Definitions #
A type of mutual fund that invests in very short-term, high-quality debts like Treasury bills and commercial paper, aiming for stability and easy cash access.
Technical An open-ended collective investment scheme investing in money market instruments with weighted average maturity limits, valued at amortised cost or mark-to-market under EU MMF Regulation or SEC Rule 2a-7.
Example The corporate treasury allocated part of its idle cash to a government money market fund to earn a modest yield while preserving liquidity.
Etymology #
From money market, the market for short-term borrowing and lending, plus fund, a pool of investment capital; the term emerged in the United States in the 1970s.
Collocations #
- prime money market fund 优质货币市场基金，投资于商业票据和存单
- government money market fund 政府货币市场基金，主要投资政府债券
- MMF liquidity fee 货币市场基金流动性费（赎回时可能收取）
Real Business Examples #
- The auditor tested the NAV calculation of the money market fund to ensure compliance with the amortised cost method.
- Due to market stress, the fund manager imposed a redemption gate on the prime money market fund.
Register & Variants #
- Register: formal
- BrE/AmE: 美式常用 money market fund，英式常称 money market fund 或 MMF
Synonyms & Antonyms #
- Synonyms: money market mutual fund, MMF
- Antonyms: equity fund
Common Errors #
- 认为货币基金保本 除非监管允许，货币基金不保本，仍可能亏损（如跌破净值）
- 混淆 NAV 和资产净值 货币基金可采用固定净值或浮动净值，需明确规则
Confusable Terms #
- Cash Deposit vs Money Market Fund
- 现金存款受存款保险保障，货币市场基金是投资基金，不保证本金
Frequently Asked Questions
货币基金适合谁?
适合短期现金管理和风险承受力低的投资者，但并非无风险
货币基金的流动性如何?
通常可部分或全额赎回，但极端市场下基金可以设置赎回限制
与银行定期存款比哪个好?
需比较收益率、流动性和风险；货币基金收益率可能浮动且无保险