Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of June 21, 2024 )
Institutional Money Funds 7-Day Yield%
Western Asset Prem Inst Liq Res Cap (WAAXX) 5.37
State Street Inst Liq Reserve Prem (SSIXX) 5.36
Morgan Stanley Inst Liq Prime MMP Inst (MPFXX) 5.35
DWS ESG Liquidity Inst (ESGXX) 5.35
Allspring Heritage Select (WFJXX) 5.33
Retail Money Funds 7-Day Yield%
Invesco Premier Investor (IMRXX) 5.36
First American Ret Prime Obligs X (FXRXX) 5.34
Allspring MMF Prm (WMPXX) 5.34
UBS Prime Preferred Fund (UPPXX) 5.34
Federated Hermes Prime Cash Oblig WS (PCOXX) 5.32
Tax Exempt Money Funds 7-Day Yield%
Federated Hermes Muni Obligs WS (MOFXX) 3.32
Allspring Nat Tax-Free Prem (WFNXX) 3.24
Fidelity Inv MM: Tax Exempt I (FTCXX) 3.14
Goldman Sachs Inv Tax-Ex MMF In (FTXXX) 3.08
Dreyfus National Muni MMF Prem (GMHXX) 3.04

Money Market News

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The Association for Financial Professionals, a group representing corporate treasurers, published its "2024 AFP Liquidity Survey" last week. (See AFP's press release.) The cover letter says, "Invesco is proud to once again partner with the Association of Financial Professionals (AFP) to sponsor the 19th annual AFP Liquidity Survey Report. This marks the fifth year that Invesco has sponsored this industry-leading exploration into current and emerging corporate cash management trends." Invesco's Laurie Brignac explains, "The cash management landscape has certainly evolved over the five years that Invesco has sponsored this report. Treasury professionals have adapted to multiple challenges during those five years including zero rates, banking challenges, Covid disruptions, geopolitical events, elevated inflation, and the highest rates in decades. A key theme that emerged in this year's report is the elevated levels of cash balances across most organizations, and expectations that this will continue to be the case."

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Inside Money Fund Intelligence

MFI PDF June 2024 Issue

Largest Money Fund Managers

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The June 2024 issue of Money Fund Intelligence features: "Allspring, UBS, Dreyfus, DWS All File Plans to Leave Prime," which covers the continued exodus from Prime Institutional MMFs; "ICI 2024 Fact Book Shows Money Fund Trends in '23," which quotes from ICI’s annual compilation of fund statistics; and, “Money Funds Largest Buyers of T-Bills Says JPM; Berkshire," which looks at holders of Treasuries.

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 May 31, 2024. (MFI XLS contains percentile rankings, fund family rankings, MNAVs, WLA, portfolio composition, and more).

Excerpt from MFI XLS

About Crane Data LLC

origami crane

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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Jun 11
RIP Dreyfus'​s Louis Geser

We just learned that Louis Geser passed away recently after a long battle with pancreatic cancer. Geser was Director of Short Duration Credit Research at Dreyfus and BNY Mellon during the mid-00's. Our condolences to his family and all who knew Lou. (See the Obituary here.)

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May 05
In Memorium Dallas Ebel

We were shocked and saddened to learn of the sudden passing of Dallas Ebel recently. Ebel most worked for Ramirez Asset Management, and had previously been at BlackRock and Bank of America. Our deepest condolences to his family and friends. (See the Obituary here.)

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Apr 24
Birdthistle Out at SEC; Vij Greiner In

A press release tells us, "The Securities and Exchange Commission ... announced that William Birdthistle, the Director of the Division of Investment Management, will depart the agency.... Natasha Vij Greiner, currently the Deputy Director of the Division of Examinations, will be named Director of the Division of Investment Management."

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Crane Data News & Features

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European Money Fund Symposium 9/19-20/24

Thank you to those who supported our big Money Fund Symposium show in Pittsburgh! Mark your calendars for next year's event, which will be June 23-25, 2025 in Boston. Subscribers and attendees may access the recordings and conference materials in our MFS 2024 Download Center. We're making preparations for our next event, European Money Fund Symposium, which will be in London, Sept. 19-20, 2024, and for our Money Fund University, which will be in Providence, Dec. 19-20, 2024. Our next Bond Fund Symposium is scheduled for March 27-28, 2025 in Newport Beach, Calif. Watch for more details on future shows in coming months, and let us know if you'd like more information. We hope to see you in London in September, in Providence in December or in Newport Beach of Boston in 2025!