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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.

Multi-asset investing

What is multi-asset investing?

Multi-asset investing is an approach involving the blending together of different asset classes with a view to improving performance and managing risk. Rather than buying individual funds which focus on a specific asset class, region or sector, you can buy individual multi-asset funds containing an appropriate blend of different types of assets. Multi-asset fund's objectives can be risk oriented and some fund providers will have a series of funds with different risk levels. In these funds, the lower risk options will have greater exposure to lower risk assets such as cash and bonds and funds on the higher risk scale will have greater exposure to assets such as equities.

Multi-asset funds can be a good entry point to investing for less experienced investors for the following reasons:

  • Simplicity – they can offer a one-stop investment solution so you don't need to build your own portfolio
  • Time savings – no need to research individual assets as the asset allocation is decided for you based on the fund's objectives
  • Exposure to a range of assets – spreads the investment risk as different assets may perform differently based on the economic environment
  • Ongoing management by a professional - the fund manager will rebalance the assets to ensure the fund remains in line with its objectives and any risk parameters
Whilst multi-asset funds take a lot of the research and decision making process away from you, it is still important to regularly review your investments to ensure they remain right for your own goals and tolerance and capacity for risk.

What is a multi-manager fund?

A multi-manager fund is a type of multi-asset fund which invests in other funds rather than individual assets. Professional managers hand pick a variety of funds that they believe are the 'best in market'. Their aim is to select strategies from leading managers across the fund management industry on the basis of their assessment of the fund manager’s ability to do well in the prevailing investment environment. They would also bear in mind how each fund would complement each other within the portfolio.

There are two types of multi-manager funds; those that invest in a range of other funds managed by different fund managers, which are called Funds of Funds (FoF), and those that appoint external managers with specific expertise to invest separate tranches of the portfolio; these are called Manager of Managers (MoM) Funds. Due to these additional resources, these funds may have higher fund management charges.

The aim of these funds is to add an extra layer of diversification either through holding funds that have already gone through a process of diversification themselves, or by segmenting a portfolio and outsourcing its management to individuals who have been identified as having proven experience in a particular area.


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