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Cash interest explained |
You will receive interest on balances in your platform cash account at the prevailing rate.
Embark Investment Services Limited acts as the custodian for investments on the Willis Owen platform and is one of our strategic partners that provides our Willis Owen ISA, GIA, Junior ISA and SIPP.
Embark places cash with a number of banking partners for safekeeping and to provide the potential for you to earn interest on money in your platform cash account. By managing cash in this way, it aims to provide better protection and a higher overall level of interest than if all funds were placed with a single bank.
The rates of interest paid by banks will vary. Embark retains a portion of the interest earned to cover its costs in managing platform cash.
Current Interest Rate
The table below shows the current customer interest rate payable on cash balances along with the amount of interest retained by Embark. The customer interest rate shown is that after accounting for interest retained by Embark:
| Date From | Customer Interest Rate | Interest retained by Embark |
|---|---|---|
| 25th March 2024 | 2.46% | 1.75% - 2.00% |
Embark can change the rate of interest at any time and it reviews the position at least quarterly. Interest is calculated and accrued daily and is credited to your account on the first of each month. If you transfer out, accrued interest is applied at the point of transfer. We will inform you if and when the interest rate changes as soon as is practicable.
Interest retained
The table below shows the yearly equivalent rates of interest Embark expects to pay based on a range of possible yearly interest rates it may earn.
| Interest Embark expects to earn | Customer Interest Rate | Interest retained by Embark |
|---|---|---|
| 0-1% | 0 – 0.46% | 0 – 0.54% |
| 1-2% | 0.46% – 0.94% | 0.54% – 1.06% |
| 2-3% | 0.94% – 1.46% | 1.06% – 1.54% |
| 3-4% | 1.46% – 2.02% | 1.54% – 1.98% |
| 4-5% | 2.02% – 2.61% | 1.98% – 2.39% |
| 5%+ | 2.61%+ | 2.39%+ |
Historic Interest Rates
To see details of historic customer interest rates, along with the amount of interest retained by Embark, click here.
Here you’ll find a simple explanation of some of the most commonly used investment terms. If there is any other financial jargon you want translated, please call our Customer Service Team free on 0800 597 2525 or email us at enquiries@willisowen.co.uk and they will be pleased to help.
Effective duration provides a measure of a fund’s interest-rate sensitivity.
The longer a fund’s duration, the more sensitive the fund is to shifts in interest rates.
The relationship among funds with different durations is straightforward: A fund with duration of 10 years is expected to be twice as volatile as a fund with a five-year duration.
Environmental, Social and Governance (ESG)
This is a collective term for a business's impact on the environment and society as well as how robust and transparent its governance is in terms of company leadership, executive pay, audits, internal controls, and shareholder rights.
It measures how a business integrates environmental, social, and governance practices into operations, as well as its business model, its impact, and its sustainability.
The amount of any undistributed income already included in the price of the units/Shares at the time of investment. Read the full help article.
A type of fund that invests predominantly in shares/stocks of companies. Growth funds are often invested in equities. They can be either actively or passive managed.
Exchange-traded commodities (ETCs)
A type of security which tracks the price of a commodity (for example copper or coffee) or a commodity index.
Exchange-Traded Products (ETPs)
Exchange traded products (ETPs) are investments that are traded on a stock exchange and which invest in underlying securities or assets. They often passively follow an index or other benchmark, but they may be actively managed.
There are several types of ETP, these include: exchange traded funds, exchange traded notes and exchange traded commodities. They help you gain investment exposure to a wide range of markets or securities, but they are not suitable for all investors.
Some funds may employ exclusions, which means they are prohibited in investing in certain sectors, companies or practices.
A service that is undertaken upon the instruction of a client but that does not provide advice.
The proportion of a fund that is invested in a particular asset class, or particular share or bond or other investment, expressed as a percentage of the value of the fund.
Authorised funds are subject to rules that set limits on such exposures.
A resolution proposed at a meeting of unitholders or shareholders and carried if 75% or more of the total number of votes cast for and against the resolution vote in favour of it.
