BlackRock has teamed up with investment platform Lightyear to launch a suite of money market funds for retail investors.
The three distributing money market funds, denominated in USD, GBP and EUR will come with low, transparent pricing. Lightyear fees start at 0.09% and go to a maximum of 0.3% - with no high barrier to entry. The funds aim to maintain a net asset value of $/€/£ 1 per share, while any excess earnings generated through interest on the portfolio holdings will be distributed to investors via dividends. Meanwhile, investments will include highly liquid, short-term debt instruments. They will trade and are priced daily directly with BlackRock. Customers will receive a daily return, paid into...
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