The Reserve Primary Fund was the first money market fund that was set up. The investment fund active from 1970 until 2015. The fund was created in 1970 by Bruce R. Bent and Henry B. R. Brown and it was managed by the Reserve Management Company. At its peak it held more than $60 billion in assets.[1] During the 2007–2008 financial crisis it lost dollar value, or "broke the buck," and was liquidated as a result.