Legal & General Investment Management launch Euro denominated Liquidity Fund.
10 May 2011
Legal & General Investment Management (LGIM) has launched a euro denominated liquidity fund, to be managed by Jennifer Gillespie, Head of Money Markets, LGIM.
The fund is available for both UK and Overseas clients and invests in euro denominated money markets assets. It follows the same cautious investment strategy as the highly successful £7.3bn* LGIM Sterling Liquidity Fund, also run by Jennifer Gillespie. The fund does not invest in Asset Backed Securities, Asset Backed Commercial Paper or Structured Investment Vehicles.
It has been rated AAAm by S&P and AAAmmf by Fitch.
The fund is available to institutional investors and has a minimum investment threshold of €25 million. It is expected to prove 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.
Jennifer Gillespie, Head of Money Markets said “We are pleased to be extending our product range and offering our clients the opportunity of a euro denominated liquidity fund. LGIM Sterling Liquidity Fund has proven extremely popular with clients and consequently we saw the fund’s AUM grow by 120%*, making us the fastest growing fund in the peer group.
I am confident that adopting the same cautious approach will prove equally successful with this new euro denominated fund.”
*Source: iMoneyNet, data for the year ending 31.03.2011
For more information please contact:
PR Manager Investments
t: +44 (0) 2031 242096
About Legal & General
Legal & General Investment Management Limited.
One Coleman Street
London EC2R 5AA.
Registered in England 2091894.
t: +44(0) 20 3124 2096