UK - Scottish Widows Investment Partnership (SWIP) has adopted UCITS III requirements for its £9bn Global Liquidity Fund.
By adopting UCITS III standards, managers of other UCITS funds will be able to invest cash balances in the fund. The Global Liquidity Fund aims to return yield in excess of 7-day LIBID on a rolling 30 day basis with penalty-free daily access to money It is AAA rated. The fund has restricted itself to invest no more than 10% in other collective investment schemes as part of UCITS III compliance, SWIP said.
Cash management is set to become more active this year as managers seek to improve performance,” said Donald Aiken, head of cash services at SWIP. “AAA rated liquidity funds offer investors the right balance between enhanced return and minimum risk with proven and low-risk solutions.
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