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LGIM launches US dollar denominated liquidity fund

Legal & General Investment Management (LGIM) has launched a US dollar denominated liquidity fund to broaden its current liquidity management offering.

The company said the new fund invests in US dollar denominated money markets assets and is available for both UK and international clients with a minimum investment of $30m.

According to the company, the fund will follow the same cautious investment strategy as LGIM’s Sterling and Euro Liquidity Funds.

LGIM head of money markets Jennifer Gillespie said they are pleased to be extending their product range and offering their clients a flexible, convenient and cost-effective solution to managing their short-term dollar denominated cash management requirements.

LGIM has launched Sterling Liquidity Fund at the start of 2008, which now has grown to a value of £8bn.