The term "Cash Funds" describes a type of Managed Fund that invests in short-term money-market type securities such as Bank Bills of Exchange, Government and Semi-Government bonds and other interest-bearing securities. The objectives of the Cash Funds are to provide a low risk investment together with a competitive return of income.
The At Call Fund and the Cash Management Fund are invested in short-term securities so investors have easy access to their money.
Currently the Select Term Fund invests 30% of the Fund assets in the Cash Management Fund and 70% of the Fund assets in the Long Term Fund (see Income Funds). This balance of assets generally allows the Select Term Fund to achieve a higher rate of return when compared with the other Cash Funds. However, investors in the Select Term Fund do not have the same level of access to their money and investment terms range from 3 to 6 months.
At Call Fund
- On demand withdrawals up to 5.00pm each business day
- Minimum investment of only $100
- Interest calculated daily and paid quarterly
- Highly competitive rate of return
- Deposit any time via BPAY
- Direct Credit Facility
Cash Management Fund
- 24 hrs notice of withdrawals up to 3.00pm each business day
- Minimum investment of $500
- Interest calculated daily and paid quarterly
- Highly competitive rate of return
- Deposit any time via BPAY
- Direct Credit Facility
Select Term Fund
- You can select an investment term of between 3 and 6 months and rollover terms as needed
- Minimum investment of $500
- Generally a higher rate of return than the Cash Management and At Call Funds
Direct Credit Facility
For all Funds other than the Select Term Fund, additional monies can be invested via direct credit. To set up a direct credit to add to your investment contact your bank, credit union or building society, or use their website to make payments from your cheque or savings account.
Payments from credit cards are not accepted. For more information on direct crediting your account contact your financial institution.
You cannot make outward payments from your account(s) with Tasmanian Perpetual Trustees using the direct crediting facility.
Your account will generally be credited the next business day after the payment is initiated.
To use the direct crediting system you must have an open account with Tasmanian Perpetual Trustees. If your account is closed, your payment will be rejected. If your payment is rejected we will refund you in full.
You cannot use direct crediting to re-open a closed account.
There are no additional fees or charges for using direct crediting to add monies to your account.
BSB Code 037-812
The BSB and Account Number are on your quarterly statement. You will need this information when making a direct credit payment.
BPAY
BPAY® is an electronic payment service offered by Australia's leading financial institutions as a core feature of internet and phone banking. It is a convenient, fast way to transfer money to your account with Tasmanian Perpetual Trustees.
For more information contact your nearest branch of Tasmanian Perpetual Trustees.
More Information
Past performance is not a reliable indicator of future performance. Tasmanian Perpetual Trustees Limited recommends that you seek independent professional advice that takes into account your investment objectives, financial situation, particular needs and/or other personal circumstances, before making any investment decisions. Tasmanian Perpetual Trustees Limited, MyState Limited and MyState Financial Limited do not guarantee the repayment of capital or the performance of the Funds or any particular rates of return from the Funds. A mortgage fund investment is an equity investment in a managed investment fund, and is not a bank deposit. Accordingly, there is a higher risk of losing some or all of your money than is the case with a bank deposit. In respect of withdrawal periods, withdrawal rights and investment periods, please note that whilst we expect to meet redemption requests within the periods stated, these periods may be longer subject to the nature of the assets of the particular Fund, the particular Fund’s liquidity, the Fund’s constitution and the Law. For additional information, please refer to the Fund’s PDS which is available free of charge at any Tasmanian Perpetual Trustees branch or online in product disclosure documentation.