The top winners from investors flooding cash into US money market funds in the past two weeks are Goldman Sachs, JPMorgan Chase, and Fidelity, according to the figures. Goldman Sachs' money funds have received $52 billion, a 13% growth, while JPMorgan's funds poured almost $46 billion and Fidelity saw inflows of nearly $37 billion, says the FT. The volume of inflows is the biggest for a month since the emergence of the Covid-19 outbreaks.
A money market fund commonly offers high liquidity and low risk, which makes them a popular option for investors during uncertain times. Currently, these funds are offering its best yields in years as the U.S. Federal Reserve keeps raising interest rates to curb inflation.Over a period of seven days ending on March 22, the total money market fund assetsby $117.42 billion to $5.13 trillion, according to a report from the Investment Company Institute.
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