AB Government Money Market Portfolio Surpasses $10 Billion in Assets

Date : 11/05/2019 @ 1:30PM
Source : PR Newswire (US)
Stock : AllianceBernstein Holding LP (AB)
Quote : 28.67  -0.65 (-2.22%) @ 12:59AM
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AB Government Money Market Portfolio Surpasses $10 Billion in Assets

AllianceBernstein (NYSE:AB)
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2 Months : From Oct 2019 to Dec 2019

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NEW YORK, Nov. 5, 2019 /PRNewswire/ -- AllianceBernstein L.P. (AB), a leading investment management and research firm, announced today that the AB Government Money Market Portfolio (GMOXX) has achieved a significant milestone, reaching assets of $10,980,557,487, a year-to-date increase of more than 38%, as of November 4, 2019.

The Government Money Market Portfolio is designed to create maximum current income while consistently offering the safety of maintaining principal and liquidity. The portfolio provides income in the form of a dividend that generally reflects short-term interest rates, which is accrued daily and paid out monthly. The portfolio currently invests in U.S. government securities and/or repurchase agreements related to government securities that are fully collateralized alongside cash.

"In today's volatile environment, liquidity management strategies are even more important to investors seeking better returns and stability in their asset allocation" said Zak Green, Global Head of Liquidity Sales at AB. "Our flagship Government Money Market Portfolio offers investors diversification, stability, liquidity and a solution that ensures they are not overly dependent on a single banking relationship.Additionally, the fund's socially-conscious investment approach (adding 19 veteran, minority, women, and disabled-owned specialty broker dealers to our approved list) and diversified portfolio management team have served as unique differentiators in a space largely devoid of such solutions."

To learn more about AB's Government Money Market Portfolio, please visit us here.

About AllianceBernstein
AB is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets.

As of September 30, 2019, including both the general partnership and limited partnership interests in AB, AB Holding owned approximately 35.4% of AB and EQH, directly and through various subsidiaries, owned an approximate 65.3% economic interest in AB. Additional information about AB may be found on our website, www.alliancebernstein.com.

The views expressed herein may change at any time after the date of this press release. This document is for informational purposes only and does not constitute investment advice. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.

Cision View original content:http://www.prnewswire.com/news-releases/ab-government-money-market-portfolio-surpasses-10-billion-in-assets-300951591.html

SOURCE AllianceBernstein

Copyright 2019 PR Newswire

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