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MMF
Money market funds
Money market funds (MMF) is an investment fund that invests in short-term (less than one year, average maturity of 120 days) marketable securities in the money market. The fund's assets are mainly invested in short-term monetary instruments such as treasury bills, commercial papers, bank certificates of deposit, bankers' acceptances, short-term government bonds, corporate bonds and other short-term marketable securities. Money funds have only one way to pay dividends - dividends to investment. Each unit of money market fund is always kept at 1 yuan, and the income after exceeding 1 yuan will be automatically converted into fund shares on time, and the number of fund shares owned means the number of assets owned. Other open-end funds have fixed shares and cumulative net unit values, and investors can only rely on the fund's annual dividends to realize their income.