As the cash holding is used for all transactions on the account, every MLC Wrap account is required to invest an amount in the cash holding. For the minimum requirement applicable to each MLC Wrap product, please refer to the relevant Product / Service Guide.
The cash holding is allocated across the following three investments:
Interest is calculated daily and paid to the cash holding quarterly. You earn interest on your cash holding balance, however, interest will be charged if your balance is negative.
The table below shows the interest applied to the cash holding each quarter.
|Quarter ending||Distribution rate||One year performance|
|30 June 2013||0.65%||2.74%|
|31 March 2013||0.57%||2.93%|
|31 December 2012||0.71%||3.29%|
|30 September 2012||0.76%||3.74%|
If you have any questions, please speak with your financial adviser or call us on 1300 428 482 from 8am till 6pm (AEST / AEDT), Monday to Friday.