Santander Asset Management UK has launched a sterling denominated money market fund in partnership with L&G’s Asset Management business (L&G)
The offering, Santander GBP LVNAV Money Market Fund, aims to provide UK investors with capital stability and returns aligned with prevailing money market rates. Registered in Luxembourg, it will invest in a diversified mix of high-quality, short-term money market instruments, including deposits, commercial paper, certificates of deposit, sovereign notes and repurchase agreements.
The fund aims to offer stable value and competitive yields with a focus on capital preservation, shared the asset managers.
Santander Asset Management UK will act as distributor of the fund, while L&G will manage the portfolio. The fund offers daily liquidity with same-day settlement and will invest across a range of issuers, sectors and regions to provide diversified short-term exposure and support cash management.
Fund managers expect a surge in fund launches
Cassie Waller, CEO of Santander Asset Management UK, said: “With this launch, we are expanding our money market offering to serve UK clients looking for efficient, secure, and flexible liquidity management solutions. The Santander GBP LVNAV Money Market Fund reflects our commitment to providing investors with capital stability, transparency and a rigorous risk management approach.”
Eric Adler, CEO, Asset Management, L&G said: “We are delighted to provide Santander’s clients in the UK with access to our high-quality Liquidity Solutions through this partnership. It is yet another example of our build, buy, partner strategy in action and demonstrates the significant progress our Asset Management business is making in deepening its footprint across diverse client segments and key markets.”
