Crane Adds $195 Billion to MFI Daily
Subscribers to Crane Data's Money Fund Intelligence Daily product may notice a huge jump in money fund assets this morning. Please note that the vast majority of the gains are due to the addition of $195 billion in previously untracked funds. The majority of the increase is due to the addition of one fund, the $111 billion American Funds Central Cash Fund. (See our Nov. 16, 2018 News, "American Funds Files for Internal Money Fund, Capital Group Central Cash.") The latest MFI Daily file, with data as of Thursday, August 22, contains 24 new funds with assets totaling $194.5 billion. So there was not a massive jump in MMF assets yesterday. Over the past several years, following October 2016 when the SEC began disclosing money fund information via its "Form N-MFP" data set in a timely manner, we've added batches of money funds that we hadn't previously tracked to our collections. A number of these funds are internal or private funds, but they are all "2a-7" money market funds. It's been over a year since we added a major batch of new funds, but we wanted to get our last large block added and over with. Note also that these funds are all already included in our monthly MFI XLS product. We apologize for the disruption in the asset series and any inconvenience this may cause, and we list the largest of these new funds below. Funds added to MFI Daily this morning include: American Funds Central Cash M (CMQXX with $110.9 billion), PGIM Inst Money Market Fund (PRU01, $18.4B), T Rowe Price Govt Reserve Fund (TRP01, $16.2B), Northern Trust AM Treas Assets Fund (NOR01, $8.0B), TIAA CREF Money Market Account R3 (TIA01, $5.1B), UBS Limited Purpose Cash Inv Fund (UBS03, $5.0B), T Rowe Price Treas Reserve Fund (TRP02, $4.2B), JPMorgan Sec Lending MM Agency SL (VSLXX, $3.5B), Principal Government MM Inst (PGVXX, $3.4B), TIAA CREF Money Market Account R2 (TIA02, $2.9B) and Fidelity VIP Govt Money Market Initial (FID07, $2.3B). Note once again that this only impacts our MFI Daily; our MFI, MFI XLS and MF Portfolio Holdings data collections already include these funds. For more on the addition of funds to our collections and "internal" money market funds, see our July 17, 2018 Link of the Day, "More Funds Added to MFI Daily," and our Jan. 5, 2017 News, "Internal and Private Money Funds Revealed.")
