Today's ignites.com includes the story "Gov't Money Funds Ditch Treasury Guarantee", which features a table of Crane Data info showing which types funds are participating in the latest extension of the U.S. Treasury Temporary Guarantee Program for Money Funds.
The article says, "Like Fidelity, about half of the largest money fund managers have now decided not to guarantee their government funds, says Peter Crane, CEO and president of Crane Data, which tracks money market funds. That includes Dreyfus, Schwab and Vanguard. On the other hand, Federated, Wells Fargo and Morgan Stanley are among the groups that have elected to continue the guarantee on their government funds. Morgan Stanley seems to be the lone group also renewing the guarantee on its Treasury funds."
It adds, "The Treasury announced at the end of March that it was extending the guarantee program once again -- this time until Sept. 18. It does not have the authority to extend it beyond that date. This time around, fund firms have weighed multiple factors in determining whether to renew the guarantee for government and Treasury funds, say Swirsky and Crane."
See Crane Data's previous stories: "Largest Money Funds All Renew Treasury Guarantee for Prime Funds", "Fidelity, Federated, AIM Renew Treasury Guarantee; Drop Govt Funds?", "Treasury Money Funds, Most Govt, Dropping Temporary Guarantees".
Here is the most recent list of links to notification letters: Fidelity Investments; JPMorgan; Federated Investors; BlackRock; Dreyfus; Goldman Sachs; Schwab; Vanguard; Columbia; Wells Fargo; Western (Legg Mason/Citi); Northern; Invesco AIM; DWS; Morgan Stanley; First American; Evergreen; SSgA Funds; Barclays; RidgeWorth; T. Rowe Price; and American Century. The only company to decline to renew coverage to date is Credit Suisse, which is liquidating its money funds (see filing) and which has already lost the majority of its assets.
E-mail pete@cranedata.us to request the most recent version of Crane Data's Treasury Guarantee Extension Participation Excel table.
