No interest on cash investment

smudge22

I have invested £170000 with a discretionary management service over the last 2 years. They confirm that interest is paid on cash held on account, however I have been allocated no interest over the last 2 years, they say cause the Bank of England interest rate has been so low, but they also say that a lot of my investment has been held in cash for caution. I have requested a statement showing the cash held, day by day over the period. I hasten to add I am querying various things with them at the moment.
Is this normal, any advice would be appreciated.

dunstonh

Is this normal, any advice would be appreciated.

It varies with the terms you agree. However, quite a lot have a floor limit that they stop paying interest when the base rate falls below a certain amount. Not all.

The cash account for investments is not really meant for cash savings (Although some platforms already or are in the process of launching savings accounts within them and some DIMs use platforms although its mostly IFAs and DIY that do). The cash account is for paying charges, receiving rebates, tax etc and temporary holding pending reinvestment.