The team at a $2-trillion-AUM (as of December 31, 2023) asset manager's liquidity management arm is celebrating a golden anniversary.

Yesterday, John Tobin, chief investment officer of BNY Mellon Investment Management's Dreyfus [profile], confirmed that Sunday was the 50th anniversary of the launch of Dreyfus' first money market fund, Dreyfus Liquid Assets, Inc.. (2024 is also the 240th anniversary of the launch of Bank of New York, now called BNY Mellon, which is BNY Mellon IM's publicly traded parent.)

The Dreyfus team notes that Dreyfus Liquid Assets, which debuted on January 28, 1974, was one of the first money market funds to hit the market. The fund merged into the Dreyfus Money Market Fund in 2021. That fund, as of yesterday, had grown to $2.098 billion in AUM.

Tobin highlights BNY Mellon's "heritage of innovation and resilience."

"As the world has changed our clients and local communities has always been at the center of what we do and how we do it," Tobin states. 

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