The August issue of Crane Data'​s flagship Money Fund Intelligence was e-​mailed to subscribers this morning. The latest newsletter features the articles "Looking at Money Fund Portfolio Composition," "Federated'​s Ochson Debunks Muni Myths," and "Clearwater, DB Launch M-​Fund Transparency." MFI also includes the latest money fund news (​in more detail than the website), indexes, performance, and statistics.

The monthly "​Fund Profile" and manager interview features a discussion with Mary Jo Ochson, Senior portfolio manager and CIO of Federated Investors' Tax-​Exempt Money Market Group. Ochson tells MFI readers about the new money fund eligible variable-​rate demand preferreds (​VRDPs) being issued by closed-​end funds to retire auction-​rate preferred securities (​ARPS). She also addresses concerns over monoline insurers and discusses asset growth and other issues in the tax-​free money fund marketplace.

As of July 31, the Crane Money Fund Average, our broadest measure of taxable money fund performance including 885 funds, remained unchanged yielding (​7-​day simple) 1.​96%. The Crane 100 Index declined by 0.​03% to 2.​24% during July. The Crane Institutional MF Index fell 1 basis point to 2.​23%, the Crane Individual MF Index was unchanged at 1.​80%, and the Crane Tax-​Exempt MF Index jumped 0.​54% to 1.​82%.

Through July 31, 2008, the Crane 100 Index returned 0.​19% for one-​month, 0.​55% for 3 months, 1.​68% YTD, 3.​75% over 1-​year, 4.​31% over 3 years (​annualized), 3.​14% over 5 years, and 3.​50% over 10 years. Its average maturity rose by one day to 45 days. To request the latest issue of Money Fund Intelligence or Crane Index, e-​mail Pete Crane (​pete@​cranedata.​us).

The July issue of Crane Data'​s monthly Money Fund Intelligence newsletter is out and the XLS version is now available for download on the website. This month'​s MFI feature articles include: "Blow to NRSROs; MFs Brace for 2a-​7 Change," which discusses the proposed regulatory changes to money funds; "Safety in the West: TCW Money Market Fund," an interview with TCW portfolio manager Barr Segal; and, "Cachematrix Discusses Portal Technology."

MFI also contains a brief on whether "​A Rule 2a-​7 for Europe?" is likely, with comments from Institutional Money Market Funds Association Secretary General Nathan Douglas on the status of standardization and definition of the term "​money market fund" in Europe.

Every issue of Money Fund Intelligence features extensive performance statistics on over 1,​300 money funds, including 7-​day and 30-​day yields, 1-​month, 3-​mo, YTD, 1-​year, 3-​yr, 5-​yr and 10-​year returns, assets, expense ratios, average maturities, and more. We list rankings for 7-​day yields and 1-​year returns, and include a number of top-​performing and largest fund tables.

The publication also features our Crane Money Fund Indexes, as well as comprehensive news coverage of practically all the news impacting money market mutual funds. Call 508-​439-​4419 or write Pete (pete@​cranedata.​us) to see a sample issue.

The March 2008 issue of Crane Data'​s flagship Money Fund Intelligence is now available for download by subscribers. The latest newsletter features the articles: "Corporate Safety Thrust Benefiting Money Funds", which describes the huge shift in cash balances from active to passive investments; "Evergreen Perpetually Tops in Muni Money Market", a profile of the top-​ranked (​5-​year and 10-​year) Evergreen Institutional Municipal Money Market Fund; and, "Canadian Money Funds: Preparing for Takeoff?", a discussion of money funds in Canada. We also update subscribers on the latest SIV and support action news, as well as a number of personnel changes in the money fund industry. MFI is now 30 pages and tracks 1,​300 funds, representing 93% of all money market fund assets.

The lead article examines Treasury Strategies recent results showing a flight away from all liquidity and short-​term investment options save money funds and bank deposits/​sweep accounts. We also look at other recent statistics showing a massive shift away from complexity and direct market investment, which has powered the $​1 trillion cash buildup in money market funds over the past 52 weeks.

Our latest Money Fund Intelligence XLS, which contains data, rankings and percentiles by fund type, has also been posted to http://​www.​cranedata.​com. Our money "​Fund Family" asset rankings now show that No. 1-​ranked Fidelity Investments has surpassed $​400 billion in assets! The Boston-​based company increased its money fund totals by $​12.​8 billion in February and has increased by a stunning $​143.​2 billion, or 55%, over the past 12 months. To request a look at the latest copy, e-​mail us at: sales@​cranedata.​us.

Intelligence Interview: Marc Pfeffer and Milestone Treasury Obligations. The January 2008 issue of Money Fund Intelligence contains an interview with Milestone Capital Management'​s Chief Investment Officer and Portfolio Manager Marc Pfeffer. This month'​s MFI "​fund profile" focuses on Milestone Treasury Obligations and the flight to Treasury funds during the recent credit squeeze. Below, we excerpt a couple of the highlights. Pfeffer tells MFI, "Before this whole credit crunch, Treasury funds would under-​yield prime funds by between 5 and 10 basis points.... Now, you have spreads of 50-​100 basis points between Treasury funds and prime funds. People don'​t care about yield anymore, they just care about the safety." On Milestone'​s status as a women-​owned firm, Pfeffer says, "​It'​s a nice door opener. But at the end of the day, even if we receive some money because there is a woman- or minority-​owned initiative at a firm, if we didn'​t service our clients and didn'​t perform well for them we wouldn'​t keep that money."