Crane Data Subscribers
Crane 100 Return 5% in 2007; Indexes Continue Lower in December. Money market mutual funds, as measured by the Crane 100 Money Fund Index, returned 5.01% for calendar 2007. The Crane 100 returned 0.38% in December, 1.18% for Q4'07, and returned an annualized rate of 4.24% over 3 years, 2.90% over 5 years, and 3.64% over 10 years through December 31, 2007. The Crane 100 began 2007 with a 7-day annualized current yield of 4.98% (and spend the first half of the year there) and ended the year yielding 4.49%. For calendar 2007, the broad Crane Money Fund Average returned 4.79%; the Crane Institutional MF Index returned 5.09%; the Crane Individual MF Index returned 4.62%; and, the Crane Tax Exempt MF Index returned 3.17%. Among subcategories, the Crane Prime Institutional MF Index returned 5.23% and the Prime Individual Index returned 4.78% in 2007. Average maturities of money funds decreased in December, with the Crane 100 AM (average maturity) declining from 41 to 38 days on average. (AM measures the average length of time for a money fund portfolio to turn over.) See the January issue of our Crane Index or Money Fund Intelligence for a full listing of index returns by category.
