The Savvy fund’s risk indicator is currently at 2. But there are other specific risks associated with the Savvy fund. You can learn more about these risks, the risk indicator and more in the Savvy fund’s Product Disclosure Statement.
Think of a risk indicator like a report card but for investment returns. It helps you understand how wild or calm the ride might be.
The Savvy fund wants to give you a place to put your money that you can use for your everyday spending, while giving you a set rate of return which gently grows savings over time without jolts or surprises.
It aims to keep the value of your investment stable and ensure you’ve got ready access to your money when you need it. It’s designed to offer returns that are competitive with on-call transactional accounts.
Booster takes a small fee for managing your money in the Savvy fund – but not from your balance. Instead, it comes from the returns on investments in the fund and is capped at 0.6%. This fee is taken after covering the costs of running the fund and after your set return is paid.
If you make any international transactions, there’s an additional 2% fee. And keep an eye out for other charges like those for replacing a lost debit card or issuing a chargeback. Savvy isn’t involved in any surcharge merchants may apply.
The Savvy fund is about measured returns and ready access.
Its investments are tucked away in lower-risk places like cash, bank deposits, and shorter-term bank and government debt securities. Savvy is designed to ensure your funds are, readily accessible whenever you need it.
Savvy has a Product Disclosure Statement, which you must read before signing up to Savvy, as well as other important documents.
You can compare Savvy with typical on-call transactional accounts, see a statement of our investment policy and objectives, read the accidental death cover policy that every user who has funded Savvy is covered by and look at the notice of dispute transaction form which you will need if you want to, well, dispute a transaction. We’ve also got a pdf covering other material information, which gives you details not covered by the PDS but which you might find useful.
It is important to understand the terms and conditions of any financial product or service. Savvy has a terms and conditions document you can read here.
It goes into things such as how to use your physical and digital card, what to do if you lose your card, how to lodge a transaction dispute and much more. Please read through this carefully as the terms and conditions are part of your agreement with Booster if you want to use Savvy.
Funded your Savvy account? You get free $2k accidental death cover on top of what you already enjoy. No paperwork, no fuss.
