| BlackRock Lq TempCash Inst (TMCXX) | 4.01 |
| Morgan Stanley Inst Liq Prime MMP Inst (MPFXX) | 4.00 |
| JPMorgan Prime MM Capital (CJPXX) | 3.99 |
| Federated Hermes Inst Prime Obligs IS (POIXX) | 3.98 |
| Western Asset Prem Inst Liq Res Capital (WAAXX) | 3.93 |
| Morgan Stanley IL Liq MMP Wealth (MWMXX) | 4.01 |
| Invesco Premier Institutional (IPPXX) | 4.01 |
| UBS Prime Preferred Fund (UPPXX) | 4.00 |
| Allspring MMF Prm (WMPXX) | 4.00 |
| Schwab Prime Adv MF Ultra (SNAXX) | 3.98 |
| Federated Hermes Muni Obligs WS (MOFXX) | 2.83 |
| Vanguard Municipal MMF (VMSXX) | 2.74 |
| JPMorgan Municipal MM Inst (IJMXX) | 2.73 |
| Allspring Nat T-F Prem (WFNXX) | 2.72 |
| Fidelity Inv MM: Tax Exempt I (FTCXX) | 2.69 |
Money Market News
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Crane Data's latest monthly Money Fund Market Share rankings show assets sharply higher among the largest U.S. money fund complexes in November, after also jumping in October. Assets have increased in 16 of the past 17 months (only April 2025 saw declines). Money market fund assets rose by $129.2 billion, or 1.6%, last month to a record $7.984 trillion. Total MMF assets have increased by $376.8 billion, or 5.0%, over the past 3 months, and they've increased by $915.6 billion, or 13.0%, over the past 12 months. The largest increases among the 25 largest managers last month were seen by SSIM, Morgan Stanley, Vanguard, JPMorgan and Fidelity, which grew assets by $40.9 billion, $22.8B, $21.6B, $19.2B and $11.2B, respectively. Declines in November were seen by Invesco, RBC, Western, Goldman Sachs and AllianceBernstein, which decreased by $11.5 billion, $6.9B, $5.8B, $4.2B and $2.6B, respectively. Our domestic U.S. "Family" rankings are available in our MFI XLS product, our global rankings are available in our MFI International product. The combined "Family & Global Rankings" are available to Money Fund Wisdom subscribers. We review the latest market share totals, and look at money fund yields, which were lower in November.
Inside Money Fund Intelligence
MFI PDF December 2025 Issue |
Largest Money Fund Managers |
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 The December 2025 issue of Money Fund Intelligence features: “Money Fund Assets Break $8.0 Trillion; Top 10 Stories of 2025,” which discusses money market mutual funds reaching all-time highs; “J.P. Morgan’s 2026 Outlook: Still Room for MM Growth,” which quotes from JPM’s expectations for next year; and, “State Street I.M. Files for Stablecoin Reserves MMF,” which highlights the latest money fund filing. Each monthly issue of Money Fund Intelligence features news, performance information and rankings on money market mutual funds. Statistics include: assets, weighted average maturity, weighted average life, expense ratio, 7-day yield, 30-day yield, 1-year, 3-yr, 5-yr, 10-yr, and since inception return, as well as 7- and 30-day gross yields. MFI also contains tables of the top-yielding and the largest money funds, and our benchmark Crane Money Fund Indexes. Subscriptions are $500 a year, and include online access to archived issues and additional features. Bulk discounts and site licenses are available. Write info@cranedata.com or call 1-508-439-4419 to subscribe or to request more information. |
 The table below is excerpted from our monthly spreadsheet product, Money Fund Intelligence XLS. It shows the largest money market mutual fund managers as of Nov. 30, 2025. (MFI XLS contains percentile rankings, fund family rankings, MNAVs, WLA, portfolio composition, and more). 
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About Crane Data LLC
Crane Data is a money market and mutual fund information company founded by Peter G. Crane and Shaun Cutts. We collect money market mutual fund, bank savings, and cash investment performance, statistics, and information and distribute rankings, news, and indexes.
Crane Data publishes Money Fund Intelligence, Money Fund Intelligence XLS, Money Fund Wisdom, the Crane Money Fund Indexes, and a series of products tracking money markets, mutual funds and cash investments. We also produce conferences, including Crane's Money Fund Symposium. For more information and samples, e-mail info@cranedata.com or call us at 1-508-439-4419.
Link of the Day
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Dec 06
OFR's "Sizing the U.S. Repo Market"
The U.S. Treasury's Office of Financial Research published a brief titled, "Sizing the U.S. Repo Market, which states, "According to new data collected by the OFR, the U.S. repurchase agreement (repo) market averaged about $12.6 trillion in daily exposures in Q3 2025, a number that ...
People
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Dec 03
Deutsche Hires Cassie von Sprecher
"Deutsche Hires von Sprecher" says a brief in the Securities Finance Times. It explains, "Deutsche Bank has appointed Cassandra von Sprecher as global head of agency securities lending sales." She was formerly with State Street and formerly Casandra (Cassie) Jones.
Oct 27
Berretta Joins Treasury Curve
"Treasury Curve Appoints Fred Berretta as Vice President of Partnerships to Accelerate Channel Growth," says a press release.
Sep 22
Paxos Seeks Business Development
Paxos, which runs the stablecoin PYUSD for Paypal, is seeking a Senior Manager, Business Development. See here for details.
Crane Data News & Features
contact us »Money Fund University in Pittsburgh, 12/18-19
Thank you to those who attended and supported our recent European Money Fund Symposium in Dublin! Mark your calendars for next year’s show, which will be in Paris, Sept. 24-25, 2026. We’re now gearing up for our “basic training” event, Money Fund University, which is scheduled for Dec. 18-19 in Pittsburgh. Mark your calendars too for our next Bond Fund Symposium, which is March 19-20, 2026, in Boston, and for our next big show, Money Fund Symposium, which is June 24-26, 2026 in Jersey City, NJ. Subscribers and attendees may access the recordings and conference materials (except for European MFS) via our "Content" page. Contact us and let us know if you'd like more information on any future (or past) shows. We hope to see you in Pittsburgh in December, or in Boston, Jersey City or Paris in 2026!