Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of Feb. 20, 2024 )
Institutional Money Funds 7-Day Yield%
Western Asset Prem Inst Liq Res Cap (WAAXX) 5.48
Allspring Heritage Select (WFJXX) 5.44
DWS ESG Liquidity Inst (ESGXX) 5.44
State Street Inst Liq Reserve Prem (SSIXX) 5.43
Federated Hermes Inst MM Mgmt IS (MMPXX) 5.41
Retail Money Funds 7-Day Yield%
Allspring MMF Prm (WMPXX) 5.43
UBS Prime Preferred Fund (UPPXX) 5.40
Morgan Stanley IL Liq MMP Wealth (MWMXX) 5.39
Invesco Premier Investor (IMRXX) 5.39
Federated Hermes Prime Cash Oblig WS (PCOXX) 5.39
Tax Exempt Money Funds 7-Day Yield%
Federated Hermes Muni Obligs WS (MOFXX) 3.54
Allspring Nat T-F Prem (WFNXX) 3.31
JPMorgan Municipal MM Inst (IJMXX) 3.28
Schwab Municipal MF Ultra (SWOXX) 3.25
Dreyfus AMT Free T-E Cash Mg In (DEIXX) 3.23

Money Market News

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The Securities and Exchange Commission's latest monthly "Money Market Fund Statistics" summary shows that total money fund assets jumped by $87.7 billion in January to a record $6.459 trillion. The SEC shows Prime MMFs rising $52.5 billion in January to $1.373 trillion, Govt & Treasury funds increasing $39.7 billion to $4.960 trillion and Tax Exempt funds decreasing $4.5 billion to $126.8 billion. Taxable yields inched lower in January after inching up in December. The SEC's Division of Investment Management summarizes monthly Form N-MFP data and includes asset totals and averages for yields, liquidity levels, WAMs, WALs, holdings, and other money market fund trends. We review their latest numbers below. (Month-to-date in February through 2/16, total money fund assets have decreased by $914 million to $6.393 trillion, according to our separate, and slightly smaller, MFI Daily series.)

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Inside Money Fund Intelligence

MFI PDF February 2024 Issue

Largest Money Fund Managers

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The February 2024 issue of Money Fund Intelligence features: "MMF Assets Jump in January; Hitting Record $​6.4 Trillion," which reviews the continued inflows into MMFs; "Federated Money Market Celebrates 50th; Q4 Earnings," which covers Federated Hermes' most recent earnings and their 50th year in MMFs; and, "BlackRock, Schwab Shed Light on MMF Shifts in Q4 Earnings," which reviews the latest earnings calls mentioning MMFs.

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 Jan. 31, 2024. (MFI XLS contains percentile rankings, fund family rankings, MNAVs, WLA, 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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Feb 01
SSGA Looking for Senior PM

State Street Global Advisors is seeking a Senior Portfolio Manager and Trader. Click here for details.

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Jan 29
Pope Retiring from Fidelity

Kerry Pope, Institutional Portfolio Manager at Fidelity Management & Research Co., is retiring. We thank him for his service and wish him well!

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Jan 16
Northern Looks for Liquidity Specialist

Northern Trust Asset Management is looking for a Senior Liquidity Specialist to "sell institutional liquidity investment products." Click here for more information.

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Crane Data News & Features

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Bond Fund Symposium Heads for Philly, 3/25-26

Start making plans for our next Bond Fund Symposium, which is March 25-26, 2024 in Philadelphia, Pa. Also, mark your calendars for our next big show, Money Fund Symposium, which will be held June 12-14, 2024, in Pittsburgh, Pa., and for our next European Money Fund Symposium, which will be held in London, Sept. 19-20, 2024. Also, thanks to those who attended attended our recent "basic training" event, Money Fund University, in Jersey City, NJ. Next year’s MFU will be held Dec. 19-20, 2024, in Providence, R.I. Conference recordings and materials are available at the bottom of our "Content" page. Watch for more details on upcoming shows in coming months, and let us know if you'd like more information on any of our shows. We hope to see you in Philadelphia in March, in Pittsburgh in June, in London in September or in Providence in December 2024!