NEW: Old Mutual launches USD Money Market Fund

Online Reporter

Old Mutual Zimbabwe has launched a United States dollar (USD) Money Market Unit Trust Fund, which will allow local investors to invest on the local US dollar money market.

According to a circular from Old Mutual, the fund will invest in US dollar-denominated local money market instruments with a term of not more than 12 months.

“The funds aim to generate US dollar income and provide liquidity in the short term.

“The Funds’ benchmark is inflation as measured by the US Consumer Price Index.”

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