Republic Money Market Fund

neilsingh100 · Postby **neilsingh100** » April 27th, 2009, 8:03 pm

Anyone know what interest rate the Republic Money Market Fund ($TT) is paying for April?

Website only has information for March.
http://www.republictt.com/1asp/personal.asp?f=rate_mfunds

SMc · Postby **SMc** » April 27th, 2009, 8:07 pm

Buh April not done yet..

pugboy · Postby **pugboy** » April 27th, 2009, 8:18 pm

are you aware that although the bank people advise to use this as a savings acct due to a little higher interest, this fund is not covered by the deposit insurance ?

equipped2ripp · Postby **equipped2ripp** » April 27th, 2009, 8:26 pm

isn't it at 6.10% for the longest while?

neilsingh100 · Postby **neilsingh100** » April 27th, 2009, 8:41 pm

interest rates on all money market funds going down (like UTC TT$ Income Fund)

wanted to know what RBL was going to adjust their interest rate to

Hammy Bolo · Postby **Hammy Bolo** » April 27th, 2009, 8:46 pm

5.7% currently- got it from a Money Market Fund sales Rep with RBL

equipped2ripp · Postby **equipped2ripp** » April 27th, 2009, 8:49 pm

5.7%... ouch!

well it DID went down then

UTC TTIF is 5.63%... last year it was well over 6.

Hammy Bolo · Postby **Hammy Bolo** » April 27th, 2009, 8:55 pm

Due to liquidity of cash now from by Do Pray, there is no big need for the banks to attract deposits thus deposits rates are falling- its simple demand and supply- lets hope it does not fall too fast and too often

Country_Bookie · Postby **Country_Bookie** » April 27th, 2009, 11:47 pm

pugboy wrote:are you aware that although the bank people advise to use this as a savings acct due to a little higher interest, this fund is not covered by the deposit insurance ?

Mutual funds are not covered by deposit insurance; this applies only to bank accounts such as chequing & savings accounts, as well as fixed deposits. Mutual funds in TT are incorporated in trust form, which means that the unitholders in the fund own the underlying assets of the fund; which in the case of money market funds is usually a mixture of gov't and corporate bonds, t-bills and fixed deposits.

The significance of that is that should the institution that sells the mutual fund go under, the assets of the mutual fund are isolated from that institution. Money market fund would not suffer a loss of principal unless the government and corporations, whose bonds they hold, default on their bonds.

ray d saint · Postby **ray d saint** » April 28th, 2009, 7:13 am

Country_Bookie wrote:
pugboy wrote:are you aware that although the bank people advise to use this as a savings acct due to a little higher interest, this fund is not covered by the deposit insurance ?

Mutual funds are not covered by deposit insurance; this applies only to bank accounts such as chequing & savings accounts, as well as fixed deposits. Mutual funds in TT are incorporated in trust form, which means that the unitholders in the fund own the underlying assets of the fund; which in the case of money market funds is usually a mixture of gov't and corporate bonds, t-bills and fixed deposits.

The significance of that is that should the institution that sells the mutual fund go under, the assets of the mutual fund are isolated from that institution. Money market fund would not suffer a loss of principal unless the government and corporations, whose bonds they hold, default on their bonds.

very well said!!