| Western Asset Prem Inst Liq Res Cap (WAAXX) | 5.36 |
| State Street Inst Liq Reserve Prem (SSIXX) | 5.36 |
| DWS ESG Liquidity Inst (ESGXX) | 5.34 |
| Federated Hermes Inst Prime Obligs IS (POIXX) | 5.32 |
| JPMorgan Prime MM Capit (CJPXX) | 5.32 |
| Invesco Premier Investor (IMRXX) | 5.37 |
| First American Ret Prime Obligs X (FXRXX) | 5.35 |
| UBS Prime Preferred Fund (UPPXX) | 5.34 |
| Federated Hermes Prime Cash Oblig WS (PCOXX) | 5.33 |
| Allspring MMF Prm (WMPXX) | 5.33 |
| Federated Hermes Muni Obligs WS (MOFXX) | 3.03 |
| Allspring Nat T-F Prem (WFNXX) | 2.96 |
| JPMorgan Municipal MM Inst (IJMXX) | 2.88 |
| Goldman Sachs Inv Tax-Ex MMF In (FTXXX) | 2.82 |
| Morgan Stanley Inst Liq T-E Wealth (TEWXX) | 2.80 |
Money Market News
MORE NEWS »
This week, we heard another batch of second-quarter earnings calls for brokerages, and the analyst questions keep pouring in over advisory sweeps, cash sorting and regulatory and legal pressure for some firms to pay higher rates. Ameriprise Financial CFO Walter Berman comments on their Q2 earnings call, "Total cash balances, including third-party money market funds and brokered CDs, were $81.9 billion, which was over 8% of clients' assets. Clients remain heavily concentrated in yield-oriented products, with highly liquid products like money market funds being more in favor than term products like certificates and brokered CDs. We are beginning to see clients put money back to work in wrap and other products on our platform, and we expect this to continue over time as markets and rates normalize, which creates a significant opportunity. Cash balances, excluding money market funds and brokered CDs, were $40.6 billion, driven by normal seasonal tax patterns and the transition of cash related to [the] Comerica partnership.... Underlying cash sweep was stable in the quarter as expected, and that trend continues in July. I want to provide some additional perspective on sweep cash. Our cash sweep is a transaction account for money in motion that is in between investments or for cash to pay fees, which is similar to a bank checking account. `Cash sweep is not meant to be an investment option for significant cash balances over extended periods. We have a broad range of higher-yielding products available for clients seeking to hold cash over extended periods, which is where a large portion of the excess cash has gone. As a result, our clients generally have very low cash …
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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Jul 26
ICI: Money Funds Lower on Week
The Investment Company Institute published its latest weekly "Money Market Fund Assets" report Thursday, which shows money market mutual fund lower to $6.142 trillion in the latest week after hitting a record early in July. Assets have risen in 11 of the last 14 weeks, increasing by $173.8 billion (or 2.9%) since April 24. MMF assets are up by $256 billion, or 5.4%, year-to-date in 2024 (through 7/24/24), with Institutional MMFs up $65 billion, or 2.1% and Retail MMFs up $191 billion, or 11.4%. Over the past 52 weeks, money funds have risen by $655 billion, or 11.9%, with Retail MMFs up by $448 billion (22.0%) and Inst MMFs rising by $208 billion (6.0%). The weekly release says, "Total money market fund assets decreased by $11.81 billion to $6.14 trillion for the week ended Wednesday, July 24, the Investment Company Institute reported.... Among taxable money market funds, government funds decreased by $7.73 billion and prime funds decreased by $2.86 billion. Tax-exempt money market funds decreased by $1.22 billion." ICI's stats show Institutional MMFs falling $8.1 billion and Retail MMFs falling $3.7 billion in the latest week. Total Government MMF assets, including Treasury funds, were $4.956 trillion (80.7% of all money …
People
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Jul 09
Sewell Elected Chair of IMMFA
Alastair Sewell of Aviva Investors was elected Chair of IMMFA, the London-based Institutional Money Market Funds Association, replacing Kim Hochfeld of SSGA. IMMFA is the "trade association representing the European money market fund industry," according to their website.
Jul 01
Kitchen Retiring from Cavanal Hill
Mike Kitchen, a Senior Vice President and Senior Money Market Portfolio Manager at Cavanal Hill Investment Management is retiring after over 25 years in the money fund industry. Cavanal Hill is affiliated with BOK Financial. We'd like to thank Mike for his service and wish him all the best in retirement!
Jun 11
RIP Dreyfus's Louis Geser
We just learned that Louis Geser passed away recently after a long battle with pancreatic cancer. Geser was Director of Short Duration Credit Research at Dreyfus and BNY Mellon during the mid-00's. Our condolences to his family and all who knew Lou. (See the Obituary here.)
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.