tax-exempt money market fund

tax-exempt money market fund definition - business

tax-exempt money market fund

An open-end investment company that invests in short-term tax-exempt securities. These funds usually pay relatively low current income but are very liquid. They appeal to higher-income investors who seek a temporary investment. Also called short-term municipal bond fund.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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