Rates
Rates on this page:
Client Interest Program® (CIP)
To assist our clients in achieving a higher level of freedom and convenience with their investment transactions, the Client Interest Program can be used as a short-term depository for funds awaiting investment. While offering clients an attractive rate of interest on their available funds, CIP provides the assurance of knowing cash is protected up to $250,000 by the Securities Investor Protection Corporation (SIPC) in the event of the firm’s liquidation.
| Amount | Current Yield* | Annual Effective Yield* |
|---|---|---|
| Over $5,000 | 0.04% | 0.04% |
| $0 to $4,999.99 | 0.02% | 0.02% |
* Effective date: May 17, 2012. Rates subject to change without notice.
The Securities Investor Protection Corporation (SIPC) provides $500,000 of net equity protection, including $250,000 for claims for cash awaiting reinvestment. Please visit www.sipc.org for more information about SIPC coverage.
Raymond James has purchased excess SIPC coverage through various syndicates of Lloyd’s, a London-based firm. Excess SIPC is fully protected by the Lloyd’s trust funds and Lloyd’s Central Fund. The additional protection currently provided has an aggregate firm limit of $750 million, including a sub-limit of $1.9 million per customer for cash above basic SIPC for the wrongful abstraction of customer funds.
Account protection applies when a SIPC-member firm fails financially and is unable to meet obligations to securities clients, but it does not protect against market fluctuations.
Eagle Class of JPMorgan Money Market Accounts
As another alternative for clients seeking to achieve income on cash balances while protecting principal, we offer the Eagle Class of JPMorgan U.S. Goverment Money Market Fund and the Eagle Class of JPMorgan Tax Free Money Market Fund, which seeks to achieve income that is exempt from federal income tax. The minimum-required balance to participate in the automatic cash sweep program to these funds is $1,000. Clients with balances less than $50 in their money market accounts may periodically have their balances transferred to non-interest bearing cash positions. If the accounts subsequently reach $1,000 in available cash, the cash will be swept back to the applicable money market funds. The $50 balance transfer and $1,000 minimum policies do not apply to qualified retirement accounts.
Notice of Money Market Fund Changes for Raymond James
Cash “Sweep” Program, effective on or about March 16, 2012
Raymond James currently offers the Eagle Class of JPMorgan Prime Money Market Fund as a deposit option for the transfer, or “sweep,” of available cash balances (from securities transactions, dividend and interest payments, and other activities) in clients’ brokerage accounts.
Effective on or about March 16, 2012, Raymond James will replace this cash sweep offering with the Eagle Class of JPMorgan U.S. Government Money Market Fund.
The table below provides a comparison of the fees charged by the funds and a comparison of the investment objectives of the funds. Please review the table and the prospectus information provided for the Eagle Class of JPMorgan U.S. Government Money Market Fund.
Raymond James will effect this change in money market sweep funds by an automatic exchange at net asset value. Raymond James will redeem any shares held of the Eagle Class of JPMorgan Prime Money Market Fund and purchase shares of the Eagle Class of JPMorgan U.S. Government Money Market Fund in an equal value. All other features on your account will remain the same.
View the Eagle Class of JPMorgan U.S. Government Money Market Fund’s full prospectus online at http://www.eagleasset.com/pdfs/prospectus/SPRO-USGMM-E.pdf. For additional information, please contact your financial advisor or Raymond James Client Services at 800-647-7378.
Investors should consider the investment objectives, risks, and charges and expenses of money market funds before investing. The prospectus contains this and other information about the funds. The prospectus is available from your financial advisor and should be read carefully before investing.
An investment in the J.P. Morgan money market funds is not insured or guaranteed by the Federal Deposit Insurance Corporation 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 money market funds.
| Option Until March 16, 2012 |
Option After March 16, 2012 |
|
|---|---|---|
| Eagle Class of JPMorgan Prime Money Market Fund |
Eagle Class of JPMorgan U.S.
