The smart, safe, and flexible way to earn more on your cash

No lock ups
Unlimited transfers
Safely grow your cash & SRS with no limits or tiers
Assets safely held in your own name at UOB Kay Hian
Daily accrual on interest
returns
100%
No sales fees
No transaction fees
100% trailer fee rebates
Managed securely by Singapore’s biggest money managers

Make more in one month than you would in a whole year with your bank deposits

Work your cash harder & smarter. Endowus Cash Smart helps you to access the best cash, money market, and short duration bond funds in the industry, at the lowest cost achievable. You will be provided with an advised portfolio suitable for your goals so your money never misses a day without working.

What are the underlying funds and holdings in Cash Smart?
0.12%
Banks saving deposits
0.9% to 1.1%
Core
1.7% to 2.0%
Enhanced
projected returns
View details

When you should be Cash Smart

Earn higher returns for your cash sitting in your current or savings account set aside for an upcoming expense. A flexible alternative to fixed deposits without the lock up. A place to park your cash and salary before investing - your money should never sit idle. It should be working smarter for you.

Two choices for your cash

Enjoy the flexibility of choice between two optimised portfolios managed by Singapore's biggest money managers, both giving you projected returns significantly higher than deposit rates. Your cash in your control, on your terms, meeting your needs.

Safely held in your name at UOB Kay Hian

When you create an Endowus account, we will create a trust account in your own name at UOB Kay Hian, Singapore's largest broker. Your trust account will safely handle your assets and process all the transactions you make on the Endowus platform.

High yield. Low fees.

Core
Enhanced
Description
Safe & Sound

We combine a cash fund that invests in institutional fixed deposits for Singapore’s biggest institutions with Singapore’s best performing money market fund. Unlikely to ever have a day of negative performance.

Enhanced Yield

We combine the best performing money market fund and short duration fund from the biggest SGD money managers to give your cash a boost in yield. Advised for cash needs >1 month away for extremely rare periods of negative performance.

Underlying funds
  • 50% Fullerton SGD Cash Fund
  • 50% LionGlobal SGD Enhanced Liquidity
  • 50% UOB United SGD Fund
  • 50% LionGlobal SGD Enhanced Liquidity
Projected return p.a.
How is this range calculated?
1.2% to 1.4%
2.0% to 2.3%
Net fund-level fees after trailer rebates
(0.18%)
(0.30%)
Endowus Access Fee per year
(0.05%)
(0.05%)
Projected return p.a. after all fees
0.9% to 1.1%
1.7% to 2.0%
Core
Safe & Sound

We combine a cash fund that invests in institutional fixed deposits for Singapore’s biggest institutions with Singapore’s best performing money market fund. Unlikely to ever have a day of negative performance.

Underlying funds
  • 50% Fullerton SGD Cash Fund
  • 50% LionGlobal SGD Enhanced Liquidity
Projected return p.a.
How is this range calculated?
1.2% to 1.4%
Net fund-level fees after trailer
rebates
(0.18%)
Endowus Access Fee per year
(0.05%)
Projected return p.a. after all fees
0.9% to 1.1%
Enhanced
Enhanced Yield

We combine the best performing money market fund and short duration fund from the biggest SGD money managers to give your cash a boost in yield. Advised for cash needs >1 month away for extremely rare periods of negative performance.

Underlying funds
  • 50% UOB United SGD Fund
  • 50% LionGlobal SGD Enhanced Liquidity
Projected return p.a.
How is this range calculated?
2.0% to 2.3%
Net fund-level fees after trailer
rebates
(0.30%)
Endowus Access Fee per year
(0.05%)
Projected return p.a. after all fees
1.7% to 2.0%
Core
Safe & Sound

We combine a cash fund that invests in institutional fixed deposits for Singapore’s biggest institutions with Singapore’s best performing money market fund. Unlikely to ever have a day of negative performance.

Underlying funds
  • 50% Fullerton SGD Cash Fund
  • 50% LionGlobal SGD Enhanced Liquidity
Projected return p.a.
How is this range calculated?
1.2% to 1.4%
Net fund-level fees after trailer
rebates
(0.18%)
Endowus Access Fee per year
(0.05%)
Projected return
p.a. after all fees
0.9% to 1.1%
Enhanced
Enhanced Yield

We combine the best performing money market fund and short duration fund from the biggest SGD money managers to give your cash a boost in yield. Advised for cash needs >1 month away for extremely rare periods of negative performance.

Underlying funds
  • 50% UOB United SGD Fund
  • 50% LionGlobal SGD Enhanced Liquidity
Projected return p.a.
How is this range calculated?
2.0% to 2.3%
Net fund-level fees after trailer
rebates
(0.30%)
Endowus Access Fee per year
(0.05%)
Projected return
p.a. after all fees
1.7% to 2.0%
Projected return calculated as of 20 August 2020
Minutes to onboard.
Years to earn.
Multiples of difference.
No lock-up, no limits.
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How do I choose between Endowus Cash Smart Core and Cash Smart Enhanced?

We advise you to manage your cash based on when you need to use it.

