The July issue of Money Fund Intelligence, Crane Data's monthly newsletter, gets e-mailed to clients this morning, along with our monthly performance statistics, rankings and Crane Money Fund Indexes. This month's edition features the stories, "Deposits Gain on MMFs, But Liquidity Still Rising," "Big Leagues of Cash: BNY Mellon's CIS," and "ABCP & Repo Conduits: A Q&A w/Doug Rivkin."
The lead article says, "Bank deposits continue to gain assets from money market mutual funds, according to recent surveys and data series. But two things are clear from this recent information -- money funds and bank deposits are the only significant competitors for institutions' 'cash,' and, investors continue to increase their cash holdings overall. This growing wave of liquidity bodes well for future money fund asset growth, especially as bank products reach capacity and lose their temporary yield advantage." The piece shows tables of recent money fund vs. bank deposit growth, and features a table of investment allocations from the AFP's recently released Liquidity Survey.
For our regular monthly fund company feature, MFI says, "`This month we profile the Dreyfus money funds and interview several veteran members of BNY Mellon's new Cash Investment Strategies unit, one of the world's largest. We speak with Charles Cardona, President of The Dreyfus Corporation and BNY Mellon Cash Investment Strategies, Patricia Larkin, Chief Investment Officer of CIS for the Taxable 2a-7 and Tax-Exempt Money Funds, and Louis Geser, Director of Short Duration Credit Research."
Finally, in our last article, "We discuss one emerging investment, Repo Conduits, with fixed-income analyst Doug Rivkin.... He explains why these instruments may offer a viable avenue for investor diversification."
Look for excerpts of these articles in the coming days, and let us know if you'd like to see a demo copy of our MFI newsletter. MFI is $500 a year; $1,000 with its Excel "complement," MFI XLS. It comes with web access to archived issues and additional features, such as expanded 'Fund Profiles'.
