Hello, How can I a put money on a money market fund that invests in corporate paper? Do I buy shares of the fund or it's done some other way? I have an Interactive Brokers account. Thank you.
Hi, In general, money market funds do automatically invest in commercial papers or anything that is short-term and liquid. If you want more details on what your money market fund invests in, then you should reach out to your broker for details. In general, when you have excess cash that is not invested, it will be swept into the money market fund at your broker. Make sure you elected to have your excess cash swept into the money market fund when you filled out the new account application with your broker. Hope this helps.