Cash is king for Charcol

Professional Adviser
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Going against the current trend for fund managers to reduce their cash holdings ahead of a possible g...

Going against the current trend for fund managers to reduce their cash holdings ahead of a possible global economic upswing next year, mortgage lender Charcol has decided to pitch a cash savings product that will guarantee minimum returns 0.5% above the bank base rate. That means savers would currently get a rate of 5.5% on any amount between £500 up to a maximum of £25,000. However, the extra 0.5% will only apply until the end of the 2001/2 tax year, after which only the base rate will apply. Charcol says the product should appeal to investors looking to wait until the market...

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