MMs: Blackrock, JPMorgan, Goldman Sachs, Pictet, Amundi

[chang]

I have a choice of MMs available to me in my European account. Being MMs, they are all very similar, and I am inclined to choose the lowest fee / highest yielding one. There are some differences in the portfolios. I have looked at the web pages below briefly, and the Pictet fund actually looks like it might be the best.

On the off chance that someone here actually has familiarity with these funds/ companies, or feels like perusing the pages below, I'm wide open to any feedback. TIA.

am.pictet/en/uk/institutional/funds/pictet-short-term-money-market-usd/LU0128497707

www.blackrock.com/cash/en-de/products/251036/?referrer=tickerSearch

am.jpmorgan.com/gb/en/asset-management/liq/products/jpm-usd-treasury-cnav-institutional-acc-lu1873132952

www.gsam.com/content/gsam/che/en/advisers/products/fund-finder/goldman-sachs-us$-liquid-reserves-fund.html#activeTab=performance&scType=R%20Accumulation%20(T)%20Class

www.amundi.com/globaldistributor/product/view/LU0568621022
www.amundi.com/globaldistributor/product/view/LU0568621295

[johnsmith]

lowest fee, highest yield should generally work fine.

[Chahta]

Gateways and fees in any of them?

[FD1000]

Do any of these beat FZDXX?

[chang]

Dec 17, 2022 14:58:29 GMT FD1000 said:

Do any of these beat FZDXX?

Yes, several of them have 7D yields over 3.9%.

[chang]

Dec 17, 2022 14:34:10 GMT Chahta said:

Gateways and fees in any of them?

That’s what I need to check. The Pictet MM looks great, and the web page shows only a 0.15% all-in fee, but the Fact Sheet linked from that page shows some other distribution fees. I’ve asked my banker to clarify.

[yogibearbull]

Watch European m-mkt reforms that will eventually eliminate stable values. There will be a transition period. These seem far beyond what is being proposed so far in the US; 3 types also remain.
www.ssga.com/lu/en_gb/institutional/cash/insights/eu-reform-regulatory-recommendations

[chang]

Narrowed down to three.

Fund                  Fees      1-day / 7-day Yield as of 16-Dec-2022
BlackRock          0.25%    4.19 / 4.04%
JPMorgan           0.21%    4.02 / 3.83%
Goldman Sachs  0.15%    4.30 / 3.98%

Interesting that the BlackRock fund has both the highest fees and highest yield. The BR fund has a weighted average maturity of 24 days; the JPM fund 6 days, and the GS fund 26 days. I think this is what distinguishes them. (There are significant portfolio differences as well, as noted in the links.)

BlackRock or Goldman Sachs?

[johnsmith]

Dec 19, 2022 17:51:35 GMT chang said:

Narrowed down to three.

Fund                  Fees      1-day / 7-day Yield as of 16-Dec-2022
BlackRock          0.25%    4.19 / 4.04%
JPMorgan           0.21%    4.02 / 3.83%
Goldman Sachs  0.15%    4.30 / 3.98%

Interesting that the BlackRock fund has both the highest fees and highest yield. The BR fund has a weighted average maturity of 24 days; the JPM fund 6 days, and the GS fund 26 days. I think this is what distinguishes them. (There are significant portfolio differences as well, as noted in the links.)

BlackRock or Goldman Sachs?

GS.

[chang]

johnsmith I think so. The 1YR return as of 11/30 is 1.34% (GS) and 1.25% (BR), which looks a lot like the difference in ER. Done.