Money market fund (MMF)

Roles that need it

• Treasury Analyst
• Corporate Treasury Analyst
• Portfolio Manager Assistant
• Investment Risk Analyst
• Fund Accountant

Skills it belongs to

• Fund regulation and structures (UCITS, AIFMD, US 1940 Act)
• Treasury and cash flow management

Related concepts

• NAV (Net asset value)Net asset value (NAV) is the value of a fund's assets minus its liabilities. NAV per share, or per unit, is the NAV of a share class divided by the number of shares in issue, and it is the price at which investors subscribe to and redeem from an open-ended fund.
• UCITS (Undertakings for collective investment in transferable securities)A UCITS is an open-ended investment fund authorised under Directive 2009/65/EC that invests in liquid financial assets under diversification and leverage limits. A UCITS authorised in one member state can be marketed to retail investors across the EU with a passport, and it must appoint a depositary.
• Liquidity management tools (LMTs)Liquidity management tools (LMTs) are measures an open-ended fund can use to manage redemptions in stress, such as suspension, redemption gates, notice periods, redemption fees, swing pricing, dual pricing, anti-dilution levies, redemptions in kind and side pockets. Directive (EU) 2024/927 requires UCITS and open-ended alternative investment fund (AIF) managers to select at least two.
• Repo (Repurchase agreement)A repurchase agreement (repo) is a sale of securities together with an agreement to buy them back at a set price on a later date. Economically it is a secured loan: the seller borrows cash, the buyer lends it and holds the securities as collateral, with the price difference representing the repo rate.

Sources

• Regulation (EU) 2017/1131 (Money Market Funds Regulation), EUR-Lex (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.