Cashing in

Professional Adviser
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The smart investor exploits anomalies in the market to boost earnings with Oeic and Isa cash funds, says Paul Gibbs

When Threadneedle launched the UK Money Securities Fund in August 1997, it was the first money fund structured as part of an Open-ended investment company (Oeic). Now valued at over £130m, the fund aims to provide a secure haven for clients seeking security of capital with a competitive rate of interest. An FSA authorised cash fund can be operated either as an Oeic or as a cash unit trust. The rules are not the same ' even though both have the same sort of purpose. The Oeic structure is operated within the definition of 'securities funds', and a cash unit trust is operated within the de...

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