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Crane 100 Money Fund Index
5.14%
unch.
annualized 7-day current yield as of 3/27
March MFI: Digital MMFs; FSB on Global Reforms; Fed Repo to T-​Bills
Register Soon! Bond Fund Symposium, March 25-26, 2024, Philadelphia
Mark Your Calendars! Money Fund Symposium, June 12-14, 2024, Pittsburgh
Fidelity Live With New 14 Basis Point Institutional Money Fund Classes
Dec 19
07
Fidelity Live With New 14 Basis Point Institutional Money Fund Classes
.
Fidelity Investments
tells us that its new 14 basis point Institutional share classes launched yesterday. The new
Fidelity Institutional Money Market Portfolio Institutional (
FNSXX) and Fidelity Inst MM Prime Inst (
FIPXX)
will have
$
10 million minimum investments
and will be waiving 4 basis points of their total 18 bps in expenses. The new
Fidelity funds have been added to online trading portal
BNY Mellon LMS (
Liquidity Management Service)
. They join the 13 bps expense
Federated Money Market Management Premier Shares
, the 13 bps
Wells Fargo Advantage Cash Invest Select
, the 14 bps
UBS Select Prime MMF Preferred
,
State Street Inst Treasury Inst
, and others as
new "
super-
premium" share classes designed to court the high-
end institutional marketplace
. (
See also:
Crane Data'
s 10/
31/
07 News
"
Federated Enters Super Institutional Market, Exits Enhanced Cash
",
Nov. Money Fund Intelligence'
s "
Giants Launch Super Premium Share Classes"
, and
July MFI'
s "
How Low Can Expenses Go?"
) In other new
Fund Filing
news,
GE Money Market Institutional
and
ING Institutional Prime Money Market Market IS
have
filed new fund registrations and are pending launch
.
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