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Purpose High Interest Savings Fund (PSA)
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CI High Interest Savings ETF (CSAV)
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Global X High Interest Savings ETF (CASH)
Q: Hello, Looking to take a position in a GIC type investment with the ability to withdraw funds quickly and with no penalty. I came across this fund, wondering your opinion? Do you prefer any other funds that fit this description? Thank you
5i Research Answer:
There are several options in this category, such as PSA, HISA and CSAV. All are similar and we are comfortable with them. They are not guaranteed like a GIC, but are about as safe as one can get without a specific government guarantee. Yields vary but are generally very tight, and we are largely indifferent here. Not all brokers will offer all of these, so much depends on what is offered.
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in PSA.