The funds listed by Occam and myself earlier in this thread were nearly all unlisted managed funds, so liquidity not really an issue.
Agree with you about liquidity dangers with the thinly traded LICs and I am wary of them for that reason or only invest small amounts.
For higher returns than cash but little risk, the Smarter Money funds are worth a look. I use both the Smarter Money fund and Smarter Money higher income fund. Both return about 4% per annum, a bit higher with the higher income fund, and they use cash plus FRNs ( mostly bank issued) so not exposed to rising interest rate price falls that usual bond funds are exposed to.
