Crane Data Subscribers
Janus, Morgan Stanley, BGI, CS, Lehman, Putnam Top Ranked in '07. Crane Data's preliminary rankings for 2007 show that Janus Institutional Cash Management Inst will rank No. 1 among all taxable money market funds for calendar 2007 with a return of 5.35%. Morgan Stanley Inst Liquidity MMP Inst should place a close second with a 5.34% return, and four funds -- Barclays Inst MMF Inst, Credit Suisse Inst MMF Prime A, Lehman Brothers ILF MMP Inst, and Putnam Prime Money Market I -- all should return 5.33%, putting them in a tie for third place. Note that DWS Daily Assets Fund Institutional would have ranked No. 1 with a projected 5.40% return, but we didn't start tracking this previously-restricted fund until last month. Among individual, or "retail" funds, we project a three-way tie for No. 1 between DWS Cash Reserves Prime Series Inst, Fidelity Inst MM Port II, and Vanguard Prime MMF with returns of 5.14%. The average money market mutual fund, as measured by our Crane 100, returned 4.99% for 2007, the highest level since 2000's 6.18% return. The pending January issue of Money Fund Intelligence will feature full performance rankings for 2007, as well as our usual current yield rankings, where we will cite the official No. 1 ranked funds by category.
