Each month, Crane Data's Money Fund Intelligence lists the top-performing money market mutual funds in a number of categories ranked by 1-year return (and ranked by latest 7-day yield). The January issue also highlights the awarding of our No. 1 and No. 2 rankings for 2008 in our nine major money fund categories ("Types") -- Prime Institutional, Government Institutional, Treasury Institutional, Prime Individual, Government Individual, Treasury Individual, Tax-Exempt Institutional, Tax-Exempt Individual and State Individual. (Note that the "Rank" numbers in our MFI Fund Listings and in our free web "profiles" (under "Resources", "Browse Funds") refer to the rank within a fund's category.)
The top-performing money market mutual fund (and No. 1 Prime Institutional fund) in 2008 was Touchstone Institutional Money Market Fund (TINXX) with a return of 3.42%. The No. 2-ranked fund among 218 Prime Inst funds was Oppenheimer Institutional Money Market E (IOEXX), which returned 3.14%. Among 235 Prime Individual (retail) money funds, Fidelity Select MM Portfolio (FSLXX) took the No. 1 spot with a return of 2.97%. Touchstone Money Market Fd A (TMMXX) ranked No. 2 with a return of 2.94%.
The highest-yielding Government Institutional fund in 2008 was Accessor US Government Money Market Inst (ANIXX) with a 2.56% return. Federated Govt Oblig Tax Man IS (GOTXX) ranked No. 2 among 117 Govt Inst funds with a return of 2.52%. Vanguard Federal Money Market Fund (VMFXX), ranked first among 108 Government Individual funds with a 2.53% return, while Fidelity US Govt Reserves (FGRXX) ranked second with a 2.45% return.
Vanguard Admiral Treasury Money Market (VUSXX) placed first among Treasury Institutional funds, while Milestone Treasury Obligs Fin (MIL01) placed second among 102 funds. Vanguard Treasury MMF (VMPXX) ranked No. 1 among 103 Treasury Individual funds with a return of 1.97, and Pioneer Treasury Reserves A (ITAXX) placed second with a return of 1.62%.
Among Tax-Exempt money market mutual funds, Alpine Municipal MMF Y (AMUXX) returned 2.67% in 2008, placing it first among 121 Tax-Exempt Individual money market mutual funds, while USAA Tax Exempt MMF (USEXX) ranked No. 2. Neuberger Berman Tax-Fr MF Reserve (LBTXX) placed first among 85 Tax-Exempt Institutional money funds with a return of 2.61% and Marshall Tax-Free MMF I (MFIXX) placed second. Dreyfus Basic NJ Muni MMF (DBJXX) ranked No. 1 among 235 State Tax-Exempt money funds while USAA Tax Exempt CA MMF (UCAXX) ranked No. 2.
See the January issue of our Money Fund Intelligence XLS for more detailed listings and rankings. (To request a copy, e-mail brandon@cranedata.us.)
