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Ignis launches USD and EUR share classes for Sterling Short Duration Cash Fund

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Ignis has introduced US dollar and euro share classes for its GBP1.3bn Sterling Short Duration Cash Fund, enabling institutions with euros or US dollars to invest in their base currency without taking exchange rate risk.

The Ignis Sterling Short Duration Fund returned 0.89 per cent in the 12 months to 31 January 2014 compared to the UK Interbank three month LIBOR benchmark return of 0.51 per cent.
 
The fund has continued its strong performance this year with an annualised return for January of 1.2 per cent.
 
Brian Jack, head of liquidity, says: “Money markets were extremely tough in 2013 as official interest rates remained anchored at historic lows and bank’s continued to de-lever, and so to again deliver excellent relative performance across our fund range was especially pleasing.
 
"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.”

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