Cash account information

your CASH ACCOUNT

When you join the Investor Directed Portfolio Service (IDPS) or the HUB24 Super Fund (the Fund) a cash account is automatically established for you. The cash account represents the cash in your account (excluding any cash held in managed portfolios) and is used to settle all transactions relating to the investments held within your account and deduct any fees and charges applicable. 

How it works

When you first open an account for the IDPS or the Fund, you direct us to invest your money in your cash account until we receive investment instructions from your adviser. The cash in your cash account is held by a custodian (or sub-custodian), in a trust deposit account with Bank of Queensland Limited, ABN 32 009 656 740 (BOQ)^[1] and other authorised deposit-taking institutions (ADIs) we use from time to time. 

We will not withdraw any part of your cash account holdings except at your direction (which may include a standing instruction) or if required by law. 

You can find out more information about your cash account by referring to the most recent copy of the IDPS Guide or Super Product Disclosure Statement (PDS) which is available to you, free of charge, from your adviser or by contacting HUB24 Custodial Services Ltd (the Operator of the IDPS and Administrator of the HUB24 Super Fund) on 1300 854 994. 

^[1] Bank of Queensland Limited, ABN 32 009 656 740 (BOQ) has consented to being named on this page in the form and context in which their name is included and have not withdrawn their consent. 

CASH INTEREST RATE

The cash interest rate is calculated daily and paid to your cash account monthly on a positive balance in your cash account. Information on the current interest rate payable in respect of your cash account can be found on InvestorHUB. 

CASH MANAGEMENT FEE

The cash management fee is up to 1.75% p.a. of your cash account balance. The cash management fee is equal to the amount of interest received in relation to the cash held in your cash account, less the interest credited to your cash account after deduction of the fee.

This fee may vary from time to time, in line with changes to the interest received and/or credited in relation to the cash held in your cash account up to an amount of 1.75% p.a. of your cash balance.

You can find out more about the cash management fee by referring to the most recent copy of the IDPS Guide or Super Product Disclosure Statement (PDS) which is available to you, free of charge, from your adviser or by contacting HUB24 Custodial Services Ltd (the Operator of the IDPS and Administrator of the HUB24 Super Fund) on 1300 854 994.