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Vanguard set to launch cash and property fund to boost tracker range

Vanguard is considering launching a cash fund and a property tracker fund as it looks to fill the gaps in its product range, which currently consists of 21 tracker funds.

Nick Blake, the head of retail and European product development at Vanguard, says: “We are looking at a property and cash fund but both are difficult propositions to pull off. There are not many property tracker funds available. So demand from investors is there but the challenge is what index do you track with property. We could track a global Reit (Real Estate Investment Trust) index.”

Blake adds there is demand for cash funds despite low interest rates.

He says: “Cash is a difficult area of the market because of low interest rates. By the time the fund manager has taken charges on the fund, it means that some investors are getting negative returns. We would still look at it because it is one of those temporary asset classes that advisers want to park money in as they are doing asset allocation in portfolios.”

Vanguard also says its second tranche of exchange traded funds will include developed market equity and bond ETFs but Blake says the firm has not set a date for the launch.



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