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The introduction of money market funds in the high interest rate environment of the late 1970s boosted industry growth dramatically.
en.wikipedia.org It provides growth and risk-managed investment strategies and manages equity, fixed income, money market, as well as balanced mutual funds.
en.wikipedia.org They place the money on deposit to earn interest, using the money market.
en.wikipedia.org Money market funds are widely (though not necessarily accurately) regarded as being as safe as bank deposits yet providing a higher yield.
en.wikipedia.org It also accepts demand, savings, checking accounts, money market accounts and certificates of deposit from customers.
en.wikipedia.org