Barclay Global Investors (GBI) has launched a new Global Investors Libor + Fund which focuses on US and European asset backed security marke...

Barclay Global Investors (GBI) has launched a new Global Investors Libor + Fund which focuses on US and European asset backed security markets to deliver returns over short-term cash interest rates. The new fund, which replaces the BGI Euro, Sterling and US Dollar Select Cash Funds and is a sub-fund of the Dublin-registered BGI Cash Selection Fund. Jonathan Curry, the head of European Cash Management at BGI, said the new Libor + fund would “further add to the highly successful range of liquidity solutions” designed to meet the cash investment needs of clients. The new fund is able to invest in a broad range of fixed income and money market securities of investment grade quality, as well as derivatives such as exchange traded interest rate futures, interest rate swaps, credit default swaps and foreign exchange forwards. The fund, which has been awarded a "AA-f" rating by Standard & Poors, aims to benefit from multiple sources of return through a combination of physical assets and derivative instruments.