Endowus Cash Smart Core is for your cash that you need in the upcoming days or weeks. It is safer than Cash Smart Enhanced and is unlikely to ever have a day of negative performance. Its worst historical drawdown (negative return from peak to trough) was less than 0.2%. Cash Smart Core has a target return of 1%+ per annum.

Endowus Cash Smart Enhanced is for the cash you need in the coming months.
It has more volatility than Cash Smart Core but rarely has a period of negative performance. Its worst historical drawdown (negative return from peak to trough) was less than 1%. Cash Smart Enhanced has a target return of around 2% per annum.

How is the projected return range calculated for Cash Smart? Why are the projected returns rates a range?

We use a projected return range rather than a fixed yield to provide maximum transparency to our clients about the varying nature of the actual realised yield as the returns and yields are not guaranteed. 

The calculation for the gross projected yield is based on the annualised amortised yield estimate for the portfolio’s holdings.

1) It takes into account the individual yield to maturity of the securities, the weighted average maturity, and an amortised schedule of NAV calculation - this is calculated using the hold to maturity value of the overall portfolio. 
2) We then take out the total expense ratio (TER) net of any trailer fee rebates paid back to your account. The TER is calculated to include all costs related to the fund including the annual fund management fee (AMF). 
3) We also account for the Endowus Access Fee of 0.05%. 


This gets us to the net adjusted annualised amortised yield. 

In calculating the range, during a period of falling interest rates, we calculate the high end of the range using the projected net adjusted yield, and the low end of the range which incorporates the potential future decline in interest rates. When interest rates are seemingly stable, we would use the projected net adjusted yield as the mid point of the range.  

The range is a more accurate reflection of the actual potential realisable yield by the investor, as the underlying securities holdings will fluctuate. 

Endowus Cash Smart Core has two components - the Fullerton Cash Fund, which only has institutional fixed deposits that do not fluctuate in value, combined with the Lion Global Enhanced Liquidity Fund, which amortises the lifetime value of its positions which are all hold-to-maturity securities and therefore also sees little fluctuation in returns or yield. 

Endowus Cash Smart Enhanced has two components - the Lion Global Enhanced Liquidity Fund, which amortises the lifetime value of its positions, which are all hold-to-maturity securities and therefore has little fluctuation in returns or yield, combined with the UOB Asset Management United SGD Fund, which is a short duration fixed income product that has mark-to-market impact but has a long term steady return profile.  

Just as interest rates fluctuate, Cash Smart projected yields fluctuate over time based on market conditions. Endowus will endeavour to update the project yields of the Cash Smart portfolios when they change. The chart below shows the gross (before fees) projected yields over time of the underlying funds and the Cash Smart portfolios.

Read more: Cash Smart notes from the Endowus Investment Office

How does Cash Smart compare with a bank’s current account, savings account and fixed deposits? Why are there no lock ups with higher returns?

Endowus Cash Smart is an investment portfolio that invests in funds with a mandate to invest in a diversified basket of low risk securities such as institutional fixed deposits, as well as high quality & short-term government and corporate bonds. Cash Smart therefore has diversified group counter-parties and greater flexibility and therefore a higher expected return. Furthermore, because of the pooled nature of the funds in a diverse number of underlying instruments, it allows for exposure to some longer term instruments that have higher interest rates. 

A deposit into your current account, savings account, or fixed deposit stays at the bank or is loaned out by the bank to generate a return on your money for the bank, so the bank can pay you interest from the interest it receives from the loan. It is the bank's job to manage the risk associated with lending out your money. The bank therefore pays you an interest rate based on the lending environment and prevailing market interest rates. 

The funds in the Cash Smart portfolios have more flexibility to invest in safe instruments across many counter-party banks, governments and corporations to get you a higher yield on your cash. With many investors in the fund, the fund can also buy and sell the underlying securities to match with the buyers and sellers of the underlying funds. This means that Cash Smart investors have daily liquidity (no lock ups). 

Source: DBS, MAS, Endowus Investment Office

Read more: Is Cash Smart as safe as a deposit at the bank? Is it insured by Singapore Deposit Insurance Corporation (SDIC)?

What are the underlying funds and holdings in Cash Smart?

Cash Smart portfolios are composed of cash, money market and short duration bond funds, which are investment funds that hold high quality and low volatility institutional fixed deposits and fixed income instruments. There are no lock-ups for these funds. 

Cash Fund (lowest risk): 
A cash fund invests primarily in a diversified portfolio of institutional bank fixed deposits. Cash funds are considered to be the lowest risk of any investment funds with a potential loss risk of 0.01% or less in the case of a maximum drawdown.  

Money Market Fund (very low risk):
A money market fund invests primarily in a diversified portfolio of institutional bank fixed deposits, as well as high quality investment-grade and very short duration government and corporate debt instruments. They are diversified across varying issuers and tenures maintaining a weighted average duration of around 12 months or less. Money market funds are considered to be very low risk in nature with a potential loss risk of 0.05% in the case of a maximum drawdown. 

