JP Morgan Asset Management has launched a money market fund designed for investors seeking government exposure.
The JPMorgan Liquidity Funds – EUR Government CNAV fund is a short-term public debt constant net asset value (CNAV) money market fund.
The strategy will invest in short-term EUR denominated government bonds, treasury bills, and other money market instruments, as well as reverse repurchase agreements.
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Jim Fuell, head of global liquidity sales, international at JPMAM, said: “With interest rates in Europe now firmly in positive territory after a decade of negative levels, we’ve observed growing demand from investors for a money market fund with exposure to short-term government rather than bank-issued short-term debt.”
The strategy will be managed by managed by Joe McConnell and Ian Crossman, and will offer share classes for retail and institutional investors.
JP Morgan’s Fuell added that the fund might appeal to investors seeking an alternative to cash deposits for their medium-term or temporary cash investments, including seasonal operating cash or the liquidity components of investment portfolios.
