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money-market fund |
Also found in: Financial, Wikipedia | 0.01 sec. |
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money-market fund, type of mutual fund mutual fund, in finance, investment company or trust that has a very fluid capital stock. It is unique in that at any time it can sell or redeem any of its outstanding shares at net asset value (i.e. ..... Click the link for more information. that invests in high-yielding, short-term money-market instruments, such as U.S. government securities, commercial paper commercial paper, type of short-term negotiable instrument, usually an unsecured promissory note, that calls for the payment of money at a specified date. Because it is not backed by collateral, commercial paper is usually issued by major firms whose credit-rating is ..... Click the link for more information. , and certificates of deposit. Returns of money-market funds usually parallel the movement of short-term interest rates. Some funds buy only U.S. government securities, such as Treasury bills, while general-purpose funds invest in various types of short-term paper. They became enormously popular with investors in the early 1980s because of their high yields, relative safety, and high liquidity. Investment in money-market funds soared from $20 billion in the late 1970s to over $150 billion in the early 1980s. Much of the growth came at the expense of banks and thrift institutions. With the recession of the late 1980s and early 1990s, interest rates (and, temporarily, the popularity of the funds) dropped. By 1999 more than $800 billion was invested in U.S. money-market funds. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Investment advisor Bill Donoghue was getting so much of that "contactless" mention in the media that at one point he officially changed the title of his money fund newsletter to Donoghue's Money Fund Report of Holliston MA 01746 in an effort to force other media to provide readers with this information. Crane, managing editor of IBC's Money Fund Report, which is published in Ashland, Massachusetts. Short-term interest rates have remained stubbornly high, ``well above the psychologically important level of 5 percent,'' said Peter Crane, managing editor of IBC Money Fund Report, a newsletter. |
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