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JP Morgan looks to double liquidity fund to £16bn

JP Morgan Asset Management head of UK sales Jasper Berens believes the group’s offshore sterling liquidity fund could double to £16bn in the next year.

The fund, which was recently added to Cofunds, is currently worth £8bn and grew by 54 per cent last year.

Berens says: “It offers a good alternative to putting money with banks at a time when interest rates have been slashed to record lows while the fund is offering a yield of 1.75 per cent.”

Berens says it is important for advisers to recognise that not all liquidity funds should be pigeonholed. He says: “There is no tolerance for loss, hence the AAA rating from Standard & Poor’s. Compare that with the majority of liquidity funds in the UK, which tend to be A rated.”

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