A press release entitled, "Money-Market Fund Creator Bruce R. Bent to Be Honored as Visionary of Mutual Fund Industry," says, "Bruce R. Bent, creator of the world's first money-market fund in 1969 along with partner Henry B.R. "Harry" Brown, will be honored by luminaries of the financial world at the Strategic Insight 25th Anniversary Gala Dinner on November 7, 2011. Honorees were selected by Strategic Insight's "Visionaries" Advisory Board. Mr. Bent will be recognized as one of the "Visionaries of the Modern Era of the Mutual Fund Industry." The release quotes Crane Data's Peter Crane, "Bruce Bent's invention of the money-market mutual fund stands as one of the most important developments in the history of mutual funds. Not only have money-market funds, now at $2.6 trillion in assets, earned investors over $1 trillion in interest income over their 40-year lifetime--hundreds of billions more than they likely would have earned in banks; they've also substantially lowered financing costs to corporations, municipalities and the U.S. government. Mr. Bent truly deserves Strategic Insight's title of 'Visionary."
