Through Baird's Cash Sweep Program, Baird offers the opportunity for a client's cash balances to be "swept" into an interest-bearing deposit account maintained at either The PrivateBank or U.S. Bank for account cash balances. Clients with household account values of $250,000 or more may also establish taxable and tax-exempt money market mutual funds for their cash through Dreyfus. This page offers more information, including frequent rate updates and prospectuses.
Any balances held in a bank deposit account or in shares of money market mutual funds may be liquidated on a client's order and the proceeds returned to the client's account or remitted to the client.
Each account offers easy access to funds through a Baird Financial Advisor. Interest and dividends paid on your securities at Baird can be deposited automatically into your cash sweep account.
|The PrivateBank and US Bank Deposit Account:
Cash Sweep Program Disclosure [PDF]
Different interest rates apply based on a client’s household account values, as follows:
|Bank Deposit Account
as of 02/11/16
|Tier 1: Less than $250,000||0.01%|
|Tier 2: $250,000 - $999,999||0.01%|
|Tier 3: $1,000,000 - $1,999,999||0.03%|
|Tier 4: $2,000,000 - $4,999,999||0.03%|
|Tier 5: $5,000,000 or more||0.05%|
The Bank Deposit Account is not a money market mutual fund. Rather, it is a deposit account held at either The PrivateBank or U.S. Bank. Because of this, an investor’s deposits in this account are insured by the Federal Deposit Insurance Corporation (FDIC) up to the limitations as described in detail in the Information Statement. The applicable interest rate will accrue as described in detail by the Summary Fact Sheet at a rate determined monthly by Baird. The Information Statement and Summary Fact Sheet can be viewed and printed by selecting the insured deposit account listed above.
|Money Market Funds
(available only for household account values of $250,000 or more)
As of: 02/11/16
|General California Municipal Money Market Fund||0.01|
|General Government Securities Money Market Fund||0.01|
|General Money Market - Class B||0.01|
|General Municipal Money Market - Class A||0.01|
|General Municipal Money Market Fund||0.01|
|General New York Municipal Money Market Fund||0.01|
|General Treasury Prime Money Market Fund||0.01|
|Gen. Gov’t Securities and Gen. Treasure Prime Mny Mkt Fund Supplement||0.01|
|Money Market Funds
(available only for Managed IRAs and Qualified Plans)
As of: 02/11/2016
|Dreyfus Government Cash Management||0.18|
|General Money Market - Class A1
Performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns of money market mutual funds will fluctuate so that an investors’ shares when redeemed, may be worth more or less than their original cost. The funds' current performance may be lower or higher than the performance data quoted.
An investment in a money market mutual fund is not insured or guaranteed by the FDIC or any other government agency. Although the funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund.
Investors should consider the investment objectives, risks, charges and expenses of each money market mutual fund carefully before investing. This and other information is found in the prospectus. To view and print a prospectus, please select from the funds listed above. Please read the prospectus carefully before investing.
1 Available only for ERISA qualified plans, IRAs and similar tax-exempt retirement plans and accounts with which Baird has an investment advisory relationship, regardless of account size.