The LGIM US Liquidity Fund is part of the firm’s strategy to grow its active fixed income product range that includes the £8bn LGIM Sterling Liquidity Fund launched in 2008.
Jennifer Gillespie, head of money markets at LGIM, says the fund is aimed at those wishing to manage their short-term dollar denominated cash management requirements.
The fund’s conservative approach, she says, means it has avoided exposure to the PIIGS’ financial institutions, adding: “We have been cautious on the troubles in Europe for some time and are one of the few money market managers to have introduced country limits which have enabled us to manage and reduce our exposure and duration to European banks.”
The liquidity fund invests in dollar-denominated money market assets and is available for both UK and international clients. Its investment strategy will be the same as LGIM’s Sterling and Euro Liquidity funds.
