Assets under management in US money market funds increased by about $91 billion in the week to November 13, taking total assets above $7 trillion for the first time, according to Crane data, a long-time money market fund researcher, a milestone for an industry whose popularity among investors has skyrocketed thanks to high and reliable yields. The $7 trillion mark followed months of record highs, refuting questions about the industry's continued popularity as Federal Reserve officials cut interest rates from 20-year highs. After US policymakers cut interest rates by 50 basis points in September and another 25 basis points this month, investors continued to flock to money market funds, largely because they offer higher yields than other instruments, particularly bank deposits, which tend to be slower than banks to pass on the effects of low rates.