May 28

 

The final agenda is set and final preparations are being made for our 5th annual Crane'​s Money Fund Symposium, the largest of Crane Data'​s three money conferences, which will take place in less than a month at the Baltimore Hyatt Regency (​June 19-​21). Over 300 have registered to-​date, and we expect well over 400 attendees, speakers and sponsors by show-​time, which should make thus year'​s Symposium the largest yet. Unfortunately, our discounted hotel room block is now sold out, though a few rooms remain at the Hyatt at higher prices, and rooms remain at several neighboring hotels. (See the website for details.) There have been several last minute changes, to the agenda and times, so we review these and other event details below.

To accommodate some Treasury schedule changes, we'​ve moved Matt Rutherford from Day 1 to Day 3 of Symposium. The agenda for Wednesday, June 19 is as follows: After an initial "Welcome to Money Fund Symposium 2013" by Peter Crane, President & Publisher of Crane Data, we feature a discussion entitled, "Moving Forward: Money Funds & Washington" with ICI'​s Paul Schott Stevens. The opening afternoon will then substitute two parts of our "Strategists Speak '​13: Cash Plus & Europe" with Alex Roever of J.​P. Morgan Securities and Garret Sloan of Wells Fargo Securities in place of "The Treasury Talks," which has been moved to Friday a.​m. This will be followed by a session entitled, "Corporate & MMFs: Liquidity Is Still King" with Jeff Glenzer from the Association for Financial Professionals and Tony Carfang of Treasury Strategies. Then, the first day will close with a panel, "Major Money Fund Issues 2013," moderated by Andrew Linton of J.​P. Morgan Asset Management and featuring Charlie Cardona of BNY Mellon CIS/​Dreyfus, Debbie Cunningham of Federated Investors and Nancy Prior of Fidelity Management & Research. Finally, the Day 1 reception will be sponsored by Bank of America Merrill Lynch.

Day 2 of Money Fund Symposium features: "The State of The Money Market Fund Industry" with Peter Crane of Crane Data and Dave Sylvester of Wells Fargo Funds; "Senior Portfolio Manager Perspectives" with Chris Stavrakos of BlackRock, John Tobin of J.​P. Morgan Asset Management, and Joe Lynott of T. Rowe Price and; "Repurchase Agreement Issues & Update" with Joseph Abate of Barclays Capital, Rob Sabatino of UBS Global Asset Management, and Vic Chaikrian of the Federal Reserve Bank of New York; and "Municipal Money Fund Market Update" with Helena Condez of T. Rowe Price Associates, Colleen Meehan of Dreyfus Corp., and Ron Vandenhandel of Deutsche Bank.

The afternoon of Day 2 (​after a Dreyfus-​sponsored lunch) features: "Dealer Doings: Supply, Innovations, Concerns" moderated by Lu Ann Katz of Invesco and featuring Chris Condetta of Barclays Capital, John Kodweis of J.​P. Morgan Securities, and Jean-​Luc Sinniger of Citi Global Markets; "Government Agency Issuers & Supernationals" moderated by Dan Davis of CastleOak Securities and featuring Jonathon Hartley of FHL Banks Office of Finanace, Regina Gill of Federal Farm Credit Funding, and Michael Schulze of KfW; "Risks to Ratings: Areas of Concern" with Peter Yi of Northern Trust, Roger Merritt of Fitch Ratings and Peter Rizzo of Standard & Poor'​s; and "Survivor: Update on European Money Funds" with Jonathan Curry of HSBC Global Asset Management and Dan Morrissey of William Fry. (​The Day 2 reception is sponsored by Barclays.)

The third day of Symposium features: "Strategists Speak '​13: Fed" with Brian Smedley of Bank of America Merrill Lynch; "FSOC Recommendations & Floating Rate Notes" with Matt Rutherford of the U.​S. Department of the Treasury; Regulatory Roundtable: Pending & Potential" with John McGonigle of Federated Investors, Jack Murphy of Dechert, and possibly Sarah ten Siethoff of the Securities & Exchange Commission (​invite pending). The last section includes: "Portal Panel: Beyond MMFs & Transparency" with John Carter of Citi Global Transaction Services, Greg Fortuna of State Street'​s Fund Connect, and Graeme Henderson of Cachematrix; and, finally, "Technology Tools & Software Update" with Peter Crane, Derek Kleinbauer of Bloomberg, and James Morris of Investortools.

