We are pleased to announce that all UBS Money Market Funds placed on the Moneybase platform can now be bought and sold at no cost.
With Money Market funds you can earn attractive interest rates in an investment that is considered extremely low-risk on the investment spectrum.
Currently, the Gross APY for Euro is 3.89% whilst the US Dollar is 5.36%, login to Moneybase to find out more.
You may withdraw your money anytime or sell the interest portion of units at anytime at no cost.
Send a bank transfer to your Moneybase IBAN to get started. The minimum amount you can place is just 10 euro, with no maximum amount.
Accumulate interest in 5 different currencies
For more details, you can also view the Key Information document of each fund in the details section of each money market fund also available below section.
FAQ
What is a Money Market Fund?
Money market funds are a kind of fund that is intended to offer investors high liquidity with a very low level of risk. They are a convenient way to access higher yields on cash instruments.
They are ideally used as a place to park money temporarily before investing elsewhere or making an anticipated cash outlay.
Where does a Money Market Fund Invest?
A money market fund invests in highly liquid, near-term instruments. These instruments include cash, high-credit-rating, debt-based securities with a short-term maturity, such as Central Bank Treasury Bills.
Money market funds are typically used as savings tools they are not suitable as long-term growth investments since they generate income but little capital appreciation.
I want to start earning interest, how do I get started?
After transferring money to your moneybase account by sending a bank transfer to your Moneybase IBAN, you can get started by going to the Moneybase web platform, clicking on the "Discover" in the main menu, and then clicking on Money Markets.
Alternatively, you can access the Moneybase Invest app, access the Discover menu and tap on Money Markets.
To place your order, select your preferred Money Market currency, click on Buy, enter the amount and confirm. You will receive an email confirmation once done.
Which currencies are available?
EUR, GBP, USD, CHF and AUD. The minimum amount is 10 in each currency.
How do I withdraw money?
You can withdraw your funds any time you like, completely free of charge.
To withdraw your money, click Portfolio, select the money market fund you wish to sell, enter the amount, and submit the order.
The cash value will be deposited to your account once the order is executed with interest pro-rata until the day you hold the units.
We aim to credit the funds to your account as fast as possible so that you can use them straight away. However, withdrawals may take a few business days to reach your account.
Are there any fees for Money Markets Funds
There are no buying and selling fees. We do NOT charge any annual servicing fees.
Do you charge a service fee?
No!, we always pass on the FULL interest to all our clients and do not charge any service fees.
I have seen other offerings that have a concept of Boosted rates, Do you offer it?
We always pass on the full “boosted rate”, to all our customers, no exceptions!
How can I view my Money Markets funds?
You can view these in your portfolio at any time.
Is my money safe?
Money Market Funds are classified as one the safest on the investment spectrum, aside from that you are also covered by the Maltese Investor Compensation Scheme.
Your money will be invested in a Money Market Fund which is a type of low volatility fund that banks and other large corporations commonly use to protect against inflation.
Your capital may be only at risk in the unlikely event of the NAV of the fund reducing, the APY turning negative.
Since the NAV can fluctuate, if you are unsure if this investment is suitable for you we encourage you to contact your investment advisor at Calamatta Cuschieri.
Are you a member of the Maltese investor compensation scheme?
Yes, Calamatta Cuschieri Investment Services Ltd is a member of the Maltese Investor Compensation Scheme ("Scheme"). Money and instruments entrusted with us are covered under the Scheme in line with the Investor Compensation Scheme Regulations (S.L. 370.09).
What is APY?
APY stands for Annual Projected Yield, which represents how much interest you would earn on an amount of money held for an entire year if the rate would remain constant.
The APY allows you to compare the rates of different accounts regardless of when and how they pay interest. For example, if you deposited €10,000 into a money market fund with an APY of 3%, this would mean you would have €10,001.64 on day 3, whilst earning interest on interest.
Day 1: €10,000
Day 2: €10,000 + (€10,000 X 3%/365) = €10,000.82
Day 3: €10,000.82 + (€10,000.82 X 3%/365) = €10,001.64
The APY of each currency fund changes on a daily basis.
The rate can go up or down depending on market conditions, rates tend to track central banks' rates so for example if the European Central Bank increases rates, the APY for EUR of the Money Market fund would also increase.
When will I start to receive interest?
You'll begin receiving APY when your trade is executed. A confirmation via email will be sent.
You can monitor the increase over time, via your portfolio.
Does Moneybase charge custody fees?
No Moneybase does not charge custody for holding any investments.
Key Investor Information Document (KID)
Below you can find the KIDs for the respective funds and also directly on the UBS website here
*The annual interest rate is presented as of 02/02/2024 and based on information received from the fund manager, UBS Funds (Lux). Please note that the annual interest rate changes on a daily basis and might move in an unfavourable direction. The value of your investments may go down as well as up and may be affected by changes in currency. The annual interest rates vary depending on currencies. For more information carefully examine the KID Document and Factsheet available on Moneybase platform in the instrument details section, or contact us at any time for assistance.
