UK - King & Shaxson Asset Management has launched a cash management service for pension funds which, it says, will undercut competitors.
The service is aimed at schemes that have more than £5m in cash under management and want to have liquidity in a low-risk environment.
Fixed deposits, certificates of deposit gilts treasury bills, floating rate notes and fixed rate corporate bonds will all be available to clients. The service is run by King & Shaxson’s cash management division, led by Marc Dodd who previously founded Tilney Investment Management’s treasury and fixed interest department and helped build its cash funds under management to over £200m.
Dodd said King & Shaxson’s service would have an aggressive pricing structure to challenge other cash management providers in the market.
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