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Hedge Fund Monthly
 
Passive Versus Active Investment in Hedge Funds
Sandra L. Manzke, MAXAM Capital Management September 2006
 

In 1972, the ‘Reserve Fund’ was established as the first money market fund, enabling investors to invest cash balances in an efficient and effective manner. Fidelity and Scudder, Stevens and Clark were also putting the final touches on their own funds and quickly revolutionised the mutual fund world. Today, there are more than 1,300 money funds in the United States alone, and money market funds are offered in all the major currencies throughout the world.

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