BREAKING: US money market fund assets are up to a record $8.24 trillion, a +58% surge since December 2022. During this period, the top 5 managers, Fidelity, JPMorgan, Charles Schwab, Vanguard, and BlackRock, drove ~69% of total asset growth, with combined assets now at $4.76 trillion. Their collective market share has risen +14 percentage points to ~58% since 2011. Overall, total money market fund assets have grown +$5 trillion since 2019, or at a +13.7% compounded annual growth rate (CAGR). Demand for safe-haven investments remains historically high.(The Kobeissi Letter)