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Cash funds

greenwich · 2005-10-19 16:34:27

One or two people have said here recently that they have opened dozens of savings accounts in the last year, chasing the best interest rate. I don't have whatever it takes to do that but it reminded me that about 10 or 15 years ago some investment firms started unit trusts called cash funds. The idea was that they would…

Comments

JEC Posts: 40 Forumite

21 October 2005 at 8:57AM

Useful thing to know. I think my costs would be about 0.5%, but if thats taken over the full value of the amount moved on both occasions, you could still be slightly worse off than before, even after the interest from the cash fund has been applied. Though, of course, if you're moving it because of something like the current situation, overall you'd probably be better off.

Thanks again.

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