We hope to see you in just over 3 weeks in Baltimore! We'​re still taking registrations, but we expect to sell out soon. Finally, we'​ve also released and updated the agenda for our European Money Fund Symposium, which will be held at the Conrad Hotel in Dublin, September 24-​25, 2013, and we'​ve set the dates for our next Crane'​s Money Fund University (​Jan. 23-​24, 2014, in Providence) and our next Money Fund Symposium (​Boston, June 23-​25, 2014). Contact us or watch for more details on these in coming weeks.

Apr 24

 

Crane Data, which produces largest annual gathering of money market professionals, Crane'​s Money Fund Symposium, and the "​basic training" event, Money Fund University, announces the launch of its third event, and first international offering, Crane'​s European Money Fund Symposium. European Money Fund Symposium will be held at the Conrad Hotel in Dublin, Ireland on September 24-​25, 2013, and will feature many of the world'​s foremost experts on "​offshore" money market mutual funds. Registration, which is $​1,​000 USD (​or 750 Euros), is now open and hotel reservations are now being accepted.

Our Peter Crane writes, "​Dear Money Fund & Cash Investment Professional: I'​m pleased to announce the launch of Crane'​s European Money Fund Symposium, Sept. 24-​25, 2013, at The Conrad Hotel in Dublin, Ireland. Crane Data'​s U.​S. Money Fund Symposium attracts the largest gathering of money fund professionals in the world, so we expect our inaugural European event to attract a robust crowd. We'​re now accepting registrations and hotel reservations, and are happy to discuss speaking and sponsorship opportunities."

He adds, "European Money Fund Symposium will offer money market portfolio managers, investors, issuers, and service providers a concentrated and affordable educational experience, as well as an excellent and informal networking venue. Our mission is to deliver the best possible conference content at an affordable price to money market fund professionals and investors. Attendee registration for Crane'​s European Money Fund Symposium is $​1,​000 (​or E750). A block of sleeping rooms has been reserved at The Conrad Dublin. The conference negotiated rate of E179 single and E189 double are available through September 5th. We hope to see you in Dublin!"

The preliminary Day One Agenda for Crane'​s European Money Fund Symposium includes: "State of MMFs in Europe & IMMFA Update" with Jonathon Curry, Global CIO Liquidity, HSBC Global Asset Management; "Global Regulatory Issues: What'​s Next?" with Dan Morrissey, Partner & Head of Asset Management, William Fry and John Hunt, Partner, Nutter, McClennen & Fish; "Risks & Ratings: Areas of Concern" with Yaron Ernst, Managing Director, Moody'​s Investors Service; "Monitoring European & Offshore MFs" with Peter Rizzo, Managing Director, Standard & Poor'​s and Aymeric Poizot, Head of EMEA Fund Ratings, Fitch Ratings; "Major Issues in Euro Money Funds" with Jason Granet, MD & Head International Liquidity PM, Goldman Sachs Asset Mgmt and an as yet unnamed Portfolio Manager from J.​P. Morgan Asset Management; "Major Issues in Sterling Money Funds" with Jennifer Gillespie, Head of Money Markets, Legal & General I.​M. and Jonathan Curry, Global CIO Liquidity, HSBC Global Asset Management; "Major Issues in USD & US Money Funds with Debbie Cunningham, MM CIO, Federated Investors and Jennifer Yazdanpanahi, Head of EMEA Cash, SSgA; and, "MMFs in Asia & Emerging Markets" with Peter Crane, President & Publisher, Crane Data and Andrew Paranthoiene, Director, Standard & Poor'​s.

The Day Two Agenda includes: "Dublin as a Domicile for Money Market Funds" with Pat Lardner, Chief Executive, Irish Funds Industry Association; "Distribution Panel: New Markets & Concerns" with Rich Boyd, Sr. VP & Head of Business Development, Federated Intl Management Ltd, Jim Fuell, Head of Global Liquidity, EMEA, J.​P. Morgan Asset Management; and Kathleen Hughes, Global Head of Liquidity Sales, Goldman Sachs A.​M.; "Dealer Update & Supply Discussion" with Kieran Davis, European Head of ST Trading, Barclays, Jean-​Luc Sinniger, Director, Citi Global Markets and David Hynes, Partner, Northcross Capital LLP; "From the Regulators Perspective" Bank of England, EU Regulator (​Invited); "Portal Panel: Beyond MMFs & Transparency" with Justin Meadows, Chief Executive, MyTreasury, Greg Fortuna, MD, State Street'​s Fund Connect, and Maryum Malik, Director of Business Development, SunGard; "Back Office Briefs: Accounting & Servicing"; and "Portfolio Manager Roundtable & Open Talk."

