The money market fund is similar to bank deposits, even though they attract a higher yield. The main objective of money market funds is to generate high yields through an unlisted managed investment scheme.
In order to get the most out of money market mutual funds, one has to invest in a wider portfolio of high-quality, high liquid, and low-duration money market mutual fund instrument. The idea is to pool various individuals’ savings and invest them in fixed interest products that are not normally available to most investors.
The money market fund managers basically analyze the market trends before investing the funds in term deposits and short-term credible securities that mature within a short period that doesn’t exceed a year. The funds will not only provide higher returns than term deposits, but are also less risky. The money market fund managers offer retail investors access to bonds in the wholesale markets that are usually not open to individuals who are investing small amounts of money.
Bruce Bent II is the CEO and vice chairman of the Double Rock Corporation, which is a renowned financial technology company specializing in the cash management, retirement services, and cash-related solutions for individuals, brokers, banks, and retail markets. He is also the Chief Executive Officer of his company’s subsidiaries and affiliates like Access Control Advantage, Inc., Island Intellectual Property, LLC, and LIDs Capital, LLC among others.
Bent II’s entrepreneurial drive has played a major role in advancing the financial products and technologies that streamline the money market fund and other financial services. His patents and innovations have been utilized in various markets where his companies are used as the measuring stick for regulating financial operations. His contributions and achievements have transformed the cash management land-scape and turned it into a multi-trillion dollar industry. For example, Bent II’s Access Control Advantage introduced a contribution plan loan solution, which dramatically reduced borrowing for plan participants by up to 25%.
Besides being a member of Young Presidents’ Organization, he was also the finance chairman of the organization’s Gotham chapter in Manhattan. Some of the organizations where he has served include the Entrepreneur’s Organization in New York and the President’s Advisory Council of Scenic Hudson. He was also among the iconic entrepreneurs who were featured in the book the Leadership Secrets of the World’s Most Successful CEOs. He got a Bachelor of Science in Philosophy from Northeastern University.
For more information follow Bruce Bent II on Twitter.