Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of Sept. 24, 2016 )
Institutional Money Funds 7-Day Yield%
BlackRock Cash Inst MMF Inst (BGIXX) 0.56
Deutsche Daily Assets Fund Cap (DAFXX) 0.50
Dreyfus Prime MMF Citizens (CZAXX) 0.47
Northern Instit Prime Oblig Sh (NPAXX) 0.47
Western Asset Inst Cash Res Inst (CARXX) 0.45
Retail Money Funds 7-Day Yield%
Vanguard Prime MMF Adm (VMRXX) 0.61
Fidelity Inv MM: MM Port Inst (FNSXX) 0.56
Fidelity Money Market Fund Prem (FZDXX) 0.55
Schwab Value Adv MF Ultra (SNAXX) 0.53
First American Ret Prime Oblgs Z (FZRXX) 0.52
Tax Exempt Money Funds 7-Day Yield%
BMO Tax-Free MMF Premier (MFIXX) 0.60
Federated Municipal Obligs WS (MOFXX) 0.59
Federated Tax-Free Obligs WS (TBIXX) 0.55
Vanguard NY Tax Exempt MMF (VYFXX) 0.54
Vanguard Tax Exempt MMF (VMSXX) 0.54

Money Market News

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The total amount of money that's moved out of Prime and Tax Exempt MMFs combined hit $900 billion this week, as the "Big Shift" of assets into Government money funds accelerated ahead of approaching money market reforms. ICI's latest "Money Market Fund Assets" report shows MMFs overall increasing $10.7 billion in the latest week, after dropping sharply two straight weeks. Prime funds fell by over $60 billion for the second week in a row; they've declined in 16 out of the past 17 weeks (-$496.8B) and have averaged outflows of $29.0 billion a week since June 1 and $52.1 billion since Sept. 1. Since Oct. 29, 2015, Prime assets have fallen by a massive $789.3 billion, or 54.1%, and Tax Exempt funds have declined by another $107.5 billion, or 43.9%. Combined these two sectors have fallen by $896.8 billion (52.6%) since this giant migration started, and we expect the total shift to break $1.0 trillion ahead of the Oct. 14 MMF Reform "live" deadline.

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Inside Money Fund Intelligence

MFI PDF September 2016 Issue

Largest Money Fund Managers

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The September 2016 issue of Money Fund Intelligence features: "Liquidity, Liquidity & Liquidations: Reform Deadline Nears," which reviews the latest Prime and Tax Exempt changes and liquidations; "Western Asset's Green, Bonczek & Rose on MMFs," which profiles Zak Green, John Bonczek and Justin Rose; and, "MFI International Review: LVNAV Coming Soon; Sterling," which reviews the latest on European and "​offshore" money funds.

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 August 31, 2016. (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.

People

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Aug 11
Caruso Now at Natixis

Jason Caruso, formerly with Credit Suisse, is now an Executive Director with Natixis.

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Jul 20
Walsh Fidelity PM

Maura Walsh is now Portfolio Manager of the new Fidelity Inv MM Prime Reserves.

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Jul 01
Everett No Longer at Northern

Money fund industry veteran Steve Everett is no longer with Northern Trust Asset Management.

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Crane Data News & Features

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Bond Fund Symposium

Mark your calendars for Crane Data's inaugural Bond Fund Symposium, which is scheduled for March 23-24, 2017, at the Boston Hyatt Regency. We plan on bringing bond fund managers, professionals, investors, dealers, issuers and servicers together for 2 days of intensive discussions of all things bond fund, with a focus on the ultra-short segment. (Contact Pete if you're interested in speaking or sponsoring.) Crane Data began publishing its Bond Fund Intelligence and tracking the bond mutual fund marketplace in 2015, and we continue to expand our readership, coverage and product lineup. Let us know if you'd like to see the latest issue or to learn more. Visit our Content Center to access the latest BFI and BFI XLS issues and archives.

Money Fund University

The agenda is now available and registrations are being taken for our "basic training" event, Crane's Money Fund University, which will be held Jan. 20-21, 2017, in Jersey City, NJ. For details and to register visit www.moneyfunduniversity.com. Also, mark your calendars for our next "big show," Money Fund Symposium, will be held in Atlanta, June 21-23, 2017 (visit moneyfundsymposium.com for more info in coming months). Finally, thanks to those who attended our European Money Fund Symposium recently in London! Our next "offshore" money fund event is tentatively scheduled for Sept. 21-22, 2017 in Paris.