The vast majority money market mutual fund managers have now applied for the U.S. Treasury Department's new Money Market Fund Temporary Guaranty Program. Crane Data estimates that 70% of the $3.4 trillion in money fund assets are now covered by the program. (The numbers would be higher, but some are choosing not to insure their Government or Treasury funds.) For more on the details, click on the following links (and see the fund list below): Treasury Announces Guaranty Program for Money Market Funds, Treasury Provides Clarity For Money Market Funds Guaranty Program, Treasury Opens Money Market Funds Guarantee Program, FAQ: Treasury's Money Market Funds Guarantee Program, ICI's "Frequently Asked Questions about the Treasury's Guarantee Plan for Money Market Mutual Funds", and ICI and IDC Webinar regarding the Treasury's Temporary Guarantee Program for Money Market Funds. For the application and details for signing up, visit the "Treasury's Temporary Guarantee Program for Money Market Funds" page. Of course, see also Crane Data's previous News and Link of the Day pages, and see the upcoming October issue of Money Fund Intelligence for more details.
Here is the latest list of money fund families that have applied for the Treasury's Temporary Money Fund Guarantee Program:: Allegiant, Alpine, American Beacon, American Performance, Barclays, BlackRock, Calvert, CNI Charter, Columbia, Deutsche Asset Management, Dreyfus, Evergreen, Federated, First American, Flex-Funds, Fortis (Aston/ABN Amro), Goldman Sachs, Invesco AIM, Janus, JPMorgan, Legg Mason (Western Asset), Morgan Stanley, Munder, Neuberger Berman (Lehman Brothers), Northern, PNC, Putnam, Reich & Tang, Schwab, SSgA, State Street Inst, TCW, UBS, Victory, Virtus (formerly Phoenix Insight), and Wilmington Trust. Fund companies planning on joining with pending announcements include: HSBC and Wells Fargo. Fund families still considering but not signed up so far include Credit Suisse, Fidelity, Nationwide, and Vanguard.
