| Morgan Stanley Inst Liq Prime MMP Inst (MPFXX) | 3.95 |
| BlackRock Lq TempCash Inst (TMCXX) | 3.95 |
| Federated Hermes Inst Prime Obligs IS (POIXX) | 3.94 |
| JPMorgan Prime MM Capital (CJPXX) | 3.94 |
| Western Asset Prem Inst Liq Res Capital (WAAXX) | 3.90 |
| Morgan Stanley IL Liq MMP Wealth (MWMXX) | 3.96 |
| Invesco Premier Institutional (IPPXX) | 3.95 |
| Goldman Sachs Investor MM Inst (FMJXX) | 3.94 |
| JPMorgan Liquid Assets Capit (CJLXX) | 3.93 |
| Allspring MMF Prm (WMPXX) | 3.93 |
| Goldman Sachs Inv Tax-Ex MMF In (FTXXX) | 2.49 |
| JPMorgan Tax Free MM Instit (JTFXX) | 2.25 |
| Allspring Nat T-F Prem (WFNXX) | 2.23 |
| Federated Hermes Muni Oblig WS (MOFXX) | 2.22 |
| Fidelity Inv MM: Tax Exempt I (FTCXX) | 2.18 |
Money Market News
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Money fund yields (7-day, annualized, simple, net) rose by 2 bps to 3.75% on average during the week ended Friday, October 30 (as measured by our Crane 100 Money Fund Index), after increasing 2 bps a week ago. Money fund yields have moved higher over the past 5 weeks as they've digested the Federal Reserve's Sept. 16, 25 basis point rate increase. Fund yields should be flat or inch higher in coming days as they absorb the last remnants of the Fed's hike (and prepare for the next one). Yields were 3.75% on 10/30/26, 3.67% on 9/30, 3.51% on 8/31, 3.49% on 7/31, 3.47% on 6/30 and on 3/31, 3.58% on 12/31/25, 4.13% on 6/30/25 and 4.28% on average on 12/31/24. MMFs averaged 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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Nov 03
Raymond James, Ameriprise Earnings
Last week, both Raymond James (RJF) and Ameriprise Financial (AMP) released Q3 earnings, and both briefly mentioned cash and money markets. CFO `Jonathan Oorlong of Raymond James comments, "Clients' domestic cash sweep and Enhanced Savings Program balances ended the quarter at $58 billion, up 3% over the year ago quarter and down 1% from the preceding quarter. Our client deposit balance mix continues to highlight our diverse funding sources through both the sweep program and the Enhanced Savings Program through Raymond James Bank as well as TriState Capital's deposit gathering capabilities. Additionally, a portion of the sweep balances held off balance sheet with third-party banks, which totaled over $16 billion at quarter end, is immediately available to fund future loan growth as client demand warrants." He says, "Combined net interest income and RJBDP fees from third-party banks were $674 million, up $16 million or 2% from the prior quarter. Fee revenues earned on RJBDP balances with third-party banks increased $12 million as a result of both an increase in average balances swept to third-party banks in the quarter as well as a 6 basis point increase in the yield on such balances to 2.81%. Firm net interest income increased year-over-year and sequentially as higher interest income driven primarily by higher bank segment interest-earning assets more than offset higher interest expense." `Ameriprise CFO Walter Berman tells us, "Turning to cash, our total client cash of $81 billion was down 5% year-over-year, primarily from third-party money market funds as well …
People
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Oct 08
R.I.P. J.P. Morgan's Dan Singer
J.P. Morgan Euro CP Trader Dan Singer passed away suddenly recently. Our deepest condolences go out to his family and colleagues. He will be missed. (See a statement here and news brief here.)
Sep 30
Tom Chang Joins Invesco Liquidity
Tom Chang is now a Managing Director in the Financial Institution's Group with Invesco Global Liquidity. He was formerly with Allspring.
Sep 16
Teresa Ho Moves to Fidelity
Teresa Ho left J.P. Morgan Securities to start a new position as `US Macro Strategist at Fidelity Investments. We wish Teresa luck!
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.