It's been a while since I've talked about Phillips money market fund (MMF). A quick search revealed three articles: 1. POEMS money market fund (MMF) (2008) 2. Phillips money market fund (2009) 3. Phillips MMF (2010) I know, from first look, they are all the same or similar sounding titles. No creativity on my part in choosing a title, haha! For those who do not know, money market fund is a collection of short term bonds, deposits and savings. They don't give out interest like what stocks or even banks do. It's more like a unit trust where there's a NAV posted every day. If you buy say at 1.002 and after a month the NAV rises up to 1.012, then you have a return of 0.998% ( [1.012-1.002]/1.002 x 100%). The NAV keeps going up as the deposits and savings are capital protection ......