UK - Standard Life Investments has launched a euro denominated money market fund aimed at schemes and other institutional investors.
SLI says the fund is designed to provide an accessible investment vehicle for investors with medium-dated cash balances, and at launch it had invested e50m in a range of money market assets.
The Euro Liquidity Plus fund will be benchmarked to the three-month euro Interbank Offer Rate (Euribor). Investors have a seven-day notice for redemptions and the fund has been awarded Aaa/MR1 rating by Moody’s Investors Service.
SLI head of money market funds Kevin Thompson said: “This fund will meet the demand from clients for an enhanced cash management vehicle offering a three-month Euribor return within a secure environment.”
The fund will form part of SLI’s Aaa Cash fund which offers three short-dated sub-funds denominated in sterling, euro and dollar, and a medium-dated sterling sub-fund.
Collective defined contribution (CDC) savers should be allowed to access pension freedoms when the scheme is rolled out, last week's Pensions Buzz respondents said.
Partner Insight: A fiduciary management approach gives trustees a richness of information you can't get with a standard adviser approach, especially in times of market uncertainty, explain Russell Investments' David Rae and Paul Wharton
The PPI has unveiled a policy paper outlining current considerations and policy debates relevant to DC scheme default strategies. Kim Kaveh explores some of its views.
The £30bn local government pension pool has appointed Quoniam and Robeco to manage an active equity portfolio worth around £400m.