6.01 Chapter 1 explained that a money market mutual fund is a type of fixed income mutual fund that invests in debt securities with short maturities and minimal credit risk. There are three main categories of money market mutual funds in the US: prime funds, US government funds, which can be further divided into US Treasury and US government agency securities funds, and tax exempt funds. Examined in Chapter 5, Rule 2a-7 which governs the activities of US money market funds does not provide a definition of prime or Treasury and government agency funds,3 but it does...
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