Western Asset Prem Inst Liq Res Cap (WAAXX) | 5.46 |
DWS ESG Liquidity Inst (ESGXX) | 5.42 |
State Street Inst Liq Reserve Prem (SSIXX) | 5.41 |
Allspring Heritage Select (WFJXX) | 5.40 |
Federated Hermes Inst MM Mgmt IS (MMPXX) | 5.39 |
Allspring MMF Prm (WMPXX) | 5.39 |
Morgan Stanley IL Liq MMP Wealth (MWMXX) | 5.37 |
First American Ret Prime Obligs X (FXRXX) | 5.37 |
Invesco Premier Investor (IMRXX) | 5.37 |
UBS Prime Preferred Fund (UPPXX) | 5.37 |
Federated Hermes Muni Obligs WS (MOFXX) | 3.54 |
Allspring Nat T-F Prem (WFNXX) | 3.36 |
Vanguard Municipal MMF (VMSXX) | 3.31 |
Fidelity Inv MM: Tax Exempt I (FTCXX) | 3.30 |
Dreyfus National Muni MMF Prem (DMHXX) | 3.26 |
The Investment Company Institute, the trade group for the mutual fund industry, published its latest weekly "Money Market Fund Assets" report and its latest monthly "Trends in Mutual Fund Investing" and "Month-End Portfolio Holdings of Taxable Money Funds" for February 2024 on Thursday. The former shows money market mutual fund assets inching lower to $6.041 trillion in the latest week after a big decline the previous week, which included the March 15 quarterly corporate tax date. MMF assets are up by $154 billion, or 3.3%, year-to-date in 2024 (through 3/27/24), with Institutional MMFs up $41 billion, or 1.3% and Retail MMFs up $114 billion, or 6.8%. Over the past 52 weeks, money funds have risen a massive $843 billion, or 16.2%, with Retail MMFs rising by $530 billion (28.3%) and Inst MMFs rising by $312 billion (9.4%).
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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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.
A Prospectus Supplement filing for the $1.2 billion Federated Hermes Money Market Obligations Trust, including the Institutional Shares (MMPXX), Capital Shares (MMLXX) and Eagle Shares (MMMXX), tells us, "On February 15, 2024, the Board of Trustees of Federated Hermes Money Market Obligations Trust approved a Plan of Liquidation for the Federated Hermes Institutional Money Market Management pursuant to which the Fund will be liquidated on or about July 12, 2024.... In approving the Liquidation, the Board determined the Liquidation is in the best interests of the Fund and its shareholders. Accordingly, the Fund's investment adviser will take all action necessary to liquidate, dissolve, and wind up the affairs of the Fund. The Fund may not follow its investment objective and strategies as it moves toward more liquid securities and/or cash in preparation for the Liquidation. It is anticipated that the Fund's portfolio will be converted into cash or cash equivalents on or prior to the Liquidation Date." It explains, "Effective on or about June 14, 2024, the Fund will be closed to new accounts and new investments (excluding reinvestments of dividends). Any shares outstanding at the close of business on the Liquidation Date will be automatically redeemed. Such redemptions shall follow the procedures set forth in the Plan. Capital gains, if any, will be distributed to shareholders prior to the Liquidation. Final dividends, if any, will be distributed with the Liquidation proceeds. At any time prior to the Liquidation Date, the shareholders of the Fund may redeem their shares of the Fund pursuant to the procedures set forth in the Fund's Prospectus. Exchanges between the Fund and another Federated Hermes fund …
A release titled, "GLMX Promotes Giglio and Wiblin as Expansion Continues" says, "GLMX, a comprehensive global technology solution for trading Money Market instruments, including repurchase agreements, ... announced [that] Sal Giglio, previously COO and Chief Markets Officer, has been promoted to President and Chief Revenue Officer. Andy Wiblin, previously Chief Product Officer, has been promoted to Global Chief Operating Officer."
Jason Straker is now a VP & Senior Sales Representative with Federated Hermes. He was previously with Western Asset.
State Street Global Advisors is seeking a Senior Portfolio Manager and Trader. 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.