The July 2009 issue of Crane Data's flagship Money Fund Intelligence newsletter features the articles: "SEC Proposes Money Market Fund Reforms," which discusses the likely changes in Rule 2a-7; "Q&A With Fifth Third Port Mgr John Hoeting," which interviews the manager of the 30th largest money fund complex; and "Case Study in Cash: Janney's Brokerage Sweep," which discusses FDIC-insured sweep accounts and includes quotes from Janney Montgomery Scott's Eric Edstrom. Look for excerpts from the latest issue, which went to subscribers last Wednesday, in the coming week on http://www.cranedata.com.
Our article on money funds reforms says, "The eagerly anticipated changes to money market mutual fund regulations arrived last week with the publication of the SEC's 'Money Market Fund Reforms' proposal. While many fund managers, money market participants, and investors will undoubtedly take issue with pieces of the Commission's work, we expect the overall reaction to be positive ... and accompanied by a huge sigh of relief. We give kudos to the SEC for their comprehensive and thoughtful document."
MFI continues, "We do have some issues, though, and will be posting our thoughts in the near future. We encourage readers to voice their opinions, and we will keep you updated on feedback via www.cranedata.com. Comments on the proposal must be received by Sept. 8, 2009, and should be e-mailed to rule-comments@sec.gov (include File Number S7-11-09) or posted via www.sec.gov/rules/proposed.shtml.
Every issue of Money Fund Intelligence features news, indexes, and performance information on over 1,300 money market mutual funds. Statistics include: assets, average maturity, expense ratio, 7-day yield, 30-day yield, 1-month return, 3-mo, YTD, 1-year, 3-yr, 5-yr, 10-yr and since inception returns. MFI also contains tables of the top-yielding and largest money funds, top-yielding bank deposits, brokerage sweep rates, and our benchmark Crane Money Fund Indexes.
