The latest in funds and investments around the world.

Vanguard
US investment platform Vanguard has launched the UK-domiciled Vanguard Sterling Short-Term Money Market Fund. The new fund is managed by the group’s fixed income division and carries an ongoing charge of 0.15 per cent (for GBP shareclass) and 0.10 per cent (for institutional plus GBP shareclass).

Vanguard currently manages around £240 billion ($297 billion) in money market strategies for global investors. Its head of product for Europe, Matthew Piro, said the fund is designed to focus on short-dated high-quality investments that provide capital stability, high credit quality, liquidity, and that minimise risk. "This can, potentially, make it a good place to invest cash with short-term requirements; whether that’s managing income, purchasing a car, or paying out a deposit," he said.