A press release titled, "Janus Henderson Offers Money Market Fund to Support the American Cancer Society," states, "Janus Henderson ... and the American Cancer Society (ACS) ... announced an innovative partnership to support cancer research, advocacy, and patient support. Through this pioneering initiative, Janus Henderson will donate an amount equal to half of its management fees for all assets under management from Janus Henderson's Government Money Market Fund to ACS. Janus Henderson has committed to donating a minimum of $1 million per year to ACS for the next three years through this innovative partnership to support the fight against cancer." (Note too: We look forward to seeing some of you tomorrow at our European Money Fund Symposium, which is Sept. 19-20, 2024 in London, England!)
Ali Dibadj, CEO of Janus Henderson comments, "We are honored to support the American Cancer Society, and it's our sincere hope this partnership will help create a brighter future for many. Among cancer's many impacts, the financial burden of a diagnosis can be devastating. Through this initiative, Janus Henderson and our clients can now easily support ACS' critical work in advocacy, research, and patient support, helping to improve the lives of both cancer patients and their families."
The release explains, "Cancer is still the second leading cause of death worldwide, and this year the annual ACS Cancer Facts & Figures report projects that the number of new cancer diagnoses in the United States will top two million. For many, access to quality care is not uniformly accessible and once diagnosed many may experience financial hardship. This initiative is a novel fundraising mechanism for ACS, a 501(c)(3) charity."
Dr. Karen Knudsen, CEO of the American Cancer Society adds, "Together with Janus Henderson, we are supporting cancer patients and families across the cancer continuum by partnering in this innovative fundraising method. Their generous support will increase our ability to fund groundbreaking research, advocate for better access to care at the federal and local levels, and provide direct patient support to help us end cancer as we know it, for everyone."
The release continues, "Janus Henderson's Government Money Market Fund is an actively managed money market fund with a nearly 30-year track record. The Fund focuses on capital preservation and daily liquidity by investing exclusively in obligations issued or guaranteed by the U.S. Government or its agencies and cash. The Fund is available to investors through two share classes: American Cancer Society Support - Class D Shares (ACDXX), which are available directly to individual investors in the U.S. through Janus Henderson's Direct channel, and American Cancer Society Support - Class T Shares (ACTXX), which are available through select intermediaries."
For more news in the ESG & Social MMF space, see these Crane Data News stories, "SustainableInvest.com on ESG MMFs" (7/10/24), "Dreyfus Debuts BOLD Future Retail MF" (6/12/24), "BlackRock Liquidates TempFund, LEAF" (6/10/24), "Ramirez Govt MMF Partners w/Hispanic Fund; JPM: T-Bills to Go Bigger" (6/4/24), "DWS Liquidating ESG Liquidity Fund, 7th Prime Inst to Exit; MM Basics" (5/22/24), "UBS Latest to Abandon ESG Money Funds; JNL Liquidates Money Fund" (10/13/23) and "Morgan Stanley Latest to Abandon ESG MMFs; Weekly, ICI Portfolio Holds" (8/16/23).
In other news, Crane Data published its latest Weekly Money Fund Portfolio Holdings statistics Tuesday, which track a shifting subset of our monthly Portfolio Holdings collection. The most recent cut (with data as of Sept. 13) includes Holdings information from 47 money funds (down 2 from two weeks ago), or $2.591 trillion (up from $2.509 trillion) of the $6.635 trillion in total money fund assets (or 39.1%) tracked by Crane Data. (Our Weekly MFPH are e-mail only and aren't available on the website. See our latest Monthly Money Fund Portfolio Holdings here and our Sept. 12 News, "September Money Fund Portfolio Holdings: Treasuries Jump; Repo Slides.")
Our latest Weekly MFPH Composition summary shows Government assets dominating the holdings list with Treasuries totaling $1.113 trillion (down from $1.131 trillion two weeks ago), or 43.0%; Repurchase Agreements (Repo) totaling $1.011 trillion (up from $956.4 billion two weeks ago), or 39.0%, and Government Agency securities totaling $229.4 billion (up from $228.8 billion), or 8.9%. Commercial Paper (CP) totaled $81.5 billion (up from two weeks ago at $62.5 billion), or 3.1%. Certificates of Deposit (CDs) totaled $48.7 billion (up from $48.3 billion two weeks ago), or 1.9%. The Other category accounted for $85.1 billion or 3.3%, while VRDNs accounted for $21.9 billion, or 0.8%.
The Ten Largest Issuers in our Weekly Holdings product include: the US Treasury with $1.120 trillion (43.2% of total holdings), Fixed Income Clearing Corp with $259.7B (10.0%), the Federal Home Loan Bank with $165.3 billion (6.4%), JP Morgan with $82.5B (3.2%), Citi with $70.9B (2.7%), BNP Paribas with $69.9B (2.7%), the Federal Reserve Bank of New York with $58.8B (2.3%), RBC with $52.6B (2.0%), Federal Farm Credit Bank with $52.6B (2.0%) and Goldman Sachs with $50.2B (1.9%).
The Ten Largest Funds tracked in our latest Weekly include: JPMorgan US Govt MM ($262.8B), Goldman Sachs FS Govt ($237.6B), Fidelity Inv MM: Govt Port ($227.7B), JPMorgan 100% US Treas MMkt ($207.8B), Morgan Stanley Inst Liq Govt ($139.2B), State Street Inst US Govt ($137.4B), Fidelity Inv MM: MM Port ($137.2B), Dreyfus Govt Cash Mgmt ($124.9B), Goldman Sachs FS Treas Instruments ($95.8B) and First American Govt Oblg ($95.2B). (Let us know if you'd like to see our latest domestic U.S. and/or "offshore" Weekly Portfolio Holdings collection and summary.)
Finally, ICI released its latest monthly "Money Market Fund Holdings" summary, which reviews the aggregate daily and weekly liquid assets, regional exposure, and maturities (WAM and WAL) for Prime and Government money market funds. This release says, "The Investment Company Institute (ICI) reports that, as of the final Friday in August, prime money market funds held 46.5 percent of their portfolios in daily liquid assets and 63.6 percent in weekly liquid assets, while government money market funds held 77.9 percent of their portfolios in daily liquid assets and 87.7 percent in weekly liquid assets." Prime DLA was up from 45.3% in June, and Prime WLA was up from 62.9%. Govt MMFs' DLA rose from 77.5% and Govt WLA decreased from 88.4% the previous month.
ICI explains, "At the end of August, prime funds had a weighted average maturity (WAM) of 28 days and a weighted average life (WAL) of 47 days. Average WAMs and WALs are asset-weighted. Government money market funds had a WAM of 34 days and a WAL of 83 days." Prime WAMs were unchanged and WALs were 1 day longer from the previous month. Govt WAMs were 1 day shorter and WALs were unchanged from July.
Regarding Holdings by Region of Issuer, the release tells us, "Prime money market funds' holdings attributable to the Americas declined from $510.50 billion in July to $486.79 billion in August. Government money market funds' holdings attributable to the Americas rose from $4,476.07 billion in July to $4,618.30 billion in August." The Prime Money Market Funds by Region of Issuer table shows Americas-related holdings at $486.8 billion, or 47.2%; Asia and Pacific at $193.7 billion, or 18.8%; Europe at $331.1 billion, or 32.1%; and, Other (including Supranational) at $20.5 billion, or 2.1%. The Government Money Market Funds by Region of Issuer table shows Americas at $4.618 trillion, or 90.0%; Asia and Pacific at $136.6 billion, or 2.7%; Europe at $365.0 billion, 7.1%, and Other (Including Supranational) at $11.8 billion, or 0.2%.
