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Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of April 23, 2014 )
Institutional Money Funds 7-Day Yield%
Meeder Money Mkt Fund Inst (FFIXX) 0.11
BlackRock Cash Inst MMF Inst (BGIXX) 0.10
Oppenheimer Inst MM E (IOEXX) 0.09
Fidelity Inst MM: MM Port Inst (FNSXX) 0.09
American Beacon MM Select (ASRXX) 0.08
Retail Money Funds 7-Day Yield%
Meeder Money Mkt Retail (FFMXX) 0.06
Schwab Cash Reserves Fund (SWSXX) 0.06
BofA Cash Reserves Daily (NSHXX) 0.05
PNC Money Market A (PEAXX) 0.03
Delaware Cash Reserves A (DCRXX) 0.03
Tax Exempt Money Funds 7-Day Yield%
BMO Tax-Free MMF I (MFIXX) 0.06
Alpine Municipal MMF Y (AMUXX) 0.05
Western Asset Inst AMT Free A (INMXX) 0.04
FFI Inst Tax Exempt (MLEXX) 0.03
BlackRock Lq MuniFund Dol (MFDXX) 0.02

Money Market News

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Another batch of "Comments on Proposed Rule: Money Market Fund Reform; Amendments to Form PF" has been posted to the SEC's website on Money Market Fund Reform. This time, the comments are in response to the SEC's 4 "mini" March 24 studies, "Staff Analysis of Data and Academic Literature Related to Money Market Fund Reform." The comments overall appear to be critical of the works, and they take particular aim at the SEC's "Safe Assets" study. Below, we excerpt from Wells Fargo Funds Management's letter, written by President Karla Rabusch, which says the SEC's methodology and studies "miss the mark" and are inadequate to support several possible proposed changes. Rabusch writes, "On behalf of Wells Fargo & Company and its subsidiaries, Wells Fargo Funds Management, LLC appreciates the opportunity to comment on the analyses of money market fund-related data and economic literature conducted by the staff of the Securities and Exchange Commission's Division of Economic and Risk Analysis ("DERA") and issued on March 24, 2014 ("Analyses")."

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Inside Money Fund Intelligence

MFI PDF April 2014 Issue

Largest Money Fund Managers

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The April 2014 issue of Money Fund Intelligence features: “More Talk, No Action Yet on Pending MMF Reforms," which reviews recent SEC speeches and comments on pending regulations; "Plaze Says Doing Nothing Better Than SEC Proposals," which interviews Stroock Partner and former SEC Deputy Director Bob Plaze; and, “Global MF Growth Led by China, US; EU Buffer Dies,” which reviews the growth of global money fund markets.

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.

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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 March 31, 2014. (MFI XLS contains percentile rankings, fund family rankings, "shadow" NAVs, portfolio composition, and more).

Excerpt from MFI XLS

About Crane Data LLC

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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.

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Apr 15
Holland Moves Up at Schwab

Rick Holland is now leading Charles Schwab Investment Management's Money Fund Product team. Andrew Tong, Ryan Utsumi, Roanne Andrade and Ellen Lee now report to Rick, who reports to John Sturiale, SVP of Product Management.

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Apr 10
SS Fund Connect Looking

State Street's Fund Connect Platform is seeking an Internal Sales Representative for its online money fund trading "portal". Go to www.statestreet.com/careers and search for job number 88631 for more info.

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Apr 08
Square 1 AM Seeks PM

Square 1 Asset Management, a subsidiary of Square 1 Bank, is seeking an experienced short term fixed income portfolio manager in their San Francisco office. E-mail Lea Coats or see their post on LinkedIn for more information.

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Crane Data News & Features

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Crane's Money Fund Symposium

Crane Data’s “big show” for 2014, our Money Fund Symposium, will be held at the Boston Renaissance Waterfront Hotel, June 23-25. The agenda is now up and registrations are being accepted at www.moneyfundsymposium.com. We will also host our second annual European event on Sept. 22-23, 2014, in London at the London Tower Bridge Hilton. (Visit www.euromfs.com for details and watch for the agenda soon.) Contact us for more details about these events or to see our latest PDF brochure. Finally, thanks to those who attended Crane Data's "basic training" money market mutual fund course, Money Fund University, recently in Providence. Our next University event will take place Jan. 22-23, 2015 in Stamford, Conn. (Visit www.moneyfunduniversity.com for more details.) Contact Pete for sponsorship info or speaking opportunities. We hope to see you in Boston this summer!