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Cash Reserve/Fund Supermarket Cash Funds

Both Cofunds and FundsNetwork offer investors a convenient way to keep money in a bank-backed cash deposit within a fund supermarket. Both supermarkets offer the option to hold cash 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:

These cash accounts are designed to allow investors to hold money destined for investments on their respective platforms. This can also allow investors to have an overview of all investable assets and therefore manage portfolios more effectively. Investments can be made in both unwrapped and wrapped holdings. Currently, the Fidelity CashManager Account can be operated by written instruction only, although this can be done through Bestinvest. Standard interest rates are currently 0.2% below Bank of England (BoE) base rate for the Fidelity CashManager Account and 0.4% below BoE base rate for the Cofunds Cash Account (N.B. Clients will receive the higher of this rate or zero).

Fidelity ISA Cash Park & Cofunds Cash Reserve:

These accounts allow investors to temporarily hold their Stocks & Shares ISA subscription in cash while earning a competitive rate of interest. The cash held in these accounts must be destined for eventual investments and this facility is especially useful at the end of the tax year. These accounts have the same terms as mentioned above; the Fidelity ISA Cash Park currently pays 0.4% below the BoE base rate, whilst the Cofunds Cash Reserve currently pays 0.4% below BoE base rate.

There is no initial charge for these accounts, however switching charges may apply. Please be aware they should be treated as temporary accounts for holding cash between making investments.

BofE Base Rate 0.50% 10/09/2015
FundsNetwork Cash Manager Account 0.30% 16/09/2015 Temporarily Fixed Daily FundsNetwork
FundsNetwork ISA Cash Park 0.10% 16/09/2015 Temporarily Fixed Daily FundsNetwork
Fidelity SIPP Bank Account 0.25% 16/09/2015 Temporarily Fixed Daily FundsNetwork
Cofunds Cash Reserve 0.10% 16/09/2015 Temporarily Fixed Daily CoFunds
Cofunds Cash Account 0.10% 16/09/2015 Temporarily Fixed Daily CoFunds

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