We started rating Money Market funds this month. If for no other reason then to help track asset flows. Using similar reasoning, we also now include funds that are just one month old.
Lipper tracks 11 categories under the “Money Market” SubType (umbrella): Money Market, Money Market Instl, Money Market Tax-Exempt, Money Market Instl Tax-Exempt, Money Market U.S. Government, Money Market Instl U.S. Government, Money Market U.S., Treasury, Money Market Instl U.S. Treasury, Money Market California Tax-Exempt, Money Market New York Tax-Exempt, and Money Market Other States Tax-Exempt.
So, we now rate all US funds in Lipper database, which reflects 155 fund categories.
A quick breakout for month ending June …
• No. of Funds (All Share Classes): 29,322
• No. of Funds (Oldest Share Class): 9,841
• No. of Funds (Oldest Share Class) by SubType:
• No. of ETFs: 2,000
• No. of Fund of Funds: 1,266
• No. of ETF Fund of Funds: 110
• Assets Under Management ($B): 20,227
• Assets Under Management ($B), excluding Fund of Funds: 18,694
• Assets Under Management ($B) by SubType:
Fidelity manages the largest Money Market AUM by far with $457B, then JP Morgan $249B, Vanguard $213B, and Blackrock $201B.