An automatic fund (also known as 'sweep investiment', it´s a type of sweep investment , indeed). It´s a fund designed to sweep (varrer, tirar a raspa do tacho/da panela/as prováveis sobras que iriam ficar sem dividendos) and automatically go to a
fund (based in the "overnight", for example) in economese- transferred to a fund.
Aqui no Brasil até poupança rende mais, o problema é, o investidor só pode tirar decorrido um mês. Na poupança (também pode ser automática por aqui, ou já foi um dia), enquanto que no overnight você pode tirar no outro dia (com rendimento mixuruca, mas melhor que ficar parado dizem...os gerentes.)
Outra coisa, se você esquecer lá quando for tirar o rendimento é mixuruca, e quando você saca o imposto (ou taxas) come uma parte.
Se correr o bicho pega, se ficar o bicho come...
SWEEP Account - End-of-Day overnight sweep. Funds are transferred at 4:00pm (NY time) from your account maintained with BB-NY, and invested overnight abroad. Funds and interest return next morning.
Schwab Sweep Money Market Fund
At the end of each business day, sweep money market funds “sweep” uninvested cash into the fund, providing immediate liquidity and an automatic way to earn income on uninvested cash in the account.
Clients with total household assets of $500,000 or more are eligible for a sweep money market fund.
For clients with less than $500,000 in household assets, Schwab offers other cash features.
Mutual Fund Sweep Program Overview
First Horizon Bank makes it easy for you to invest with an option that automatically sweeps funds from your HSA checking account to purchase shares of mutual funds.
The Mutual Fund Sweep Program is designed for account holders who prefer a more automatic approach. You may have excess funds systematically swept from the interest-bearing checking account into an HSA Mutual Fund Account.
With the Mutual Fund Sweep Program, when the funds in the interest-bearing HSA checking account exceed $1,000 you may begin to have funds over that amount systematically "swept" to invest in the mutual funds you have chosen.
There is a $2.50/month administration fee for the Mutual Fund Sweep Program, but no transaction fees. This administration fee is for the systematic sweep of funds from the interest-bearing HSA checking account into the mutual funds you have selected whenever the account balance exceeds $1,000.
If you choose the Mutual Fund Sweep Program your available balance includes any funds in your HSA checking account and the value of any money market mutual fund shares held in the HSA Mutual Fund Account. Funds invested in other mutual funds shares will need to be exchanged for money market fund shares in order for those funds to be available to pay HSA checking account transactions. You can exchange shares of the mutual funds by logging on to your account through the www.firsthorizonmsaver.com website and providing these instructions.