It was the year 1970, when the financial market was too by surprise from the introduction of the world first money market fund. The proposal idea of a mutual fund was that it could generate rates of return while approving for zero market risk. The purpose of the fund was to provided investors the opportunity for direct financial resources and security for their money directly above all. Therefore, in 1970 the introduction of the first ever money market fund was commenced, the Reserve Fund. Presenting the chance to receive a return of money for giving money at an affordable rate. These could have seemed comical but it wasn’t, it was the idea that made a mesmerizing imprint in finances.
Money market funds are an investment. Investors aim at grossing interest while sustaining a NAV (net asset value) of $ 1 per share. The fund is contained in a portfolio; a portfolio is a collection of property in the categories of stocks, bonds, and cash equivalent. Financial advisers and investors manage the portfolios. The purpose of a money market fund is to secure a financial safety net for an investor. The popularity of the resource to incoming investors was that it was less hazardous compared to those in the financial market. An average Joe can make and short-term investment in a money market fund by taking advantage of T-bills and certificates of deposit (CD). Taking benefit of a money market fund can be lucrative for many people. Bruce Bent started a mecca of commercial possibilities, stating that the money can indeed work for you.
Bruce Bent II is a successful financial businessman who understands retirement funding and money market funds. He has been recognized as a great leader in the financial industry. Bent II attended Northeastern where he recieved his Bachelor’s degree. Thereafter, he started his career as an entreprenuer and knowledgeable businessman. Bent II currently works for Double Rock Corporation where he oversees as president and vice chairman.
For more information follow Bruce Bent II on Twitter.