We are proud to partner with the Association for Financial Professionals (AFP) to sponsor the 2026 AFP Liquidity Survey for the seventh year in a row.
Money market funds remain a critical asset class among institutional investors, and we expect that to continue.
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The global economy has faced increased uncertainty due to changing trade policies, geopolitical tensions, and rising oil prices. Inflation rose to 3.3% in March 2026, while interest rates have held steady and the labor market remains tight. In response, organizations are taking a more cautious approach to liquidity- holding more cash, managing working capital closely and adjusting investment strategies to navigate volatility.
(Percentage Distribution of Organizations)
|
|
Much Larger |
Somewhat Larger |
No Significant Change |
Somewhat Smaller |
Much Smaller |
|---|---|---|---|---|---|---|
Within the U.S. |
309 |
16% |
30% |
40% |
9% |
5% |
Outside the U.S. |
226 |
3% |
17% |
62% |
13% |
5% |
|
Much Larger |
Somewhat Larger |
No Significant Change |
Somewhat Smaller |
Much Smaller |
|---|---|---|---|---|---|
Within the U.S. |
15% |
23% |
46% |
13% |
3% |
Outside the U.S. |
4% |
16% |
65% |
10% |
5% |
Overall, the survey suggests a cautious approach to cash management, with organizations balancing safety and liquidity while navigating economic uncertainties.
We are proud to partner with the Association of Financial Professionals (AFP) to sponsor the 2026 AFP Liquidity Survey, marking the seventh year Invesco has sponsored this industry-leading research.
Important information
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The 2025 AFP Liquidity Survey was reprinted with permission from Association for Financial Professionals (AFP). While Invesco believes the information presented in this article to be reliable and current, Invesco was not involved in writing the article and cannot guarantee its accuracy. Further circulation, disclosure, or dissemination of all or any part of this material is prohibited. This article is provided for educational & informational purposes only and is not an offer of investment advice or financial products. Invesco is not affiliated with Association for Financial Professionals (AFP).
Survey participants’ experience may not be representative of others, nor does it guarantee the future performance or success of any product. The opinions expressed are those of the Association for Financial Professionals (AFP) and are based on current market conditions and are subject to change without notice. These opinions may differ from those of other Invesco investment professionals. There may be material differences in the investment goals and objectives, costs and expenses, liquidity, safety, guarantees or insurance, fluctuation of principal or return, tax features, and investment horizons of investors.
A total of 309 responses were submitted by corporate practitioner members and prospects holding senior-level and practitioner titles, including Vice President of Treasury Management, Treasurer, Director of Treasury, Director of Cash Management, Assistant Treasurer, Manager of Treasury, Cash Manager, Senior Treasury Analyst, and Treasury Analyst. These responses form the basis of this report.
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