Legal & General Investment Management launch euro liquidity fund
Legal & General Investment Management (LGIM) have launched a euro denominated liquidity fund, to be managed by Jennifer Gillespie, LGIM’s head of money markets.
The fund is aimed at UK and overseas institutional investors and will be run with the same cautious strategy as the firm’s £7.3bn LGIM sterling liquidity fund, also run by Gillespie, LGIM said in a statement.
The fund has a minimum investment threshold of €25m and is expected to be popular amongst a wide range of investors from treasurers and corporate pension schemes to local authorities, charities and insurance companies, as an alternative or addition to cash accounts and deposits, Gillespie said.
The fund has been rated AAAm by S&P and AAAmmf by Fitch.