Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of Aug. 29, 2016 )
Institutional Money Funds 7-Day Yield%
BlackRock Cash Inst MMF Inst (BGIXX) 0.59
Deutsche Daily Assets Fund Cap (DAFXX) 0.56
Western Asset Inst Liquid Res Inst (CILXX) 0.48
HSBC Inv Prime Money Market I (HSIXX) 0.47
State Street Inst Liquid Res Prem (SSIXX) 0.44
Retail Money Funds 7-Day Yield%
Fidelity Inv MM: MM Port Inst (FNSXX) 0.55
Vanguard Prime MMF Adm (VMRXX) 0.55
Schwab Value Adv MF Ultra (SNAXX) 0.49
Fidelity Money Market Fund Prem (FZDXX) 0.45
UBS Prime Preferred Fund (UPPXX) 0.43
Tax Exempt Money Funds 7-Day Yield%
Federated Municipal Obligs WS (MOFXX) 0.39
BMO Tax-Free MMF Premier (MFIXX) 0.39
Vanguard Tax Exempt MMF (VMSXX) 0.37
Fidelity Inv MM: Tax Exempt I (FTCXX) 0.35
Vanguard OH Tax-Exempt MMF (VOHXX) 0.35

Money Market News

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With just a month and a half left before the SEC's major Money Fund Reforms go into effect, we continue to see the cash investment landscape shift by the week. The latest fund lineup merger, which happened last night, involves State Street combining its SSGA and State Street Institutional funds. State Street's merger filing explains, "At a joint special meeting of the shareholders of the Funds on August 22, 2016, the shareholders of Class N of each Fund approved its respective proposal to merge (each, a "Selling Fund") with and into the corresponding class of a corresponding buying fund (the "Buying Fund") listed in the table below (each, a "Reorganization"). Each reorganization had been previously approved by the Board of Trustees of each Selling Fund. Accordingly, it is expected that at the close of business on August 26, 2016, the Reorganization of the Selling Funds will be completed and your shares will be converted into shares of the corresponding Buying Fund." We've also seen `several new liquidations, prime to government conversions, name changes and fee adjustments. We review the most recent batch below.

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Inside Money Fund Intelligence

MFI PDF August 2016 Issue

Largest Money Fund Managers

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The August 2016 issue of Money Fund Intelligence features: "The Big Shrink: Prime Assets, Spreads; Latest Changes," which looks at Prime fund asset, yield and maturity declines; "New Lion King: Santero In at Dreyfus; Cardona Retiring," which profiles Mark Santero and Charlie Cardona of Dreyfus; and, "AFP Liquidity Survey Shows Deposits Peaked, MMFs Up," which reviews last month's survey of corporate treasurers.

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 July 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.


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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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European Money Fund Symposium

The agenda is now available and registrations are being taken for European Money Fund Symposium, which will be held Sept. 20-21, 2016, in London. Our next "basic training" event, Money Fund University, will be held Jan. 19-20, 2017, in Jersey City, NJ. Visit www.moneyfunduniversity.com soon for more details or to request the latest brochure. Finally, thanks to those who attended our Crane's Money Fund Symposium recently in Philadelphia! Mark your calendars for our next big show will be in Atlanta, June 21-23, 2017 (visit moneyfundsymposium.com for details in coming months).

Bond Fund Intelligence

Crane Data's Bond Fund Intelligence tracks the bond mutual fund marketplace with an emphasis on the ultra-short bond fund segment. BFI's complement, Bond Fund Intelligence XLS, is a monthly spreadsheet with performance and statistics on bond funds and bond ETFs. Let us know if you'd like to see the latest issue or to learn more about these new products, and watch for our Bond Fund Intelligence website (www.bondfundintelligence.com) to go live late in 2016. Finally, visit our Content Center to access the latest BFI and BFI XLS issues and archives.