| JPMorgan Prime MM Capital (CJPXX) | 3.69 |
| Morgan Stanley Inst Liq Prime MMP Inst (MPFXX) | 3.67 |
| Federated Hermes Inst Prime Obligs IS (POIXX) | 3.67 |
| BlackRock Lq TempCash Inst (TMCXX) | 3.66 |
| Western Asset Prem Inst Liq Res Capital (WAAXX) | 3.61 |
| Morgan Stanley IL Liq MMP Wealth (MWMXX) | 3.71 |
| Invesco Premier Institutional (IPPXX) | 3.68 |
| JPMorgan Liquid Assets Capit (CJLXX) | 3.67 |
| Allspring MMF Prm (WMPXX) | 3.67 |
| Federated Hermes Prime Cash Oblig WS (PCOXX) | 3.63 |
| Federated Hermes Inst Tax-Fr Cash Tr Pr (FTFXX) | 2.84 |
| JPMorgan Inst Tax Free MM Capital (JOCXX) | 2.81 |
| Western Asset Select Tax Free Res Sel (CIFXX) | 2.81 |
| Vanguard Municipal MMF (VMSXX) | 2.77 |
| Allspring Nat T-F Prem (WFNXX) | 2.73 |
Money Market News
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Money fund yields (7-day, annualized, simple, net) were up 1 bp at 3.47% on average during the week ended Friday, April 17 (as measured by our Crane 100 Money Fund Index), after decreasing 1 bp the week prior. Fund yields haven't been below 3.5% since November 2022, and they are down from a recent high of 5.20% in November 2023. They should remain flat in coming days (and weeks) since the Fed left short-term rates unchanged five weeks ago. Yields were 3.58% on 12/31/25, 3.78% on 11/30, 3.90% on 10/31, 3.94% on 9/30, 4.11% on 8/31, 4.12% on 7/31, 4.13% on 6/30, 4.14% on 3/31/25 and 4.28% on average on 12/31/24. MMFs averaged 4.75% on 9/30/24, 5.10% on 6/28/24, 5.14% on 3/31/24 and 5.20% on 12/31/23.
Inside Money Fund Intelligence
MFI PDF February 2022 Issue |
Largest Money Fund Managers |
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 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 info@cranedata.com 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). 
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About Crane Data LLC
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 info@cranedata.com or call us at 1-508-439-4419.
Link of the Day
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Apr 21
Barron's on Schwab AI Sweeps Worries
Late last week, Barron's wrote, "Schwab Investors Get Spooked by JPMorgan’s AI Strategy. The Big Worry Is Cash Sweeps." The article tells us, "On Charles Schwab's Thursday earnings call, CEO Rick Wurster talked at length about how artificial intelligence can improve efficiency and boost growth. Investors, however, were more focused on AI's potential to disrupt Schwab's reliance on low-yielding sweep cash for a significant chunk of its revenue. Shares of Schwab fell 7.6% on Thursday as investors weighed Schwab's strong first-quarter earnings report against news that JPMorgan Chase was developing an AI cash management tool, which raised the specter of new competitive pressures on clients' cash holdings. Other wealth management stocks also tumbled on Thursday. For example, Raymond James Financial's stock dropped 3.2%. LPL Financial fell 5.7%." It explains, "The latest catalyst for a wealth stock selloff appears to have come from JPMorgan CEO Jamie Dimon's annual letter to shareholders in which he said that the bank plans to introduce an AI-enabled tool to help clients automatically move money between their checking accounts and high-yielding brokerage products. 'Eventually, AI will allow clients to predict cash flow needs and anticipate upcoming bills, doing their budgeting for them,' he wrote.... Analysts suggest investors are concerned that such AI tools may pressure sweep cash programs at brokerage firms, which move or 'sweep' customers' idle dollars into low-paying bank accounts. The practice helps firms generate net interest income, which is the difference between what they pay customers in interest on their deposits and what the firms earn …
People
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Apr 06
Ryan Joins Barclays; Collins Leaves
Cory Ryan joined Barclays to head NY Sales. He was previously with Jefferies. Meanwhile London-based Steve Collins is no longer with Barclays.
Mar 03
Cloherty Joins CIBC
Mike Cloherty has joined CIBC as Head of US Rates Strategy. He was previously with UBS.
Dec 09
Thrivent Seeks Portfolio Manager
Thrivent is seeking a Senior Money Market Portfolio Manager in Minneapolis. The posting says, "The Money Market Portfolio Manager is responsible for the management of the organization’s 2(a)7 mutual funds and the overall management of the organization’s cash holdings across multiple accounts and portfolios."
Crane Data News & Features
contact us »Bond Fund Symposium Going to Calif.
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.