Investing

CIBC Investors Edge - Where to Park Money Short Term

  • Last Updated:
  • Feb 11th, 2019 4:08 pm
[OP]
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Sep 14, 2009
397 posts
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Vancouver

CIBC Investors Edge - Where to Park Money Short Term

Was wondering if there are better money market fund alternatives to ATL 5000 or other options to park money on a short term basis?
12 replies
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May 11, 2014
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Not a lot of options but I think BTB100 is higher than ATL500. It pays 1.80%. MIP610 is 1.85%

Here is a compiled list I found but the rates are not updated.

http://www.canadiancapitalist.com/high- ... t-brokers/
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[OP]
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Sep 14, 2009
397 posts
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Vancouver
xgbsSS wrote:
Feb 1st, 2019 12:43 pm
Not a lot of options but I think BTB100 is higher than ATL500. It pays 1.80%. MIP610 is 1.85%

Here is a compiled list I found but the rates are not updated.

http://www.canadiancapitalist.com/high- ... t-brokers/
Thanks will look at those. Don't want to get locked into a GIC but really bummed I can't get anything like the HISA bonus rates offered by Tangerine, Simplii...
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Jun 15, 2012
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You could move funds
here...2.8% on savings account
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ukrainiandude wrote:
Feb 4th, 2019 8:22 pm
You could move funds
here...2.8% on savings account
Unless the funds the OP has is non-registered, it is not worth the transfer fees to move cash from a brokerage to a HISA at another bank. Otherwise, everyone would do this.
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Penalty Box
Apr 27, 2015
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xgbsSS wrote:
Feb 1st, 2019 12:43 pm
Not a lot of options but I think BTB100 is higher than ATL500. It pays 1.80%. MIP610 is 1.85%

Here is a compiled list I found but the rates are not updated.

http://www.canadiancapitalist.com/high- ... t-brokers/
Rates you published are for F series, I don't think individual investor can buy it, regular series A offer exact same 1.6% as ATL5000.
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gibor365365 wrote:
Feb 6th, 2019 12:03 pm
Rates you published are for F series, I don't think individual investor can buy it, regular series A offer exact same 1.6% as ATL5000.
Actually, alot of these you cant buy at a lot of brokerages. They are blocked, charge commisions etc.

It really sucks for those that want to hold cash at their brokerage
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Yeah, I did a quick scan of the offerings (I'm also with CIBC) and came to the conclusion that the ATL series is pretty much it.

The rates are roughly on par with the other HISA offerings, and you avoid the issue of minimum holding times, redemption penalties, etc. I think the only other possibility would be some ETF type money market funds or something like PSA which is an ETF; pays 2.2%. But depending upon the amount of money and the time you plan to hold it, the additional interest earned could be dwarfed by the costs of buying and selling the ETF.
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Apr 27, 2015
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sckor wrote:
Feb 8th, 2019 7:57 am
Yeah, I did a quick scan of the offerings (I'm also with CIBC) and came to the conclusion that the ATL series is pretty much it.

The rates are roughly on par with the other HISA offerings, and you avoid the issue of minimum holding times, redemption penalties, etc. I think the only other possibility would be some ETF type money market funds or something like PSA which is an ETF; pays 2.2%. But depending upon the amount of money and the time you plan to hold it, the additional interest earned could be dwarfed by the costs of buying and selling the ETF.
as per yahoo finance PSA yield is 1.66%
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Penalty Box
Apr 27, 2015
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sckor wrote:
Feb 10th, 2019 2:14 pm
2.2% according to the horse's mouth:
https://products.purposeinvest.com/fund ... vings-etf/

USD at 2.5%
https://products.purposeinvest.com/fund ... -cash-etf/

Though its never clear to me if that amount is before or after the 0.15% mgmt fee.
Depends how it's calculated probable....last year distributions ranged from 0.0537 to 0.917. I personally wouldn't touch it
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[OP]
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Sep 14, 2009
397 posts
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Vancouver
Appreciate all the replies and great info. I just want to keep my gunpowder dry for a bit so guess I have to live with 1.6% using ATL5000.

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