eInvest Cash Booster Fund
eInvest has launched a cash fund - the eInvest Cash Booster Fund - on the Chi-X Australia stock exchange with the ticker ECAS.
The fund is managed by eInvest affiliate Daintree Capital, and invests in cash, term deposits, short-term money market and fixed income securities. It seeks to provide investors a return equal to the RBA cash rate (currently 0.75 per cent) plus 0.5 per cent (after fees).
“With interest rates where they are, many investors are looking for more from their term deposits. We are pleased to help meet investor’s needs by offering them a liquid, diversified, cost-effective solution that seeks to preserve capital, while maximising current income above what is generally offered through cash products," director of Daintree Capital, Mark Mitchell, said.
The fund has an investment management fee of 0.15 per cent per annum.
Perennial Investment Management is the Responsible Entity and issuer of eInvest funds.