Australian Cash Fund to close
NSW Trustee and Guardian responds to global economic climate with best value investment for customers.
NSW Trustee and Guardian is changing how we invest some of the money that is held with us for financial management customers and private financial management customers.
Right now, customers’ money is invested across up to ten different investment funds.
From Thursday 31 December 2020, we will be closing one of these funds, the Australian Cash Fund.
The move is in response to the broader global economic climate, where it is highly unlikely that interest rates will improve significantly in the short to medium term.
With interest rates at a record low, less money is being earned from this fund than from other funds available.
By closing the Australian Cash Fund, we aim to get the best interest rates we can for our customers’ money.
Money that is invested in the Australian Cash Fund will be reinvested in Access Fund. There will be no cost to customers or need to pay any tax from this change.
Customers will see how the money has moved in their next statement of account early next year.
Get in touch
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We are here to help you. If you are a direct financial management or private financial customer and have any questions, phone your client service team. If you don’t know the phone number, phone 02 8688 2600.