Money Market Mutual Fund
Definition of "Money market mutual fund"
Fund that concentrates primarily on short-term government securities, certificates of deposit with maturities less than one year, and high-quality interest-bearing corporate debt. The fund is a pool of money from many investors from which interest is paid to these investors on the income earned by that pool of money. Income and yield fluctuate on a daily basis, but each share in the mutual fund maintains a constant value of $1, resulting in no capital gains or losses. These funds are ideal for short-term needs. Since these funds invest in financial instruments whose maturities are very short, reinvesting is on a continuous basis. Thus, as interest rates rise or fall, the funds' yields will correspond accordingly.
Popular Insurance Terms
Act passed by Congress in 1991, the purpose of which is to make it easier for consumers to compare deposit accounts among savings institutions (SI). Some of the act's more important ...
Agreement concerning an insured individual, not the insured's property. A property and casualty insurance contract cannot be assigned, since it follows the insured, not the property. For ...
Automatically extended reporting period of five years, during which claims may be made after a claims made basis liability coverage policy has expired, provided these claims are the result ...
Redistribution of wealth by taking money from one group of individuals and allocating that sum to another group of individuals, social insurance is such a mechanism, since the high-income ...
Financial instrument established irrevocably for a minimum of 10 years, after which the principal reverts to the grantor upon termination of the trust. A key feature is that earnings from ...
Same as term Contract Holder: in insurance, individual with rightful possession of an insurance policy, usually the policyowner. ...
Factors influencing the amount of life insurance to purchase, such as marketable skills of spouse, age of children, savings, investments, number of future working years' expectancy, amount ...
Record of insurance policies sold to an individual. ...
Coverage on all risks basis for such items as binders, reapers, harvesters, plows, tractors, pneumatic tools and compressors, bulldozers, and road scrapers. Excluded from coverage are wear ...
Have a question or comment?
We're here to help.