AllianceBernstein’s AB Government Money Market Portfolio Reaches $16 Billion in AUM
Posted on 08/06/2020
AllianceBernstein L.P. is finding success in the world of money markets. Institutional investors and other end users are seeking diversifation and liquidity in markets in times of COVID-19. The asset maanger’s AB Government Money Market Portfolio (GMOXX) reached US$ 16.004 billion in assets under manaagement, a year-to-date increased of 54% as of July 19, 2020 and a 154% increase since January 2019. The portfolio invests in U.S. government securities and repurchase agreements.
The U.S. dollar remains the world’s pre-eminent reserve currency. In addition, Treasures remain the primary flight-to-safety asset.