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Cash Management Trust Account
First introduced in 1980 and pioneered by Hill Samuel Australia (since 1985 Macquarie Bank) in response to the lack of high yielding deposit accounts offered by banks, Cash Management Trusts (CMT) became very popular during the eighties and nineties and promoted by advisers, dealer groups and Portfolio Platforms and Master Trusts who were able to receive commissions and fees from the providers.
Since the introduction of Online Savings Account the Cash Management Trusts accounts have not lived up to the High Yield tag and become more of a transactional vehicle with a reasonable interest rate.
The table below are some of the CMT's accounts with their latest interest rates on offer.
Since the introduction of Online Savings Account the Cash Management Trusts accounts have not lived up to the High Yield tag and become more of a transactional vehicle with a reasonable interest rate.
The table below are some of the CMT's accounts with their latest interest rates on offer.
