A filing for Ramirez Government Money Market Fund (Retail Class, RMZXX and Institutional Class, RAMXX), states, "The Board of Trustees of Advisor Managed Portfolios, upon a recommendation from Ramirez Asset Management, Inc., the investment adviser to the Fund, has determined to close and liquidate the Fund immediately after the close of business on April 29, 2025. This decision was made due to the Fund's inability to obtain a level of assets necessary for it to be viable. Effective immediately, the Fund will no longer accept purchases of new shares. The Fund is closed to new purchases, whether from existing or new investors. The Fund will no longer pursue its stated investment objective and Fund assets will be managed to provide for sufficient liquidity prior to liquidation. On or promptly after the Liquidation Date, the Fund will make a liquidating distribution to its remaining shareholders equal to each shareholder's proportionate interest in the net assets of the Fund, in complete redemption and cancellation of the Fund's shares held by the shareholder, and the Fund will be dissolved."
It adds, "At any time prior to the Liquidation Date, shareholders may redeem their shares of the Fund. The Adviser will bear all expenses incurred in carrying out the liquidation process, except for transaction costs incurred in connection with liquidating the Fund's investments. Shareholders remaining in the Fund just prior to the Liquidation Date may bear increased transaction fees incurred in connection with the disposition of the Fund's portfolio holdings. For additional information please contact the Fund at 888-472-3102 or send an email request to funds@ramirezam.com."
In other news, Crane Data published its latest Weekly Money Fund Portfolio Holdings statistics Tuesday, which track a shifting subset of our monthly Portfolio Holdings collection. The most recent cut (with data as of April 11) includes Holdings information from 57 money funds (unchanged from two weeks ago), or $3.494 trillion (down from $3.509 trillion) of the $7.307 trillion in total money fund assets (or 47.8%) tracked by Crane Data. (Note: Our Weekly MFPH are e-mail only and aren't available on the website. See our latest Monthly Money Fund Portfolio Holdings here and our April 10 News, "April Money Fund Portfolio Holdings: Repo Surges, Treasuries Plummet.")
Our latest Weekly MFPH Composition summary shows Government assets dominating the holdings list with Treasuries totaling $1.676 trillion (up from $1.644 trillion two weeks ago), or 48.0%; Repurchase Agreements (Repo) totaling $1.196 trillion (down from $1.231 trillion two weeks ago), or 34.2%, and Government Agency securities totaling $291.0 billion (down from $294.0 billion), or 8.3%. Commercial Paper (CP) totaled $139.4 billion (down from two weeks ago at $140.9 billion), or 4.0%. Certificates of Deposit (CDs) totaled $74.8 billion (down from $82.3 billion two weeks ago), or 2.1%. The Other category accounted for $76.5 billion or 2.2%, while VRDNs ac-counted for $39.9 billion, or 1.1%.
The Ten Largest Issuers in our Weekly Holdings product include: the US Treasury with $1.676 trillion (48.0% of total holdings), Fixed Income Clearing Corp with $339.8B (9.7%), the Federal Home Loan Bank with $189.1 billion (5.4%), JP Morgan with $123.6B (3.5%), Citi with $80.6B (2.3%), BNP Paribas with $79.4B (2.3%), RBC with $69.0B (2.0%), Federal Farm Credit Bank with $68.3B (2.0%), Wells Fargo with $56.9B (1.6%) and Bank of America with $48.3B (1.4%).
The Ten Largest Funds tracked in our latest Weekly include: JPMorgan US Govt MM ($288.7B), Goldman Sachs FS Govt ($254.9B), JPMorgan 100% US Treas MMkt ($254.1B), Fidelity Inv MM: Govt Port ($232.1B), Morgan Stanley Inst Liq Govt ($172.5B), State Street Inst US Govt ($164.1B), BlackRock Lq FedFund ($163.1B), BlackRock Lq Treas Tr ($155.2B), Fidelity Inv MM: MM Port ($154.8B) and Dreyfus Govt Cash Mgmt ($130.7B). (Let us know if you'd like to see our latest domestic U.S. and/or "offshore" Weekly Portfolio Holdings collection and summary.)
Finally, ICI also released its latest monthly "Money Market Fund Holdings" summary, which reviews the aggre-gate daily and weekly liquid assets, regional exposure, and maturities (WAM and WAL) for Prime and Gov-ernment money market funds. It tells us, "The Investment Company Institute (ICI) reports that, as of the final Friday in March, prime money market funds held 44.0 percent of their portfolios in daily liquid as-sets and 58.8 percent in weekly liquid assets, while government money market funds held 76.9 percent of their portfolios in daily liquid assets and 87.4 percent in weekly liquid assets." Prime DLA was down from 45.2% in February, and Prime WLA was down from 60.8%. Govt MMFs' DLA rose from 76.2% and Govt WLA was up from 87.2% for the previous month.
ICI explains, "At the end of March, prime funds had a weighted average maturity (WAM) of 27 days and a weighted average life (WAL) of 50 days. Average WAMs and WALs are asset-weighted. Government money market funds had a WAM of 37 days and a WAL of 91 days.” Prime WAMs were 4 days shorter and WALs were 1 day shorter from the previous month. Govt WAMs and WALs were unchanged from February.
Regarding Holdings by Region of Issuer, the release tells us, "Prime money market funds' holdings attributable to the Americas rose from $600.61 billion in February to $613.18 billion in March. Gov-ernment money market funds' holdings attributable to the Americas rose from $5,226.23 billion in February to $5,294.89 billion in March."
The Prime Money Market Funds by Region of Issuer table shows Americas-related holdings at $613.2 billion, or 54.9%; Asia and Pacific at $189.8 billion, or 17.0%; Europe at $283.4 billion, or 25.4%; and, Other (including Supranational) at $30.2 billion, or 2.7%. The Government Money Market Funds by Region of Issuer table shows Americas at $5.295 trillion, or 91.7%; Asia and Pacific at $136.4 billion, or 2.4%; Europe at $308.7 billion, 5.3%, and Other (Including Supranational) at $34.2 billion, or 0.6%.
