Bruce Bent II’s Career in Financial Industry of the United States

A money market fund rewards the investor with interests from shares that maintain a net asset value of $1 each, such as the commercial paper or US treasury bills. This investment falls into the category of one of the safest due to its small risks. It is typically short term with high-quality securities, liquidibility, and budgetary tools. The best candidates for this stock are people looking for retirement plans with funding from the employers. They have regulations from Investment Company Act of 194 and are available through banks, mutual funds, repurchase agreements, short-term bonds and brokerage firms. The regulations require the money fund to purchase the highest rated debt which matures in less than 13 months. With the exception of repurchase agreements and government securities, the investment’s portfolio ought to have a weighted average maturity of 60 days maximum and have less than 5 percent of investments.

The first money market fund in the United States, was set up in 1971. It allowed clients to save cash and earn a small interest return. It change the game for financial investing every where by enacting regulations that prospective entrepreneurs in the sector picked up. The industry has a current value of $3 trillion and serves tens of millions of clientelee Reserve Fund earned recognition from Smithsonian Institution for its grand effect on the United States’ money market.

Bruce Bent II is a financial expert that understands  money market funds quite well. Ironically, his father was the founder of the very first money makret fund. Bruce Bent II grew up learning about the financial world hands on. He attended Northeastern University where he recieved his Bachelor’s degree. Shortly after, he started his career in finances. He has played a key role in helping many financial institutions with cash-related solutions including banks, broke-dealers and retail marketers. Currently he is the Vice Chairman and President of Double Rock Corporation where he continues to have a strong impact on the financial industry.

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