Imagine if the fund manager Colonial only invested in Commonwealth Bank stock or imagine it was MLC, with its only assets being shares in National Australia...

Imagine if the fund manager Colonial only invested in Commonwealth Bank stock or imagine it was MLC, with its only assets being shares in National Australia Bank. It might sound far fetched but this is precisely what is going on in another asset class. That asset class is cash. An investigation by Business Day has found the big four banks are using their cash management operations as a source of cheap funding. So their wealth management customers are being dudded, because the organisations holding their money are settling for lower returns by investing only with their parent companies, rather than seeking best return out in market. Read more: (VIEW LINK)