October 14, 2022
UK money funds draw ‘gigantic’ inflows from pension funds
By admin | |
Sterling money market funds, which act as bank accounts for institutional investors, have gathered £53bn in just a fortnight as UK pension schemes rush to build liquidity defences against market volatility before the Bank of England’s emergency bond-buying programme ends. Managers of these funds anticipate large withdrawals related to LDI collateral calls.