Pimco and Source have added to their 'Sterling Mint' range of exchange-traded funds (ETFs) with a sterling version of its short maturity funds.

The Pimco Sterling Short Maturity Source ETF follows the launches of euro and US dollar products. The London-listed fund has a management charge of 0.35 per cent per year.

Mike Amey, head of sterling portfolios at Pimco and fund manager, said investors would continue to look for higher yields.

He said, 'Sterling Mint is specifically designed to do this by taking an active approach to cash manement.

'It will fully utilise PIMCO’s expertise in analysing appropriate opportunities in short-dated securities both within the UK and globally, where hedged returns look sufficiently attractive.'

To receive more relevant articles like this one, why not sign up to our weekly newsletters, click here