TREASURY AND FX SERVICES

 

Lesley Mahy Senior Manager, Cash Management Praxis Asset Management Limited
Praxis Asset Management Limited has been running a cash management service for a number of years. This service has been specifically developed for clients who prefer the stability offered by cash investments, but wish to maximise their returns without compromising the security of their investments.

By centralising our cash management service, we are able to negotiate highly competitive rates of interest from a range of offshore banks that would otherwise be unavailable to our clients on an individual basis.

Our systems allow us to open accounts and move money quickly without the need for the client to be involved in a bank’s normal lengthy account opening and KYC collection process. As a result it is easy for us to transfer cash between institutions to achieve greater security or higher interest rates.

RISK MANAGEMENT

Praxis Asset Management Limited operates a strict risk management policy which goes beyond a simple review of credit ratings. We maintain a list of core institutions and conduct ongoing reviews of all institutions with whom we deal.

PERFECT SOLUTION FOR FOREIGN-DOMICILED UK RESIDENTS

All the banks we deal with are based in offshore jurisdictions and therefore all interest is classed as overseas income.  We are fully aware of the sensitivity of inadvertently remitting funds to the UK.

INDICATION RATES AND LIQUIDITY PROFILES

Listed below are some sterling indication rates. The charge for the cash management service is 0.15% per annum.

Instant Access (annual interest)   1.45% gross (1.30% net)
Instant Access (monthly interest)  1.44% gross (1.29% net)

15 Day notice (annual interest) 2.40% gross - £500,000 & above (2.25% net) 
                                                         1.95% gross - £250,000 to £499,999 (1.80% net)
                                                         1.80% gross - £100,000 to £249,999 (1.65% net)

90 Day notice (annual interest)   2.60% gross - balances in excess of £100,000 (2.45% net)

Fixed Deposit  rate indications are available upon request and we are able to offer a range of liquidity profiles and other currency deposits to meet your needs.

FOREIGN EXCHANGE

Praxis Asset Management Limited also offers an FX service for your currency needs:

  • The major currencies (GBP, EUR and USD) are traded for same-day value, giving you immediate access to converted funds.
  • We are able to access excellent exchange rates which are typically less than 0.25% off mid-market rates.

FOR MORE INFORMATION CONTACT:
Lesley Mahy
Email lesley.mahy@praxisgroup.com
Tel +44 (0) 1481 728993