NU launches cash fund

The fund will invest primarily in short-term cash and near-cash deposits and other money market instruments. It will be managed by Morley fund manager Richard Hallett. The provider believes the fund will appeal to customers who want a proportion of their investment portfolio held in a cash fund that aims to offer consistent returns in excess of the Bank of England base rate (before charges and tax). Neil Davies, director of investments at Norwich Union, said: “This is an important addition to our existing collective investment fund range and complements our equity, bonds and property fu...