Which of the following statements is NOT true about a money market fund.

Multiple choice question.

The average maturity of mutual funds tend to be a bit more than one month.

Mutual funds commonly hold only about $5\%$ of total assets in money market securities$.$

These funds invest in money market securities such as commercial paper, repurchase agreements or certificate of deposit.

Money market funds usually offer check$-$writing features and net asset value is fixed at $$1$ per share.