| JPMorgan Prime MM Capital (CJPXX) | 3.70 |
| Morgan Stanley Inst Liq Prime MMP Inst (MPFXX) | 3.70 |
| Federated Hermes Inst Prime Obligs IS (POIXX) | 3.69 |
| BlackRock Lq TempCash Inst (TMCXX) | 3.67 |
| Western Asset Prem Inst Liq Res Capital (WAAXX) | 3.62 |
| Morgan Stanley IL Liq MMP Wealth (MWMXX) | 3.73 |
| Invesco Premier Institutional (IPPXX) | 3.70 |
| Allspring MMF Prm (WMPXX) | 3.69 |
| JPMorgan Liquid Assets Capit (CJLXX) | 3.68 |
| Federated Hermes Prime Cash Oblig WS (PCOXX) | 3.66 |
| Vanguard Municipal MMF (VMSXX) | 2.40 |
| Allspring Nat Tax-Free Prem (WFNXX) | 2.40 |
| Federated Hermes Tax-Free Oblig WS (TBIXX) | 2.39 |
| JPMorgan Municipal MM Instit (IJMXX) | 2.39 |
| Schwab Municipal MF Ultra (SWOXX) | 2.34 |
Money Market News
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The Bank of England published a paper titled, "A simulation framework for sterling money market funds: estimating redemption capacity and evaluating liquidity requirements." The staff paper's summary says, "Money market funds (MMFs) aim to provide near-on-demand liquidity yet often hold assets that become hard to sell under stress, leaving them vulnerable to run-like redemptions. I build a simulation framework for sterling MMFs to estimate redemption capacity and failure probability across alternative redemption profiles and market-liquidity scenarios. Resilience of funds depends on both the timing of outflows and the effective liquidity of weekly liquid assets (WLA): front-loaded redemptions are most destabilising, and the benefit of asset sales shrinks as market depth thins. Removing the 30% WLA threshold effect – under which managers must consider measures to deter further redemptions – yields sizeable resilience gains by reducing cliff-edge behaviour. Under historically extreme shocks and without threshold effects, most resilience improvements come from holding WLA above the 30% regulatory minimum; in my simulations, gains concentrate around 40% WLA, with diminishing returns beyond."
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 02
Bloomberg Says Firms Build Buffers
Bloomberg recently published two news pieces involving money market funds. The first, "Funding Markets Show Dash for Cash as Firms Build Buffers," tells us, "Recent activity in funding markets shows a quiet push by financial institutions to build up buffers that would help protect against any credit …
People
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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."
Dec 03
Deutsche Hires Cassie von Sprecher
"Deutsche Hires von Sprecher" says a brief in the Securities Finance Times. It explains, "Deutsche Bank has appointed Cassandra von Sprecher as global head of agency securities lending sales." She was formerly with State Street and formerly Casandra (Cassie) Jones.
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.