This is an actively managed exchange-traded fund (ETF) that invests in GBP-denominated short-term investment grade debt. Typically the debt it holds has an average maturity of 0 to 1 years. The ETF is intended to generate income while preserving and growing capital. Income received is distributed.
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I thought it worth highlighting that, even this is being marketed by Freetrade as a shortterm product and place to park you cash to track bank interest rates, there is a 3% entry and exit fee charge by the ETF which will erradicate any short term gains and will require around 15 months to recoup the investment to +0% gain. Watch out and always read the small print!
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Not quite true for an average investor.
“*Because the fund is an ETF, investors will typically only be able to buy or sell
shares in the secondary market. The entry and exit charges outlined here are not
applicable to such secondary market investors.”