The wedge edge for businesses and trusts

Wedge, founded by former Fisher Funds portfolio manager David McLeish, is now making its on-call account available to businesses and trusts.

“We’re delighted to be launching Wedge for businesses and trusts. We’ve had a lot of interest from business owners since we launched. The product is perfect for businesses that have cash in the bank that they need to access but not with the frequency of a transaction account” Wedge chief customer officer Andy McLeish says.

“The impact of managing your working cash in a high interest Wedge on-call account can be significant, particularly if it’s currently earning no interest in a transaction account."

\Since the launch of Wedge in May, uptake from New Zealanders has been high, with the fund now approaching $100 million in funds under management in just four months.

“Savings Funds are quickly replacing bank savings accounts in New Zealand, just like they have been doing in the US for years. That’s because they offer all the benefits of a savings account, like a set rate of interest, on-call access to your money, and an easy to use app. But they also provide a much better return on your savings than banks will offer. "

The Wedge Savings Fund is a managed fund that provides savers with an on-call high interest savings account, backed by cash and fixed income assets which carry a very high weighted average credit rating of AA.