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A money market fund (also called a money market mutual fund) is an open-end mutual fund that invests in short-term debt securities such as US Treasury bills and commercial paper. [1] Money market funds are managed with the goal of maintaining a highly stable asset value through liquid investments, while paying income to investors in the form of dividends. Although they are not insured against ...
Money market funds – also known as money market mutual funds – are a saving and investing option offered by banks, brokerages and mutual fund companies.
When considering a money market account, look for one with a high interest rate, low fees and a reasonable minimum balance requirement that fits with your financial situation.
Investors in money market funds earn income, or a yield, from the securities that are held within the fund.
Northern Trust Corporation is an American financial services company headquartered in Chicago, Illinois that caters to corporations, institutional investors, and ultra high net worth individuals. Northern Trust is one of the largest banking institutions in the United States and one of the oldest banks in continuous operation.
Edward Jones serves investment clients in the U.S. and Canada, through its branch network of more than 15,000 locations [7] and 19,000 financial advisors. [8] The company currently has relationships with nearly 8 million clients and $1.8 trillion in assets under management worldwide. The firm focuses solely on individual investors and business owners.
You can open a money market account as you would a traditional or high-yield savings account at most banks and credit unions — and here, too, rates tend to be higher with a digital or online bank.
A money market account ( MMA) or money market deposit account ( MMDA) is a deposit account that pays interest based on current interest rates in the money markets. [1] The interest rates paid are generally higher than those of savings accounts and transaction accounts; however, some banks will require higher minimum balances in money market accounts to avoid monthly fees and to earn interest.