|JPMorgan Prime MM Capital (CJPXX)||4.79|
|Western Asset Prem Inst Liq Res Cap (WAAXX)||4.79|
|DWS ESG Liquidity Inst (ESGXX)||4.73|
|Morgan Stanley Inst Liq Prime MMP Inst (MPFXX)||4.71|
|Allspring Heritage Select (WFJXX)||4.71|
|JPMorgan Liquid Assets Cap (CJLXX)||4.71|
|Allspring MMF Prm (WMPXX)||4.69|
|Morgan Stanley IL ESG MMP W (MWMXX)||4.68|
|UBS Prime Preferred Fund (UPPXX)||4.66|
|Schwab Value Adv MF Ultra (SNAXX)||4.63|
|Federated Hermes Muni Obligs WS (MOFXX)||2.44|
|Allspring Muni Cash Mg MM Inst (EMMXX)||2.33|
|Schwab Municipal MF Ultra (SWOXX)||2.25|
|Fidelity Inv MM: Tax Exempt I (FTCXX)||2.19|
|Vanguard Municipal MMF (VMSXX)||2.16|
The Securities and Exchange Commission's latest monthly "Money Market Fund Statistics" summary shows that total money fund assets increased by $52.1 billion in February to an all-time high of $5.340 trillion. Assets at February month-end were above their previous $5.29 trillion January 2023 record. The SEC shows that Prime MMFs increased by $35.4 billion in February to $1.173 trillion, Govt & Treasury funds increased $16.1 billion to $4.048 trillion and Tax Exempt funds increased $0.6 billion to $119.8 billion. Taxable yields jumped again in February after surging in January. The SEC's Division of Investment Management summarizes monthly Form N-MFP data and includes asset totals and averages for yields, liquidity levels, WAMs, WALs, holdings, and other money market fund trends. We review their latest numbers below. (Month-to-date in March through 3/21, total MMF assets have skyrocketed by $242.0 billion to a record $5.494 trillion, according to our MFI Daily.) (Note: For `those attending this week's Bond Fund Symposium, welcome to Boston! Attendees and subscribers may access the materials in our "Bond Fund Symposium 2023 Download Center.")
MFI PDF February 2022 Issue
Largest Money Fund Managers
The February 2022 issue of Money Fund Intelligence features: "Fee Waivers Poised to Shrink, MMF Revenue Ready to Jump," which discusses recent earnings calls and expectations for Fed hikes to remove waivers; "Money Fund University '22 Highlights: Supply, New Regs," which quotes from our latest basic training conference; and, "Swing Pricing Main Focus in SEC's Money Fund Reforms," which covers articles explaining the SEC's controversial fee proposal.
Each monthly issue of Money Fund Intelligence features news, performance information and rankings on money market mutual funds. Statistics include: assets, weighted average maturity, weighted average life, expense ratio, 7-day yield, 30-day yield, 1-year, 3-yr, 5-yr, 10-yr, and since inception return, as well as 7- and 30-day gross yields. MFI also contains tables of the top-yielding and the largest money funds, and our benchmark Crane Money Fund Indexes.
Subscriptions are $500 a year, and include online access to archived issues and additional features. Bulk discounts and site licenses are available. Write firstname.lastname@example.org or call 1-508-439-4419 to subscribe or to request more information.
The table below is excerpted from our monthly spreadsheet product, Money Fund Intelligence XLS. It shows the largest money market mutual fund managers as of January 31, 2022. (MFI XLS contains percentile rankings, fund family rankings, MNAVs, WLA, portfolio composition, and more).
Crane Data is a money market and mutual fund information company founded by Peter G. Crane and Shaun Cutts. We collect money market mutual fund, bank savings, and cash investment performance, statistics, and information and distribute rankings, news, and indexes.
Crane Data publishes Money Fund Intelligence, Money Fund Intelligence XLS, Money Fund Wisdom, the Crane Money Fund Indexes, and a series of products tracking money markets, mutual funds and cash investments. We also produce conferences, including Crane's Money Fund Symposium. For more information and samples, e-mail email@example.com or call us at 1-508-439-4419.
The Fed's most release entitled, "Federal Reserve issues FOMC statement" tells us, "Recent indicators point to modest growth in spending and production. Job gains have picked up in recent months and are running at a robust pace; the unemployment rate has remained low. Inflation remains elevated. The U.S. banking system is sound and resilient. Recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring, and inflation. The extent of these effects is uncertain. The Committee remains highly attentive to inflation risks." It explains, "The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 4-3/4 to 5 percent. The Committee will closely monitor incoming information and assess the implications for monetary policy. The Committee anticipates that some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time. In determining the extent of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective." The Fed's statement adds, "In assessing the appropriate stance of monetary policy, the Committee …
Peter Yi, a pioneer of cash segmentation, is no longer with Northern Trust Asset Management.
Michael Morin, formerly at Fidelity, has formed MM Cash Consulting, and Zachary Green is no longer with AB (Alliance Bernstein).
Northern Trust Asset Management is seeking a Senior Associate Relationship Manager, Investments. Click here for details.
Please join us for our next live conference, Bond Fund Symposium, which will take place in person March 28-29, 2022 in Newport Beach, Calif. Bond Fund Symposium focuses on ultra-short bond funds and investing beyond money market funds. Also, mark your calendars for our next big show, Money Fund Symposium, which is scheduled for June 20-22, 2022 in Minneapolis, Minn., and for our next European Money Fund Symposium, which is scheduled for Sept. 27-28, 2022 in Paris, France. Finally, thanks to those who attended and supported our recent Money Fund University. We'll hold our next MFU on Dec. 15-16, 2022 in Boston, Mass. Watch for details in coming months. Let us know if you'd like more information on any of our shows, and we hope to see you back out on the road soon! Note that conference recordings and materials are available to conference attendees and Crane Data subscribers at the bottom of our "Content" page.