Money market mutual funds surged past $3T in December

Jan. 15, 2019 10:09 AM ETMINT, NEAR, RAVI, ULST, FTSD, ICSH, HOLD, FTSM, FMHIBy: Liz Kiesche, SA News Editor3 Comments
  • Money market mutual funds' assets climbed to $3.07T in December, their highest level since March 2010, largely driven by retail investors, CNBC reports.
  • About $183B flowed into money market funds since the end of Q3, with almost three-quarters of that to retail funds, according to the Investment Company Institute.
  • The increase in money market fund assets coincided with the late-2018 stock market slump that resulted in the S&P 500 losing 6.2% for the year.
  • With investors wary about stock market volatility, higher short-term interest rates are also making money market funds more attractive for those who want a short-term asset, says Sean Collins, chief economist at ICI.
  • Money market ETFs: MINT, NEAR, RAVI, FTSM, ICSH, HOLD, ULST, FTSD, FMHI

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