Sponsors to date of the event include: Moody'​s Investors Service, Federated International, J.​P. Morgan Asset Management, State Street Global Advisors, MyTreasury, Standard & Poor'​s. Sponsorship levels are $​3K, $​4.​5K, $​6K, and $​7.​5K, and limited speaking opportunities remain. Visit www.​euromfs.​com or contact us for more details.

Finally, preparations are being made for Crane Data'​s flagship event, Money Fund Symposium (www.​moneyfundsymposium.​com), which will take place June 19-​21, 2013, at The Baltimore Hyatt Regency. We expect over 400 money fund managers, marketers and professionals, money market securities dealers and issuers, servicers and cash investors of all stripes. We hope to see you in June in Baltimore!

Feb 12

 

The brochure and preliminary agenda are now available for Crane Data'​s 5th annual Money Fund Symposium, the largest gathering of money fund professionals anywhere, which will be held June 19-​21, 2013 at The Hyatt Regency Baltimore. The Agenda has been posted on the Symposium website (​www.​moneyfundsymposium.​com), which is also now accepting registrations ($​750) and hotel reservations. Brochures will be sent to past attendees and to Crane Data subscribers later this week. (​E-​mail us at info@​cranedata.​com to request the full brochure.) Last year'​s Money Fund Symposium in Pittsburgh attracted over 420 money fund managers, marketers and servicers, cash investors, and money market securities dealers and issuers, and was supported by 30 sponsors and exhibitors.

After an initial "Welcome to Money Fund Symposium 2013" by Peter Crane, President & Publisher of Crane Data, this year'​s agenda will start the afternoon of June 19 with the keynote speech "Moving Forward: Money Funds & Washington" by ICI'​s Paul Schott Stevens. The opening afternoon will also feature: "The Treasury Talks: FSOC & Floating Notes" with U.​S. Department of the Treasury'​s Matt Rutherford. This will be followed by a session entitled, "Corporate & MMFs: Liquidity Is Still King" with Jeff Glenzer from the Association for Financial Professionals and Tony Carfang of Treasury Strategies. The first day will close with a panel, "Major Money Fund Issues 2013" featuring Charlie Cardona of BNY Mellon CIS/​Dreyfus, Debbie Cunningham of Federated Investors and Nancy Prior of Fidelity Management & Research. The opening reception will be sponsored by Bank of America Merrill Lynch.

Day 2 of Money Fund Symposium features: "The State of The Money Market Fund Industry" with Peter Crane of Crane Data and Robert Deutsch of J.​P. Morgan Asset Management; "Senior Portfolio Manager Perspectives" with Chris Stavrakos of BlackRock, Dave Sylvester of Wells Fargo Funds and John Tobin of J.​P. Morgan Asset Management; "Repurchase Agreement Issues & Update" with Joseph Abate of Barclays Capital and Rob Sabatino of UBS Global Asset Management; and "Municipal Money Fund Market Update" with Helena Condez of T. Rowe Price Associates, Colleen Meehan of Dreyfus Corp., and Ron Vandenhandel of Deutsche Bank.

The afternoon of Day 2 (​after a Dreyfus-​sponsored lunch) features: "Dealer Doings: Supply, Innovations, Concerns" moderated by Lu Ann Katz of Invesco and featuring Chris Condetta of Barclays Capital, John Kodweis of J.​P. Morgan Securities, and Jean-​Luc Sinniger of Citi Global Markets; "Government Agency Issuers & Supernationals" with Jonathon Hartley of FHL Banks Office of Finanace, Regina Gill of Federal Farm Credit Funding, and Michael Schulze of KfW; "Risks to Ratings: Areas of Concern" with Peter Yi of Northern Trust, Roger Merritt of Fitch Ratings and Peter Rizzo of Standard & Poor'​s; and "Survivor: Update on European Money Funds" with Jonathon Curry of HSBC Global Asset Management and Dan Morrissey of William Fry. (​The Day 2 reception is sponsored by Barclays.)

The third day of Symposium features: "Strategists Speak '​13: Fed, Cash Plus & Europe" with Brian Smedley of Bank of America Merrill Lynch, Alex Roever of J.​P. Morgan Securities, and Garret Sloan of Wells Fargo Securities; "Regulatory Roundtable: Pending & Potential" with John McGonigle of Federated Investors, and possibly a speaker from the Securities & Exchange Commission (​invite pending). The last section includes: "Portal Panel: Beyond MMFs & Transparency" with John Carter of Citi Global Transaction Services and George Hagerman of Cachematrix; and, finally, "Technology Tools & Software Update" with Peter Crane, Anthony Mossa of Bloomberg, and James Morris of Investortools.

