Jakarta, CNBC Indonesia – Need a place to park funds or save in the short term? Money market mutual funds are the answer.
Based on Edvisor.id data on October 31 2023, one of the 10 best money market mutual funds has performed quite well, even above deposit returns.
While the rest have performance of approximately 4% year to date (YTD). The following are 10 money market mutual funds with the best performance summarized from Edvisor.id data.
Money market mutual funds are often referred to as financial instruments that benefit quite a lot when there is an increase in the benchmark interest rate. This is because the basic assets in the money market mutual fund portfolio are assets such as deposits or short-term debt securities with maturities of less than a year.
Apart from being used as an instrument for saving emergency funds, money market mutual funds can also be used for short-term savings.
For example, if you have plans for the next year or less than three years. You can put your funds into money market mutual funds instead of letting your funds sit in savings.
In fact, there is nothing wrong with putting money in savings, as long as you remain committed to not using it for consumptive or emergency purposes.
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