For information on the MLC Wrap Series 2 Cash Account click here.
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:
|Investment||Target asset allocation|
|NAB Professional Funds Account||76%|
|Cash Account Income Fund||12%|
|A bank account with NAB||12%|
The target rate of return on the cash holding is the RBA Cash rate less 0.50% pa. 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|
|31 December 2013||0.54%||2.41%|
|30 September 2013||0.61%||2.58%|
|30 June 2013||0.65%||2.74%|
|31 March 2013||0.57%||2.93%|
If you have any questions, please speak with your financial adviser or call us on 132 652 from 8am till 6pm (AEST / AEDT), Monday to Friday.
Note: The actual asset allocation may vary from time to time for different Services. Therefore, the distribution rate may vary slightly between different Services.