Ascentric is launching a deposit account from Investec to tap into the growing appetite for cash as investors shun volatile equity markets.
The 30 Day Notice Account provided by Investec Private Bank is initially available to SIPP and SSAS investors only. It will sit alongside the cash and fixed term deposits on the platform. Rates on the account range from 1.98% to 2.96%, depending on the balance (gross monthly). Lionel Ross, pension and trust specialist at Investec Private Bank, says: "Over the last two years or so many investors have increased the cash allocation of their pension fund to reduce their exposure to volatile equity markets. "However, our research shows that most SIPPs are offering poor returns on the ca...
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