money market fund
/ˈmʌni mɑrˌkɛt faʊnd/ · mon·ey mar·ket fund
noun
- A type of investment vehicle that pools money from multiple investors to invest in low-risk, short-term debt securities, such as commercial paper and treasury bills. She invested in a money market fund to earn a stable return on her savings.
- A type of mutual fund that invests in money market instruments, such as certificates of deposit and commercial paper. The money market fund was a popular choice for conservative investors seeking low-risk returns.
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Did you know? Money market funds are often used as a cash equivalent or a parking place for funds that are temporarily not being used, as they typically offer easy access to the invested money.