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INFXX

Franklin Institutional U.S. Government Money Market Fund

As of 06/12/2026

NAV

$1.0000

$0.0000 (0.00%)
As of 06/11/2026

Fund Level Market NAV

$1.0000

 
As of 06/11/2026

Master Fund Level Market NAV

$1.0000

 
As of 06/11/2026

Liquid Asset (Daily)

64.74%

 
As of 06/11/2026

Liquid Asset (Weekly)

79.51%

 

Overview

Fund Description

The fund seeks to provide investors with as high a level of current income as is consistent with the preservation of shareholders’ capital and liquidity. The fund also tries to maintain a stable $1.00 share price. The fund is a "feeder fund" that invests, through the master portfolio, at least 99.5% of its total assets in government securities, cash and repurchase agreements collateralized fully by government securities or cash.

Fund Information
Asset Class 
Money Funds
Share Class Inception Date 
07/17/1985
Fund Inception Date 
07/17/1985
Investment Style 
Money Market
Morningstar Category 
Money Market-Taxable
Lipper Classification 
Instl U.S. Government Money Market Funds
Total Net Assets  As of 05/31/2026 (Updated Monthly)
$6.01 Billion
Total Net Assets (Master Fund)  As of 2026-05-31 (Updated Monthly)
$11.16 Billion
Shareholder Net Flow  As of 06/12/2026
$144.42 Million
Shareholder Net Flow (Master Fund)  As of 06/12/2026
$141.86 Million
Dividends & Yields
7-Day Effective Yield  As of 06/12/2026 (Updated Daily)
3.57%
7-Day Effective Yield—Without Waiver  As of 06/12/2026 (Updated Daily)
3.54%
7-Day Current Yield  As of 06/12/2026 (Updated Daily)
3.51%
7-Day Current Yield—Without Waiver  As of 06/12/2026 (Updated Daily)
3.48%
Sales Charges, Expenses & Fees
As of 11/01/2025
Gross Expense Ratio 
0.36%
Net Expense Ratio 
0.17%
Maximum Initial Charge 
-
CDSC 
N/A
12b-1 Fee 
-
Identifiers
Ticker 
INFXX
Fund Number 
140
CUSIP Code 
457756500

Portfolio Managers

Shawn Lyons, CFA®

California, United States

Managed Fund Since 1985

Joanne M Driscoll, CFA®

Massachusetts, United States

Managed Fund Since 2024

Michael J Lima, CFA®

Massachusetts, United States

Managed Fund Since 2024

Performance

Portfolio

Portfolio Holdings

Holdings

As of 05/31/2026 Updated Monthly
Security Name 
Cash and Cash Equivalents
Weight (%) 
59.25
Market Value ($) 
6,604,270,738
Quantity 
Security Name 
BNP Paribas Securities Corp 3.61% 06/01/2026 REPO
Weight (%) 
6.28
Market Value ($) 
700,210,583
Quantity 
700,000,000
Security Name 
Bank Of New York Mellon Corp/The 3.61% 06/01/2026 REPO
Weight (%) 
5.38
Market Value ($) 
600,180,500
Quantity 
600,000,000
Security Name 
HSBC Securities USA Inc 3.61% 06/01/2026 REPO
Weight (%) 
3.59
Market Value ($) 
400,120,333
Quantity 
400,000,000
Security Name 
Bank Of New York Mellon Corp/The 3.6% 06/01/2026 REPO
Weight (%) 
1.81
Market Value ($) 
201,810,525
Quantity 
201,750,000
Security Name 
Federal Home Loan Banks FRN 11/23/2027
Weight (%) 
1.12
Market Value ($) 
125,126,944
Quantity 
125,000,000
Security Name 
Federal Home Loan Mortgage Corp FRN 01/08/2027
Weight (%) 
1.09
Market Value ($) 
121,972,669
Quantity 
121,300,000
Security Name 
Federal Home Loan Banks FRN 02/17/2028
Weight (%) 
0.99
Market Value ($) 
110,168,315
Quantity 
110,000,000
Security Name 
Federal Home Loan Banks FRN 01/29/2027
Weight (%) 
0.94
Market Value ($) 
105,351,167
Quantity 
105,000,000
Security Name 
Federal Home Loan Banks FRN 01/13/2028
Weight (%) 
0.91
Market Value ($) 
101,661,412
Quantity 
101,150,000

IMPORTANT HOLDINGS INFORMATION: The information shown above relates to The U.S. Government Money Market Portfolio, the registered investment company in which the fund invests all of its investable assets. The fund utilizes a master/feeder structure by investing its assets in a master portfolio. Assets are reported at the master portfolio level.

Distributions & Tax

Distributions

Distribution Schedules

Dividend Frequency, if any This fund is an ex-Dividend fund
Monthly

Rates and Yields

Read important information about results and other investment disclosures
7-Day Current Yield
As of 06/12/2026
w/ Waiver 
3.51%
w/o Waiver 
3.48%
7-Day Effective Yield
As of 06/12/2026
w/ Waiver 
3.57%
w/o Waiver 
3.54%

Distributions Per Share

Current Year Distributions Per Share
Distributions with future dates are estimates and those figures are not final

Tax Information

Tax Information

Federal ID Number 94-2984391
For information on tax years prior to 2008, please contact us
These amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.
Distributions per Share ($)
Supplemental Tax Information
Foreign Source Income 
Foreign Source Qualified Dividends 
Direct U.S. Government Obligations 
72.85%
Specified Private Activity Bond Interest 
Dividends Received Deduction 
Section 163(j) 
99.99%
Indiana Resident Taxable Income 
Utah Resident Taxable Income 

Pricing

Pricing

Pricing History Chart

As of 06/12/2026 Updated Daily

Daily Fund Prices

As of 06/12/2026

Share Prices

As of 06/12/2026
NAV (Net Asset Value)
$1.0000
NAV Change 
$0.0000
NAV Change (%) 
0.00%
Fund Level Market NAV 
$1.0000
Master Fund Level Market NAV 
$1.0000
Liquid Asset (Daily) 
64.74%
Liquid Asset (Weekly) 
79.51%

52-Week Range

Highest NAV  As on 06/12/2026
$1.0000
Lowest NAV  As on 06/12/2025
$1.0000

Liquid Assets

6 Month Historical Daily and Weekly Liquid Assets
As of 06/11/2026

Chart

Line chart with 2 lines.
The chart has 1 X axis displaying Time. Data ranges from 2025-12-11 00:00:01 to 2026-06-11 00:00:01.
The chart has 1 Y axis displaying values. Data ranges from 48.2 to 85.31.
End of interactive chart.

6 Month Historical Shadow NAV

6 Month Historical Shadow NAV
As of 06/11/2026

Chart

Line chart with 124 data points.
The chart has 1 X axis displaying Time. Data ranges from 2025-12-11 00:00:01 to 2026-06-11 00:00:01.
The chart has 1 Y axis displaying values. Data ranges from 1 to 1.
End of interactive chart.

Documents

Documents not available

Risks

What Are the Risks?

You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor is not required to reimburse the fund for losses, and you should not expect that the sponsor will provide financial support to the fund at any time, including during periods of market stress. Although the fund invests in U.S. government obligations, an investment in the fund is neither insured nor guaranteed by the U.S. government.

All investments involve risk, including loss of principal. The fund's yield may be affected by changes in interest rates and changes in credit ratings. These and other risks are discussed in the fund’s prospectus.