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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.
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Ready to invest?
Tax-efficient investing, up to £20,000 a year Take a look at our ISA |
Funds are the most popular collective investment vehicle for UK investors. They allow smaller investors to pool their contributions to invest in a range of different assets such as shares and bonds. Funds usually carry the name of the provider, such as Jupiter, and some indication what they invest in e.g., UK equity income or emerging markets.
Funds can be managed in different ways based on their objectives, some of these include:
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Sustainable funds – A sustainable fund is one that is designed to have a specific environmental or social goal. The range of options is vast, from funds which seek out assets that focus on sustainability for people or the planet to funds that invest in assets which may not be sustainable now but where the manager aims to improve their sustainability. With so many options it’s important to do your research to find one which matches your own personal philosophy. |
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Growth funds - Growth funds aim to grow the value of your capital. The funds on our platform mainly invest in equities, allowing investors to share in the growth of multiple companies. Fund managers can achieve growth in several ways. Some buy companies whose true value they believe to be more than the current share price (value companies). Others look for companies with above average growth prospects. Not all funds in this space pay a dividend, as this is not necessarily their objective. |
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Income funds - These funds aim to provide an income in the form of dividends or interest. They will invest in income-producing assets such as bonds or property, or companies the fund managers believe offer strong prospects to pay dividends. The amount of any income may fall as well as rise and so too may the value of your investment. |
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Passive funds - These track or closely follow the performance of a particular market index (for example, the FTSE 100). If the index rises, the fund will too, and vice versa. Passive funds tend to be low cost as there is little research and day-to-day investment decisions are often automated. |
We also offer individual securities on the platform, including direct company shares, exchange-traded funds (ETFs) and investment trusts.
You can research each of these types of investments in the ‘Equity investments’ section of the website. For a more detailed introduction, look at our introductory pages.
Investment trusts are a type of fund – in that they are a collection of underlying shares in listed companies – but are held in a company structure, listed itself on a stock exchange. They have a board of directors who look after shareholder interests, who appoint a fund manager to run the assets in accordance with a particular mandate and set of objectives. These are often called ‘closed-ended’ funds, because there is a fixed number of shares, and one can only buy when someone is selling.
Exchange-traded funds are a type of passive fund (see above). They seek to replicate the returns of a chosen index, or subset of an index. Sometimes ETFs are constructed to follow the performance of an underlying asset, such as gold, or a theme, like renewable energy or cloud computing.
Direct shares give you a stake in a company that is listed on the stock exchange. Share ownership can provide multiple benefits to investors with an appropriate risk tolerance. Seen as higher-risk investments than funds – because your investment is concentrated onto the prospects of one company rather than several (as is the case with funds) and with you being solely responsible for choosing when to buy or sell – they can add a new dynamic to an overall portfolio.
Choosing one individual company may give you more of a vested interest in that company; perhaps you love its brands or products, have been a loyal customer for a long time, or hold some other affinity.
With a broad range of ready-made investments, Focus Funds and research tools to help inform your investment choices, it’s never been easier to open an account and purchase your selected investments. You can also contribute via debit card or setup a regular Direct Debit.
