We partnered with Atomic Invest to launch Treasury accounts to help businesses put their idle cash to work — safely and automatically. At the core of treasury are money market funds. This guide explains what money market funds are, why they’re used by finance teams around the world, and how your money can grow with a Treasury account.
What’s a money market fund?
A money market fund (MMF) is a type of mutual fund that invests in low-risk, high quality short-term debt securities and cash equivalents — usually things like U.S. Treasury bills and other government-backed debt. Think of it as a place to park your cash and earn yield without locking it up. MMFs are generally:
Highly liquid (you can usually pull funds out within days)
Very low risk
Used by companies, institutions, and governments to manage cash
What’s inside the Treasury account money market fund?
We’ve partnered with Atomic Invest to give you access to an investment advisory account offering two institutional-grade funds:
BlackRock Liquidity T Fund (TSTXX) — a U.S. Treasury securities fund made up of short-term government debt.
Significant exposure to U.S. government-backed securities
Actively managed by BlackRock Advisors, LLC
Focused on capital preservation and liquidity
Morgan Stanley Institutional Ultra-Short Income Portfolio (MULSX) — an ultra-short duration bond fund that invests primarily in high-quality, investment-grade debt securities.
Slightly broader holdings than TSTXX, including corporate and asset-backed securities
Designed for slightly higher yield potential while still maintaining a conservative risk profile
Managed by Morgan Stanley Investment Management
Together, these options give you flexibility to choose between pure Treasury exposure (TSTXX) or a diversified ultra-short income strategy (MULSX) — depending on your business’s cash management goals.
Understanding How the Yield Works
Money market funds report on a Net 7-Day Yield, which represents the average income return over the past 7 days, annualized (as if that same rate continued for a full year) and net of fees.
Example:
Suppose you deposit $100,000 in your Treasury account, and the net 7-day yield is 4.0%. That 4.0% is an annualized yield, not a daily rate.
To understand what that means daily:
Daily yield ≈ (1 + 0.04)^(1/365) - 1 ≈ 0.01096% per day
On $100,000, that’s about $10.96 per day, assuming the yield stays constant.
Over a full year, that compounds to about $4,000 in earnings before taxes.
Yields adjust automatically based on prevailing short-term interest rates — so your return changes as the market changes. You’ll always see your current yield reflected in your Slash dashboard.
How does my money grow?
The BlackRock Liquidity T Fund generates returns through 7-day SEC yield, which is the average income return over the past 7 days, net of fees, assuming the rate stays the same for one year. Yields generally adjust automatically based on interest rates. You’ll see this yield reflected right inside your Slash dashboard.
Insurance and Safety
Securities in your account are protected by the SIPC (up to $500,000, including $250,000 for claims for cash). For details, please see www.sipc.org. Money market funds aim to maintain a stable value of $1.00 per share and are frequently used by corporate treasury teams to manage short-term cash.
Money market funds are a time-tested way to grow idle cash without taking on unnecessary risk. With the Treasury account, you get seamless access to a high-quality money market fund that seeks current income while providing liquidity and stability of principal — backed by U.S. government securities, managed by BlackRock, and fully integrated into your Slash dashboard. It’s generally simple, safe, and built for modern business.
Although the money market fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Past performance does not guarantee future results.