Professional investors keep loading up on cash
Institutional investors revived their flight to safety last week, pushing inflows to money market funds to all-time-high levels, largely unaccompanied by retail investors.
What it means: Money market funds saw inflows of $108.70 billion for the week ending April 22, almost all of which came from professionals who added $108.26 billion.
- For institutional investors, it was the fifth highest weekly total ever recorded.
- Four of the five largest weekly inflows by institutional investors to money market funds have come since March 18, data from the Investment Company Institute show.
- Retail investors have held firm, as not a single week in April has registered in the top 40 highest weekly inflows.
The big picture: A record $4.65 trillion is now held in money market funds. That's around $700 billion more than the peak level seen during the 2007–2009 global financial crisis.
- Further, the share of that total held by professional money managers has increased to 67%.