The first money market fund was founded in 1971 and was called the ‘Reserve Fund.’ He has had an enormous impact on the American financial system and has changed the course of history with his invention. The business model started out on an extremely small scale, and offered people a chance to invest an amount of money for an extremely quick return. The idea caught on extremely well because it was a solution for fast money to the people.
Today, money market funds have gained popularity all over the world, and have changed the way investors look at investing the money that they have. The reason for this is because a money market fund is short term and focuses on offering short-term goals for investors. They are regarded as one of the safest and secure ways to invest money that give the investor excellent returns at the end. In addition, money market funds offer their investors a lot less of a risk than other methods of investments, which is why it is being sought after all over the world. In the United States, there are extremely strict regulations that govern money market funds, which is also why they are so safe and secure. All the money market funds are looked over by the SEC of America which ensures their security.
Bruce Bent II is someone who is known in the American business scene for his expertise in the world of finance. He is has a deep underestanding of financial issues and money market funds. In fact, his father was the founder of the very first money market fund. Bent II went to Northeastern University and soon after graduating joined his father in a career of finance.
Bruce Bent II worked for a while at a firm known as Rothschild and Company. He now is the president and vice chairman of the board for Double Rock Corp. where he helps oversee and implement creative financial solutions for businesses. Through his knowledge and hands-on training with his father, Bruce Bent II is one of the most successful investors out there.