📈 U.S. Money Market Fund Assets Surge to $7.3 Trillion with Growing Dominance of Top Managers

U.S. Money Market Fund (MMF) assets soared by 39%, climbing from $5.2 trillion in December 2022 to $7.3 trillion in December 2024. The concentration of assets among the top seven managers increased significantly, with their combined market share rising from a 57% average (2011–2015) to 70% by the end of 2024. Leading the growth were Fidelity (25%), J.P. Morgan (17%), Schwab (15%), and Vanguard (9%), which collectively accounted for the majority of the expansion over this two-year period.