In 1970, the very first money market fund was created called the Reserve Fund. Money market funds were created to limit exposure to risks and losses from the market. A money market fund is defined as an open mutual fund that involves short-term debt securities. The mutual funds are just as safe an investment as the regular money accounts in the bank except that it yields more interest. People who have extra cash that they can store away for a few years are perfect candidates for mutual funds. Many people use these funds to one day pay for their children’s college expenses or even for retirement.
Bruce Bent II is a financial expert who understands money market funds. In fact, his father was the founder of the first money market fund. Bent II graduated from Northeastern and began following in his father’s footsteps in the financial industry.
Bent II is running Double Rock Corporation as Vice Chairman and President of the company. He has helped various financial businesses including banks, broke-dealers and retail marketers come up with cash-related solutions. His education and family background in the financial world has help him to become a guru in his field.
Currently Bent II is a member of the Young Presidents’ Organization, a network that connects young global business leaders worldwide. He was also a former finance chairman in the Gotham chapter of Manhattan. He uses his knowledge and character to help shape future business leaders.