investors' search for safetey, InvestmentNews reports, citing figures from Crane Data. That included more than $790 billion in net inflows into government money funds and a $160-billion drop in prime money funds' combined AUM. Government money funds now hold about $3.5 trillion, while prime money funds hold $936 billion.

"You've seen the craziest run-up in money-fund assets we've ever seen," Pete Crane, president of his eponymous data shop, told InvestmentNews.

Crane notes that, given the low yields, he expects money funds to start waiving fees again, like in the low-interest years following the financial crisis.

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