The August issue of Crane Data's Money Fund Intelligence was sent to subscribers Tuesday morning, along with our July 31, 2012 monthly performance data and rankings. Our Money Fund Intelligence XLS monthly spreadsheet, our Money Fund Wisdom database query website and our Crane Index money fund averages series were also released and updated. (The monthly Money Fund Portfolio Holdings with 7/31/12 data will be distributed on the 8th business day, August 10.) Our latest edition of MFI features the articles: "Still Waiting for Schapiro; Cash Remains King w/Corps," which discusses money fund reforms and corporate cash; "Nutter's Hunt on Regulations, Europe, Waivers," which interviews Rule 2a-7 attorney John Hunt; and, "Repo & Treasury Lead MM Supply Recovery," which reviews the recent stabilization in the supply of money market securities.
Our monthly "profile" on Hunt says, "John Hunt, a Partner in the Business Department at the law firm of Nutter McClennen & Fish LLP ... recently joined Nutter from his own firm McLaughlin & Hunt LLP, and specializes in Rule 2a-7 and offshore money market funds and other types of cash management products. (Hunt also will again lead the "Money Fund Regulations: 2a-7 Basics & History" session at Crane's Money Fund University, which will next be held Jan. 24-25, 2013, at The Roosevelt Hotel in New York.) We discuss recent regulatory and other issues in our Q&A below."
Hunt tells MFI, "The biggest challenge is answering the questions of what will be in the new money market regulations and when will they be proposed. The problems are that first, a number of government agencies are weighing in on potential money market regulations, each with a different approach to new regulation. Before, you just had to read the tea leaves coming from the SEC. Now, there is the President's Working Group, the Financial Stability Oversight Counsel, and the Federal Reserve Bank of Boston. Second, there seems to be a number of rumors of what could be in new regulations. All of this is increasing the anxiety of fund sponsors."
Our Supply update says, "While money market mutual fund distributors worry about regulatory changes and zero yields, money fund managers continue to fret mainly over the lack of product or supply. Though the money markets remain dramatically below their peak levels of early 2008, supply does appear to have stabilized."
The August MFI also contains monthly News, Indexes, top rankings and extensive performance tables. E-mail info@cranedata.com to request the latest issue. Subscriptions to Money Fund Intelligence are $500 a year and include web access to archived issues and fund "profiles". Additional users are $250 and bulk pricing and "site licenses" are available. Crane Data's other products include: Money Fund Intelligence XLS ($1K/yr), MFI Daily ($2K/yr), Money Fund Wisdom ($4K/yr), MFI International ($2K/yr), and Brokerage Sweep Intelligence ($1K/yr).
