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Bestinvest

Cash Reserve/Fund Supermarket Cash Funds

Both Cofunds and FundsNetwork offer investors convenient ways to keep their money in a bank-backed cash deposit within a fund supermarket. Both supermarkets offer you an option for cash to be held within or outside of the ISA allowance. When base rates are low, interest rates tend to be unattractive.

Fidelity Cash Manager Account & Cofunds Cash Account:

Both offer investors a cash account into which the proceeds of fund sales can be deposited. ISA monies will lose their tax wrapper. Currently, the Cash Manager Account can be operated by written instruction only, although this can be done through Bestinvest. Standard terms are 0.2% below Bank of England (BoE) base rate for Fidelity and 2% below BoE base rate for Cofunds.


Fidelity ISA Cash Park & Cofunds Cash Reserve:

Both accounts give investors the opportunity to move their ISA Investments in and out of cash. This Facility is especially useful at the end of the tax year. Fidelity ISA Cash Park pays 0.2% above BoE base rate until 31st December 2009, after that date it will revert to 0.2% below, whilst the Cofunds Cash Reserve currently pays 0.4% below BoE base rate.

There is no charge to switch money into these accounts. Please be aware they should be treated as temporary accounts for holding cash between making investments.

BofE Base Rate 0.50% 12/01/2012
Fidelity Cash Manager Account 0.20% 31/01/2012 Temporarily Fixed Daily FundsNetwork
Fidelity ISA Cash Park 0.20% 31/01/2012 Temporarily Fixed Daily FundsNetwork
Fidelity SIPP Bank Account 0.65% 31/01/2012 Temporarily Fixed FundsNetwork
Cofunds Cash Reserve 0.10% 31/01/2012 Temporarily Fixed Daily CoFunds
Cofunds Cash Account 0.10% 31/01/2012 Temporarily Fixed Daily CoFunds

The value of your investments and the income from them can go down as well as up and you can get back less than you originally invested. Any yields quoted cannot be taken as a reliable indicator of future returns. Before investing in funds please check the specific risk factors on the key features document or refer to our risk warning notice as some funds can be high risk or complex. Prevailing tax rates and relief are dependent on your individual circumstances and are subject to change.

Bestinvest (Brokers) Ltd & Bestinvest (Consultants) Ltd are authorised and regulated by the Financial Services Authority. This site is for UK Investors only

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