Brokerage and Business Gains Driving MM Fund Asset Growth. Our new quarterly
Money Fund Intelligence Distribution Survey features
an analysis of market share gains and losses among the 30 largest money market fund advisors. The first quarter of 2007 showed money fund managers with exposure to the brokerage sector, such as
Fidelity and
Federated, as big winners, as well as
those fund companies that serve large corporations. Businesses continue
growing profits and cash, and continue to favor the safety, diversity, liquidity and yield of money funds in this flat yield curve environment.
Brokerage customers, meanwhile, continue fleeing lower-yielding "sweep" options in favor of 4% to 5% yields.