JP Morgan Asset Management (JPMAM) head of international ETFs, Bryon Lake, believes cash is back as a viable asset class.

He says that a 'wall of worries' including the end of a 10-year bull market in equities, a rising rate environment and geopolitical tensions, are driving investors towards ultra-short duration cash-like ETFs as they begin to appear as a more attractive proposition.

JPMAM recently launched three versions of ultra-short income ETFs in dollars, sterling and euros, catering to UK investors.