The November issue of Crane Data's flagship Money Fund Intelligence newsletter, which was e-mailed to subscribers Friday morning, contains the articles, "PWG Report Discounts Radical Reform Options," which reviews the MMF Reform Options Report and feedback to date; "Still Loving Liquidity: Invesco Cash Turns 30," our monthly fund manager interview; and "Guzman to Launch MF Portal; More AFP News," which features a new entrant in the online money market fund trading "portal" marketplace. The issue also includes News on fee waivers, DWS's Variable NAV Money Fund, recent CFTC proposals, the new class of ultra-short money funds, and more.
We also have updated our Money Fund Wisdom database software and our MFI XLS performance rankings spreadsheet. Our latest monthly data and Crane Indexes show that yields and assets both declined slightly during October. Both our MFI and MFI XLS products have added WAL, or weighted average life, to our data tables this month, and we continue to expand our collection of liquidity information and portfolio holdings.
Our lead piece says, "The U.S. Treasury finally released its 'Report of the President's Working Group on Financial Markets: Money Market Fund Reform Options,' which briefly explores 7 possible paths regulators may take to decrease systematic risk. While the report doesn't endorse any option, it appears to discount the possibility of a floating NAV and to support the concept of a private liquidity facility." We cite comments and feedback from industry participants and observers to date, most of which are favorable towards the report.
MFI also profiles Invesco, which is commemorating its 30th anniversary in the cash management business. Its STIC Prime Fund was launched on Nov. 18, 1980, and it remains one of the industry's largest institutional money market funds. The company, which manages over $69 billion in 'cash' assets, has since expanded its lineup to 19 money funds in four currencies. We discuss the investment manager's current efforts, and we look back at money fund history with Karen Dunn Kelley, CEO of Invesco Fixed Income, Lyman Missimer, Head of Global Cash Management and Municipals, Tony Wong, Head of Short-Term Investment Grade Credit Research, and Bill Hoppe, Executive VP of Invesco Distributors.
Finally, starting Sunday, thousands of corporate treasurers will gather in San Antonio for the Association of Financial Professionals annual conference. Many of the largest institutional money fund managers will be exhibiting, and several online money market trading 'portals' and technology companies will be announcing new products or features. Among these is the first new entrant to the portal market in years, Guzman & Company's TreasuryHelm. We review these and more in the November issue.
Note that Crane Data will be exhibiting at AFP, which is November 7-10 in San Antonio. Our Peter Crane will present along with The Mosaic Company's Ken Bodell on "Money Market Mutual Funds & Cash Investments: Doing More Due Diligence" on Tuesday morning, Nov. 9 at 10:30am. (E-mail Diana to request a copy of our Powerpoint slides.) Stop by Booth #1313 to say "Hello" if you're at the show!
