| JPMorgan Prime MM Capital (CJPXX) | 3.85 |
| Morgan Stanley Inst Liq Prime MMP Inst (MPFXX) | 3.83 |
| BlackRock Lq TempCash Inst (TMCXX) | 3.83 |
| Federated Hermes Inst Prime Obligs IS (POIXX) | 3.83 |
| Western Asset Prem Inst Liq Res Capital (WAAXX) | 3.77 |
| Allspring MMF Prm (WMPXX) | 3.87 |
| Invesco Premier Institutional (IPPXX) | 3.87 |
| Morgan Stanley IL Liq MMP Wealth (MWMXX) | 3.84 |
| UBS Prime Preferred Fund (UPPXX) | 3.82 |
| Goldman Sachs Investor MM Inst (FMJXX) | 3.82 |
| Federated Hermes Muni Obligs WS (MOFXX) | 2.83 |
| Vanguard Municipal MMF (VMSXX) | 2.78 |
| JPMorgan Municipal MM Inst (IJMXX) | 2.75 |
| Western Asset Select Tax Free Res Sel (CIFXX) | 2.75 |
| Allspring Nat T-F Prem (WFNXX) | 2.71 |
Money Market News
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Dramatic asset growth was again the biggest story of the year, as money market fund assets jumped by $850 billion to a record $8.07 trillion (through 12/11), after jumping by $800 billion last year and over $1.0 trillion the year before. In 2023, rising yields were the big news, but yields have moved lower in 2024 and 2025. Yields continue declining; they are now approaching 3.60%. So declining but still attractive yields were a big theme of 2025. Other major headlines of 2025 included: the growth of tokenized money market funds, stablecoin reserve funds and money fund ETFs. Below, we excerpt from a number of our biggest and most representative news stories of 2025 to highlight the major trends of the past year. (Note: For those attending our Money Fund University this week, welcome to Pittsburgh! Clients and friends are welcome to stop by Crane Data's Holiday Cocktail Party at MFU at the Pittsburgh Westin on Thursday, 12/18 from 5-7:30pm! Attendees and subscribers may access the conference materials via our "Money Fund University 2025 Download Center.")
Inside Money Fund Intelligence
MFI PDF December 2025 Issue |
Largest Money Fund Managers |
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 The December 2025 issue of Money Fund Intelligence features: “Money Fund Assets Break $8.0 Trillion; Top 10 Stories of 2025,” which discusses money market mutual funds reaching all-time highs; “J.P. Morgan’s 2026 Outlook: Still Room for MM Growth,” which quotes from JPM’s expectations for next year; and, “State Street I.M. Files for Stablecoin Reserves MMF,” which highlights the latest money fund filing. 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. |
 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 Nov. 30, 2025. (MFI XLS contains percentile rankings, fund family rankings, MNAVs, WLA, portfolio composition, and more). 
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About Crane Data LLC
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.
Link of the Day
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Dec 18
Fed Publishes History of Money Funds
The Federal Reserve published a "History" piece on "Money Market Mutual Funds," which gives a nice basics and brief overview of the asset class. They write, "Money market mutual funds (MMMFs) arose in the 1970s. At the time, market interest rates were higher than the rates that commercial banks were ...
People
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Dec 09
Thrivent Seeks Portfolio Manager
Thrivent is seeking a Senior Money Market Portfolio Manager in Minneapolis. The posting says, "The Money Market Portfolio Manager is responsible for the management of the organization’s 2(a)7 mutual funds and the overall management of the organization’s cash holdings across multiple accounts and portfolios."
Dec 03
Deutsche Hires Cassie von Sprecher
"Deutsche Hires von Sprecher" says a brief in the Securities Finance Times. It explains, "Deutsche Bank has appointed Cassandra von Sprecher as global head of agency securities lending sales." She was formerly with State Street and formerly Casandra (Cassie) Jones.
Oct 27
Berretta Joins Treasury Curve
"Treasury Curve Appoints Fred Berretta as Vice President of Partnerships to Accelerate Channel Growth," says a press release.
Crane Data News & Features
contact us »Money Fund University in Pittsburgh, 12/18-19
Thank you to those who attended and supported our recent European Money Fund Symposium in Dublin! Mark your calendars for next year’s show, which will be in Paris, Sept. 24-25, 2026. We’re now gearing up for our “basic training” event, Money Fund University, which is scheduled for Dec. 18-19 in Pittsburgh. Mark your calendars too for our next Bond Fund Symposium, which is March 19-20, 2026, in Boston, and for our next big show, Money Fund Symposium, which is June 24-26, 2026 in Jersey City, NJ. Subscribers and attendees may access the recordings and conference materials (except for European MFS) via our "Content" page. Contact us and let us know if you'd like more information on any future (or past) shows. We hope to see you in Pittsburgh in December, or in Boston, Jersey City or Paris in 2026!