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Ignis adds sterling & dollar classes to £1.3bn short duration cash fund
by Eleanor Lawrie on Feb 20, 2014 at 13:29
Ignis, led by Chris Samuel (pictured), has introduced US dollar and euro share classes on its £1.3 billion Sterling Short Duration Cash fund.
The move allows euro or dollar investors to invest in their base currency without taking exchange rate risk to sterling.
The fund returned 0.89% in the 12 months to the end of January, compared to the UK Interbank 3 month LIBOR benchmark return of 0.51%.
'2014 is likely to present different challenges as central bank liquidity is gradually un-wound and interest rate expectations begin to rise, which will begin to establish a sense of normality for money markets.
'I am confident that we can continue to deliver for our clients and I look forward to welcoming investors into the new euro and US dollar share classes in due course,' Brian Jack, head of liquidity, said.
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