Short Duration Bond Fund (low risk):
A short duration bond fund invests primarily in a diversified portfolio of institutional bank fixed deposits, as well as high quality and investment-grade short duration government and corporate debt instruments. They are diversified across varying issuers and tenures maintaining a weighted average duration of around 24 months or less. Short duration bond funds are higher risk than cash and money market funds but still considered to be low risk in nature with a potential loss risk of  around 2% in the case of a maximum drawdown.

Cash Smart Core is composed of 2 funds
50% Fullerton SGD Cash Fund - Class A (ISIN: SG9999005961)
Fund Type: Cash Fund
Fund Manager: Fullerton Fund Management Company Ltd (a subsidiary of Temasek & NTUC)
Description: The fund intends to hold its assets primarily in Singapore Dollar institutional fixed deposits with eligible financial institutions with varying terms of maturity of not more than 366 calendar days. The Managers may also place deposits of varying maturity tenures exceeding 366 calendar days but not more than 732 calendar days, subject to a maximum of 10 percent of the Fund’s Net Asset Value.
Fact sheet | Prospectus | PHS/KIID

50% Lion Global SGD Enhanced Liquidity Fund (ISIN: SG9999019301)
Fund Type: Money Market Fund
Fund Manager: Lion Global Investors Limited (a member of the OCBC Group)
Description: The fund aims to preserve capital, enhance income and provide a high level of liquidity by investing in a broadly diversified portfolio of high quality money market and debt instruments. The Fund’s approach to enhancing income while providing liquidity is to invest in a high quality portfolio of debt instruments diversified across varying issuers and tenures while maintaining a weighted average portfolio credit rating of A- and a weighted average duration of around 12 months. The instruments are held to maturity and yields are amortised.  
Fact sheet | Prospectus & PHS/KIID

Cash Smart Enhanced is composed of 2 funds
50% Lion Global SGD Enhanced Liquidity Fund (ISIN: SG9999019301) - as above

50% UOB AM United SGD Fund (ISIN: SG9999001382)
Fund Type: Short Duration Bond Fund
Fund Manager: UOB Asset Management Ltd (a subsidiary of UOB Group)
Description: The investment focus of the fund is to invest substantially all its assets in money market and short term interest-bearing debt instruments and bank deposits with the objective of achieving a yield enhancement over Singapore dollar deposits.
Fact sheet | Prospectus | PHS/KIID

Why and how does Cash Smart charge an Access Fee?

Endowus charges an Access Fee of 0.05% per year, which includes portfolio advice & creation, unlimited transactions, all at your convenience on the Endowus platform.

For example, if your Cash Smart account has an average value of S$10,000, Endowus will transparently make S$5 per year from you (the price of a cappuccino).

Endowus has no sales fees, and 100% trailer fee rebates. Unlike other platforms, we do not collect kickbacks from fund managers. We are only paid by you, the client we serve. Paying the Access Fee is seamless and transparent. We charge our Access Fee on a quarterly basis based on your daily average total assets under advice for that quarter. If you have any cash in your trust balance that is not in a Cash Smart or investment portfolio, we will use your remaining cash balance to pay for the Access Fee. Otherwise, we will redeem part of your Cash Smart portfolio, equivalent to your fees due for the quarter.

What is the cost of Endowus Cash Smart versus popular fund platforms?

It is much lower cost to buy, maintain, and grow your money with Endowus Cash Smart than it would be to replicate them on a popular “low cost, no fee” fund platform. Endowus also gives access to institutional share classes which typically are half the cost of a retail fund share class. 

Endowus charges an Access Fee of 0.05% per annum and rebates 100% of trailer fees it receives from the fund company, which are 0.09% for Cash Smart Core and 0.23% for Cash Smart Enhanced, respectively. 

Popular “low cost, no fee” fund platforms charge 0% to 0.2% (FSM) per annum platform fees. More importantly, they keep the trailer fees to themselves and give access to only the more expensive retail share class. 

Endowus Cash Smart is almost one-third the cost versus FSM. Banks often add on an upfront sales charge, which is an even greater cost.

Total cost after all fees per annum (analysis done in June 2020):
Cash Smart Core at Endowus: 0.23%
Cash Smart Core replicated at FSM:  0.65%
Cash Smart Enhanced at Endowus: 0.35%
Cash Smart Enhanced replicated at FSM: 0.91%

I’m an existing Endowus client. How do I get Cash Smart?

1) Simply log in to your Endowus account,
2) add a new goal, and
3) select “Cash Smart” and follow the instructions.


You can choose to either invest your Cash or SRS in Cash Smart.

Can I use Endowus Cash Smart as a corporation or institutional investor?

Absolutely. Email us at institutional@endowus.com. Endowus Institutional investment solutions are also available in all major global currencies (USD, EUR, GBP, AUD, JPY, CHF and more).

What money types can be used for Endowus Cash Smart (CPF, SRS, Cash)?

Endowus Cash Smart is available for Cash and SRS investment.

For CPF investments, please create an account, select "General Wealth Accumulation", and select CPF as your first funding source.

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Let’s talk about your money.