After nearly 14 years of low returns from cash, interest rates are suddenly increasing again and clients are asking how they can benefit from their cash against a backdrop of escalating central bank rates and difficult equity and bond markets.
It is worth remembering that it was only eight months ago, in December 2021, that the UK base rate was at an historically low level of 0.1 per cent after the Bank of England cut rates in response to the Covid-19 pandemic.
At that time, returns on cash deposits were virtually non-existent, and banks’ appetite for new cash deposits were very limited. The economy was awash with liquidity and as recently as February 2021 depositors were placing funds out for one year at a yield of below 0.1 per cent.
TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.
