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Cash management trust account


RateCity Staff

By RateCity Staff

1 min read

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. Investors should be aware that CMT's do not carry the same government guarantee that regular savings accounts do and should consider how this relates to their own risk profile.

Make the most of your money today, compare savings accounts and work out your potential savings growth with our savings calculator. For more information visit our detailed savings account guide or follow our news articles to get the latest savings tips.

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