Money Fund Symposium 2013 promises once again to be "​the" place to be for money market professionals -- register and reserve your spot today! Exhibit space for Money Fund Symposium is $​3,​000; and sponsorship opportunities are $​4.​5K, $​6K, $​7.​55K, and $​10K. Finally, our next Crane'​s Money Fund University is tentatively scheduled for Jan. 23-​24, 2014, in Providence. Note too that Crane Data is preparing to launch its first European Money Fund Symposium, which is tentatively scheduled for Sept. 26-​27, 2013 in Dublin, Ireland. Contact us or watch for more details in coming weeks.

Jan 08

 

The January issue of Crane Data'​s Money Fund Intelligence newsletter, which will be e-​mailed to subscribers later this morning, will announce the winners of our MFI Awards, a designation given to the top-​performing money market mutual funds for 2012. We also review recent fund news in the article, "Consolidation & Liquidations, Asset Rebound & FSOC Outlook," and feature the profile, "Dechert'​s Vartanian Says FSOC Jumping the Gun" in our new edition. Finally, we'​ve updated our Money Fund Wisdom database query system with Dec. 31, 2012, performance statistics and rankings, and our MFI XLS will be sent out shortly. (​Our Dec. 31 Money Fund Portfolio Holdings are scheduled to go out on Thursday.)

Our piece, "Top MMFs of 2012; Our 4th Annual MFI Awards," says, "In this issue, we once again recognize some of the top-​performing money funds, ranked by total returns, for calendar 2012, as well as the top-​ranked funds for the past 5-​year and past 10-​year periods. We present the following funds with our annual Money Fund Intelligence Awards. (​See the table on page 6 of MFI for the table with the winners.) These include the No. 1-​ranked funds based on 1-​year, 5-​year and 10-​year returns, through Dec. 31, 2012, in each of our major fund categories (​our "​Type") -- Prime Institutional, Government Institutional, Treasury Institutional, Prime Individual, Government Individual, and Treasury Individual."

MFI says, "The top-​performing Taxable funds overall in 2012 and among Prime Institutional funds was Reich & Tang Natixis Liq Prm Port Treas (​LQTXX), which returned 0.​25%. Among Prime Retail funds, Flex-​funds Money Market Retail (​FFMXX) again had the best return in 2012 (​0.​10%). American Beacon US Govt Select (​AAOXX) won the Top Government Institutional fund over a 1-​year period with a return of 0.​09%, while Selected Daily Govt Fund S (​SDGXX) won the MFI Award for Government Retail Money Funds (​1-​year return). BlackRock Cash Treas MMF Inst (​BRIXX) ranked No. 1 in the Treasury Institutional class, and Invesco Treasury Private (​TPFXX) ranked tops among Treasury Retail funds.

We say about the "Top Funds Over Past Five Years," "​For the 5-​year period through December 31, 2012, Touchstone Inst MF again took top honors for the best-​performing money fund with a return of 1.​01%. Fidelity Select MM Port ranks No. 1 among Prime Retail funds with an annualized return of 0.​78%. Goldman Sachs FS Govt In (​FGTXX) again ranked No. 1 among Govt Institutional funds, while Selected Daily Govt Fund D (​SGDXX) ranked No. 1 among Treasury Retail funds over the past 5 years. Vanguard Admiral Treasury ranked No. 1 in 5-​year performance among Treasury Institutional money funds, and Invesco Treasury Priv ranked No. 1 among Treasury Retail MM funds."

On the "Best Money Funds of the Decade," MFI comments, "The highest-​performers of the past 10 years include: DWS Daily Assets Fund Inst (​DAFXX), which returned 2.​04% (​No. 1 overall and first among Prime Inst); Fidelity Select MM Portfolio (​FSLXX), which returned 1.​87% (​the highest among Prime Retail); American Beacon US Govt Select (​AAOXX), which returned 1.​85%, (​No. 1 among Govt Inst funds); and, Vanguard Federal Money Market Fund (​VMFXX), which ranked No. 1 among Govt Retail funds (​1.​76%). Milestone Treasury Obligs Fin (​MIL01) returned the most among Treasury Institutional funds over the past 10 years; and, Goldman Sachs FS Trs Obl Sel (​GSOXX) ranked No. 1 among Treasury Retail funds."

MFI'​s Awards piece adds, "See our additional rankings tables on pages 9-​11, and see our Money Fund Intelligence XLS for more detailed listings, percentiles, and rankings. Look for more details in coming days on the website too (​www.​cranedata.​com). Winners will receive a letter and certificate stating their No. 1 ranking and the criteria used. The table below shows the No. 1 ranked money funds for each category based on 1-​year, 5-​year, and 10-​year annualized total returns." Watch for more excerpts from MFI and more awards in coming days.