Press Releases Archives: October, 2011

The Final Full Agenda has been set for January's 2nd annual Crane's Money Fund University. We've also recently added sponsors G.X. Clarke and Fidelity Investments. The updated agenda is now posted on the conference website (; it includes new sessions on Fund Operations and The Board's Role, Regulations, Interpretations and Recent Changes. Crane's Money Fund University, an affordable and comprehensive two day, "basic training" course on money market mutual funds, will he held January 19-20, 2012, at The Hyatt Regency Boston. Last year's inaugural University attracted over 100 speakers, sponsors and attendees, and we expect even a stronger showing this coming year. MFU covers the history of money funds, interest rates, Rule 2a-7, ratings, rankings, money market instruments such as commercial paper and repo, and portfolio construction and credit analysis. (Click here for the full agenda.) New portfolio managers, analysts, investors, issuers, service providers, and anyone interested in expanding their knowledge of "cash" investing should benefit from our comprehensive program. Even experienced professionals should enjoy a refresher course and the opportunity to interact with peers in an informal setting. Attendee registration for Crane's Money Fund University is $500. Exhibit space is $2,000 and sponsorship opportunities are $3K, $4.5K, and $5K. E-mail Pete to request the latest conference brochure. Also, our 4th annual Crane's Money Fund Symposium, Crane Data's larger flagship money market mutual fund event, is scheduled for June 20-22, 2012, in Pittsburgh, Pa. (Look for the preliminary agenda to be released soon on Finally, we're also seeking feedback, speakers and sponsors for a European Money Fund Symposium, which is tentatively scheduled for September 2012.

The Association for Financial Professionals, which was formerly known as the Treasury Management Association, will host its Annual Conference in Boston, on November 6-9. Dozens of money market mutual fund providers and portals will exhibit, and over 5,000 attendees, primarily corporate treasurers, financial professionals and bankers, will attend. There are several sessions involving money market mutual funds and cash investing, including: "Under the Cash Hood: Looking Beyond Yield at Money Market Mutual Fund Holdings" by Crane Data's Peter Crane and Genzyme's Coleman Nee, Jr.; "Evaluating Risk in Money Market Funds" with BofA Funds' Dale Albright; "The Role of Commercial Paper in Short Term Markets: An Essential Source of Financing and Investing" with JPMorgan's John Kodweis; and, "How to Conduct a Due Diligence Meeting with a Money Market Fund Complex" with Morgan Stanley's Michael Cha. Note that the full agenda is now posted and registration is open for Crane's Money Fund University, a "basic training" in money markets and money funds, which will take place January 19-20, 2012, at the Hyatt Regency in Boston.

A press release entitled, "Money-Market Fund Creator Bruce R. Bent to Be Honored as Visionary of Mutual Fund Industry," says, "Bruce R. Bent, creator of the world's first money-market fund in 1969 along with partner Henry B.R. "Harry" Brown, will be honored by luminaries of the financial world at the Strategic Insight 25th Anniversary Gala Dinner on November 7, 2011. Honorees were selected by Strategic Insight's "Visionaries" Advisory Board. Mr. Bent will be recognized as one of the "Visionaries of the Modern Era of the Mutual Fund Industry." The release quotes Crane Data's Peter Crane, "Bruce Bent's invention of the money-market mutual fund stands as one of the most important developments in the history of mutual funds. Not only have money-market funds, now at $2.6 trillion in assets, earned investors over $1 trillion in interest income over their 40-year lifetime--hundreds of billions more than they likely would have earned in banks; they've also substantially lowered financing costs to corporations, municipalities and the U.S. government. Mr. Bent truly deserves Strategic Insight's title of 'Visionary."

The Wall Street Journal writes "Hidden Dangers Lurking In Money-Market Funds". It says, "It's always the quiet ones. Money-market funds -- U.S. mutual funds that buy short-term debt issued by companies, banks and governments -- are supposed to be safe, cash-like investments that lead an inconspicuous life in the lower reaches of the financial system. In normal times, these funds, which collectively have more than $2.5 trillion under management, should be stored away in the drawer marked "BBB" -- "Big But Boring" -- and forgotten. But times have been anything but normal in recent years. Cue a whirlwind of regulatory activity, led by the Securities and Exchange Commission, that could fundamentally change the nature of this huge sector, and not a minute too soon. The issue is simple-yet-frightening: Money-market funds have become "systemic" institutions, whose size, interconnectedness and behavior have the potential to cause serious damage to companies, investors and the economy.... Industry representatives point out, with some reason, that only two funds have ever broken the buck, adding that, since the outset of the euro-crisis, the sector has steadily reduced holdings of European bank debt. Indeed, the much-scrutinized French banks no longer feature among the top 10 borrowers from U.S mutual funds, according to the latest figures from Crane Data. That is reassuring news but not reassuring enough to ease the regulatory pressure."