MassMutual filed with the SEC to convert its $​450 million MassMutual Premier Money Market Fund from Prime to Government, we learned from mutual fund publication Fund Action. The filing says, "​At a meeting held on August 13-​14, 2015, the Board of Trustees of the MassMutual Premier Funds approved the following changes in response to amendments to Rule 2a-​7 under the Investment Company Act of 1940, as amended, which is the primary rule governing money market funds, including the Fund. The Prospectus and Summary Prospectus are being updated as described below to reflect that the Fund will operate as a "​government money market fund," as defined in the Amendments. The changes, all of which are effective on or about May 1, 2016, will bring the Fund into conformance with the requirements of the Amendments.... On or about May 1, 2016, the name of the Fund will be changed to the MassMutual Premier U.​S. Government Money Market Fund." In other news, Cavanal Hill posted details about its prime-​to-​government money market fund conversion plans, which we initially reported in our Dec. 22, 2015 News, "More Funds Jump on Prime to Govt Conversion Bandwagon; Mergers." Cavanal Hill'​s post says, "In response to the reforms, we have spent significant time reviewing the rules and listening to our investors' preferences and will be making certain changes, in advance of the deadline, as discussed below.... Many investors have indicated a preference for money market funds with a stable NAV that will not be subject to liquidity fees or redemption gates, which would restrict the use of the funds. As a result, the Board of Trustees for the Cavanal Hill Funds has approved the operation of each of its Money Market Funds as either government or retail and will continue to offer shares at a stable share price, without requiring liquidity fees or gates."

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