Government Money Market Fund |
|
| CURRENT YIELD | ||
| Current Yield (As of January 25, 2012) |
0.01 | 0.01 |
| OBJECTIVES | ||
| The Fund’s Objectives | The Eagle Class of JPMorgan Prime Money Market Fund aims to provide the highest possible level of current income while still maintaining liquidity and preserving capital. | The Eagle Class of JPMorgan U.S. Government Fund seeks high current income with liquidity and stability of principal. |
| ANNUAL FUND OPERATING EXPENSES (Expenses that you pay each year as a percentage of the value of your investment) |
||
| Management Fees | 0.08 | 0.08 |
| Distribution (Rule 12b-1) Fees | 0.25 | 0.25 |
| Other Expenses | 0.55 | 0.382 |
| Total Annual Fund Operating Expenses | 0.88 | 0.71 |
| Fee Waiver and Expense Reimbursements | (0.18)1 | (0.01)3 |
| Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements | 0.70 | 0.70 |
1 The Fund’s adviser, administrator and distributor (the Service Providers) have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses of the Eagle Class Shares (excluding acquired fund fees and expenses, dividend expenses relating to short sales, interest, taxes and extraordinary expenses and expenses related to the Board of Trustees’ deferred compensation plan) exceed 0.70% of their average daily net assets. This contract cannot be terminated prior to 7/1/12, at which time the Service Providers will determine whether or not to renew or revise it. In addition, the Fund’s service providers may voluntarily waive or reimburse certain of their fees, as they may determine, from time to time.
2 "Other Expenses" are based on estimated amounts for the current fiscal year.
3 The Fund’s adviser, administrator and distributor (the Service Providers) have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses of the Eagle Class Shares (excluding acquired fund fees and expenses, dividend expenses relating to short sales, interest, taxes, expenses related to litigation and potential litigation (beginning 7/1/12) and extraordinary expenses and expenses related to the Board of Trustees’ deferred compensation plan) exceed 0.70% of their average daily net assets. This contract cannot be terminated prior to 7/1/13, at which time the Service Providers will determine whether or not to renew or revise it. In addition, the Fund’s service providers may voluntarily waive or reimburse certain of their fees, as they may determine, from time to time.
Eagle Class Shares of JPMorgan U.S. Government Money Market Fund
Eagle has made available to its shareholders the exchange option into Eagle Class shares managed by J.P. Morgan Investment Management, Inc.
Eagle Class Shares of both the JPMorgan U.S. Government Money Market Fund and the JPMorgan Tax Free Money Market Fund are offered through JPMorgan Distribution Services, Inc. exclusively for clients of Eagle Asset Management, Inc. and its affiliates. JPMorgan and Eagle Asset Management, Inc. are unaffiliated companies.
An investment in the J.P. Morgan money market funds is neither guaranteed nor insured by the FDIC or any other government agency. Although money market funds seek to preserve the value of your investment at $1 per share, it is possible to lose money by investing in money market funds. Investors should carefully consider the investment objectives, risks, charges and expenses of money market funds before investing. The prospectus contains this and other information about the funds. View prospectus for Tax Free and U.S. Government funds. The prospectus is available from your financial advisor and should be read carefully before investing.
Raymond James Bank, RJBDP
Raymond James Bank* makes it possible to combine banking services with traditional securities and trust services, enabling you to take advantage of a broad range of financial support. All of your assets custodied at Raymond James can appear on one consolidated statement which will detail activity in all accounts each month. View additional Raymond James Bank rates.
Raymond James Bank Deposit Program (RJBDP)
| Rate is set by Raymond James Bank based on relevant competitive money market rates and various market factors. Rates set weekly. (last updated 5/17/2012) | ||
|---|---|---|
| Amount | Current Yield* | Annual Effective Yield* |
| Over $5,000 | 0.04% | 0.04% |
| $0 to $4,999.99 | 0.02% | 0.02% |
| Raymond James Bank Sweep Accounts with Checkwriting | ||
|---|---|---|
| A.P.Y. | Rate | |
| Over $5,000 | 0.04% | 0.04% |
| $0 to $4,999.99 | 0.02% | 0.02% |
Rates effective May 17, 2012. Rates subject to change without notice.
*A.P.Y. – Annual Percentage Yield (includes daily compounding of interest) – rates should always be quoted as an A.P.Y.
Raymond James Bank deposits are insured by the FDIC up to $250,000 per depositor* ($250,000 for IRAs and certain other retirement accounts).
Raymond James & Associates, Inc., and Raymond James Financial Services, Inc., are affiliated with Raymond James Bank, N.A., member FDIC. Unless otherwise specified, products purchased from or held at Raymond James & Associates are not insured by the FDIC, are not deposits or other obligations of Raymond James Bank, are not guaranteed by Raymond James Bank and are subject to investment risks, including possible loss of the principal invested.