Investors Flock to Money Market Funds Amid Banking Crisis
The banking crisis has led investors to rotate their portfolio investments, sending over $286 billion into US money market funds so far in March, according to Emerging Portfolio Fund Research data. The top winners from investors flooding cash into US money market funds in the past two weeks are Goldman Sachs, JPMorgan Chase and Fidelity. Money market funds inflows are driven by fears surrounding the financial system health as banks in the US and Europe face liquidity constraints amid monetary policy tightening.