"Commonwealth Cash Management Trust is issued by Colonial First State Investments Limited ABN 98 002 348 352 AFSL 232468, (CFSIL) a wholly owned subsidiary of Commonwealth Bank of Australia. Commonwealth Bank of Australia and its subsidiaries (including CFSIL) do not guarantee, or in any way stand behind, the performance of Commonwealth Cash Management Trust or the repayment of capital by the Trust. Investments in the Trust are not deposits or other liabilities of Commonwealth Bank of Australia or its subsidiaries and investment-type products are subject to investment risk, including possible delays in repayment and loss of income and principal invested."
"Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia and a Participant of the ASX Group.
Commonwealth Bank of Australia and its subsidiaries do not guarantee the obligations or performance of Commonwealth Securities Limited or the products or services offered."
Think there is any guarantee? Read page 22 of the Commsec FSG....
All tarred with the same brush.....Does any bank state they "Guarantee..." All I see with the banks is the term "do not guarantee" used consistently.
The only thing guaranteed is that banks will always get the money in the event of any major problems, be it yours or theirs and they will use teams of lawyers and investors money to get it. But it's ok...they are there to help us....rolol
