Super clients eye cash options
Dean Thomas
A growing number of superannuation clients are seeking to place their money in cash investments as market volatility looks set to continue indefinitely, according to Asgard Wealth Solutions general manager Dean Thomas.
Thomas said recent market turmoil has prompted a growing number of investors to park cash either until volatility subsides or they feel the time is right to take advantage of other investment opportunities, such as gearing.
“While we have not seen a dramatic rush to cash by advisers and their clients during the recent market turmoil, we have seen a slowing in investors moving existing cash and distributions back into the market,” he said.
“It’s good to know in these circumstances that your platform has good cash options.”
According to Thomas, competitive interest rates (of between 5.9 and 6.25 per cent), low fees and the flexibility of Asgard’s eCASH and CASH Connect accounts, available to investment and superannuation clients and self-managed superannuation funds, are contributing to their growing popularity.
“[W]e now hold more than $1 billion in our eCASH and CASH Connect accounts,” he said.
“[W]e believe our cash investments are a positive option for advisers and their clients to house funds in advance of taking advantage of gearing in super opportunities, which was approved in recent federal legislation.”
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