About Bruce Bent II
Bruce Bent II is an American entrepreneur who was born in New York. Bruce Bent II is the C.E.O, Vice chairman, and president at Double Rock Corporation for over 26 years. He graduated from Northeastern University with a Bachelor’s’ degree in Philosophy.
Bruce Bent II’s father is credited for inventing the money market fund. Bent II has used the knowledge his father has taught him and his own business experiences to build a successful career. Bent II has help many businesses with qualified plans and creative solutions. He has also made a name for himself in the reitrement industry.
About Money Market Funds
Money market fund is a mutual fund which is open –ended and invests in short term debt securities like commercial paper. They are regarded as a safe bank deposit that yields higher returns and provide equity for financial intermediaries.
Money market funds limit exposure to losses as a result of liquidity, market, and credit and are regulated by ‘Securities and Exchange Commission’ in the U.S in accordance with the Investment Company Act of 1940 that restricts maturity, quality, and diversity of money market funds investments. The act stipulates that money funds buy the highest rating debt that matures within 13 months or less and that the portfolio must maintain a weighted average maturity of 60 days or less and must not invest in more than 5% for any issuer other than repurchase agreements and government securities.
Money market funds maintain a market value of at least $1 per share and pay back dividends to the investors. Some of the securities for investment in money markets include short term bonds and commercial paper, the money market security selected for investment should be of high quality and high liquidity in order to yield high returns. The main goal of money market funds is to minimize the loss of money as much as possible and to get a net asset value that is stable. Money market funds have gained popularity across the globe since it was first founded and remains one of the best and secure investment options for entrepreneurs.
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