Terry Devitt on Money Market Funds
When comparing the AIB demand deposit to the Pictet Short Term Money Market Euro Fund (2 year returns after costs including initial set up costs in year 1), the returns are shown gross of any tax due. These returns are simulated using current yields on the Pictet Short Term Money Market Euro Fund and an average current interest rate for deposits on demand in AIB. It assumes both stay consistent over that period. 2 year return period is chosen as it is reasonable period to project the trajectory of central bank interests rates, which is a key determinant of the returns in the Pictet Short Term Money Market Euro Fund. A stockbroker account is required in order to access the Pictet Short Term Money Market Euro Fund.
Deposit rates are based on a current AIB demand deposit account. Money Market Funds performance is based on current yields from Pictet Short Term Money Market Euro Fund net of any management, advisory or custody charges. All returns are shown before tax. Source: AIB, 31 July 2023