Harvest fund was founded in March, 1999. Is one of the earliest 10 fund management companies in China, and was elected as the first investment manager in China at the end of 2002. In June, 2005, Deutsche Asset Management Company took a stake in Harvest, making Harvest one of the largest joint venture fund companies in China.
1. The money fund is an open-end fund that gathers idle social funds, is operated by the fund manager and kept by the fund custodian, and is dedicated to investing in money market instruments, with low risk. Different from other types of open-end funds, it has the characteristics of high security, high liquidity, stable income and "quasi-savings".
2. From the early 1970s to the 1980s, the United States was in a "stagflation" environment of economic recession and high inflation. At that time, the Federal Reserve controlled the interest rate of bank deposits, the interest rate of residents' deposits was lower than the inflation rate, and deposits were always in a state of depreciation. In order to attract funds, banks have introduced certificates of deposit with interest rates higher than the inflation rate. However, the initial deposit amount of this time deposit certificate is relatively large, and the minimum investment unit is often one hundred thousand or one million dollars. Only a few institutional investors have enough cash to make such investments.
3. Monetary Fund
For most Americans, the only financial investments they could participate in at that time were bank savings accounts, stocks and bonds with pitifully low interest rates.
When times are hard, people will naturally look for assets with good security and strong liquidity. However, many financial assets are either too risky, illiquid or have low returns, which cannot meet the financial needs of investors.
At that time, Ruth Bant, director of the cash management department and credit analyst of the world's largest pension fund teacher annuity insurance company, had a genius idea after a thorough investigation of the financial services industry: he founded a * * * mutual fund called "savings fund company" at 197 1.