Important risk disclosure

Please click here and read carefully the summary of the key features and risks specific to this fund stated in the offering document prepared by the relevant fund house before making any investment decision.

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LU0049014870
Aberdeen Standard Liquidity Fund USD

Cash management
Global
USD Cash
Accumulating

Invest with

USD Cash

Payout type

Accumulating

Risk rating

About this fund

Description

The Fund's objective is to preserve capital and provide liquidity whilst aiming to provide a return in line with prevailing short term money market rates for which SOFR has been chosen as a performance comparator.

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

Offers a conservatively managed portfolio of high-quality money market and ultra short-duration fixed income securities issued by both government and non-government/corporate issuers from around the world. Focus on capital preservation and liquidity, with yield generation being the second objective. One of the oldest and largest LVNAV USD money market products for retail investors in Hong Kong, incepted in 1983.

People

Highly experienced liquidity team, with the Lead PM (Ben Goodsell) having 20 years of experience. Supported by abrdn's broad fixed income team, supplying credit analysis and research for the PM to leverage upon when choosing the securities to invest in. Abrdn's fixed income team consists of more than 100 professionals across various asset classes in the US, UK, and Asia. abrdn has been managing liquidity for more than 40 years.

Performance

Even with conservative practices, the Fund has demonstrated the ability to generate decent levels of yield and total return since inception. However, note that yield/total return may remain at 0% during low-rate environments, consistent with the conservative investment mandate. Being an LVNAV fund means that the NAV of the fund is valued using amortised cost method in most market environments, and this has helped the fund demonstrate stable performance over time. Drawdowns have been rare and minimal.

Process

Conservatively managed portfolio with focus on capital preservation and liquidity - daily and weekly liquidity buffers tend to be managed well above the regulatory limit. Dynamically managed to optimise risk-return across the rates cycle. Weighted Average Maturity ("WAM") is kept consistently below the regulatory limit of 60 days, with the flexibility to allocate into securities with longer maturities (and higher yields) during periods of low yield to provide additional yield pick-up. Combines the macroeconomic insights provided by the rates team and the bottom-up security analysis provided by the broader credit team.

Cost

Retail share class with 100% trailer fees rebated back to Endowus investors to achieve the lowest cost of access. In periods of low-yield environments, management fee may be waived.

How it fits in a portfolio

The Fund aims to provide capital preservation and liquidity for investors looking for short-term liquidity management for cash (USD) that they will need in the very near future, in addition to the potential to earn yield. Note that capital preservation is the utmost objective of the Fund, but is not guaranteed.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this accumulating fund, which includes dividends reinvested.

Total returns

Cumulative

Annualised

All Time

33.87%

YTD

4.05%

1 month

0.31%

6 month

1.97%

1 year

4.05%

3 year

14.71%

5 year

16.49%

10 year

24.17%

As of Dec 2025

Distributions

This is an accumulating fund, so dividends are re-invested at the fund level.

Yield

3.88%As of Dec 2025

Risk metrics

Max drawdown

-0.01%As of Dec 2025

Volatility

0.51%As of Dec 2025

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2025	4.1%	0.4%	0.3%	0.3%	0.3%	0.4%	0.3%	0.3%	0.4%	0.3%	0.3%	0.3%	0.3%
2024	5.1%	0.4%	0.4%	0.4%	0.4%	0.5%	0.4%	0.4%	0.5%	0.4%	0.4%	0.4%	0.4%
2023	4.9%	0.3%	0.3%	0.4%	0.4%	0.4%	0.4%	0.4%	0.4%	0.4%	0.4%	0.4%	0.5%
2022	1.5%	0.0%	-0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	0.2%	0.2%	0.2%	0.3%	0.4%
2021	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-0.0%	0.0%	0.0%	0.0%	-0.0%	-0.0%	0.0%
Load more		5 of 20

Top Exposures

Holdings

Regions

Sectors

DDCA (DAIS)	6.91%
Term deposit 200,876,061.92 USD Bred Banque Populaire (Paris) 3.88% 01/12/2 (2025-12-01 Maturity)	5.76%
Term deposit 145,390,751.43 USD ROYAL BANK OF CANADA 3.79% 01/12/2025 (2025-12-01 Maturity)	4.17%
Term deposit 119,300,630.26 USD CREDIT AGRICOLE CORP INV BANK 3.8% 01/12/20 (2025-12-01 Maturity)	3.42%
Term deposit 100,031,752.24 USD MIZUHO BANK (LONDON) 3.81% 01/12/2025 (2025-12-01 Maturity)	2.87%
Increase of call deposit 4 86279000 Custodian 5.4%	2.70%
Repos. deposit 1 72,891,117.92 USD DBS Bank Ltd 4.05% 01/12/2025 (2025-12-01 Maturity)	2.09%
Repos. deposit 1 51,018,616.20 USD DBS Bank Ltd 4.05% 02/12/2025 (2025-12-02 Maturity)	1.46%
Zurich Finance (Ireland) DAC 0% (2025-12-19 Maturity)	1.43%
Agence Centrale Des Organismes De Securite Sociale 0% (2026-01-05 Maturity)	1.43%
Sumitomo Mitsui Banking Corp (London Branch) 0% (2026-02-02 Maturity)	1.42%
Allianz SE 0% (2026-01-16 Maturity)	1.41%
Repos. deposit 1 49,047,138.59 USD DBS Bank Ltd 4.05% 02/12/2025 (2025-12-02 Maturity)	1.41%
Matchpoint Finance PLC 0% (2025-12-05 Maturity)	1.29%
Allianz SE 0% (2026-01-27 Maturity)	1.28%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

0.43%0.23% p.a.

Save 46%

Fund facts

ISIN

LU0049014870

Fund house

Aberdeen Investments

Fund size

US$3.4B

As of 26 Jan 2026

Fund inception date

17 Sep 1984

Fund class currency

USD

Fund share class

A2 USD Acc

Oldest share inception date

17 Sep 1984

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

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Product Risk Rating Please note that any product risk rating (the “PRR”) provided by us is an internal rating assigned based on our product risk assessment model, and is for your reference only. The PRR is subject to change from time to time. The PRR does not take into account your individual circumstances, objectives or needs and should not be regarded as advice or recommendation to purchase, hold or sell any fund or make any other investment decisions. Accordingly, you should not solely rely on the PRR in making your investment decision in the relevant Fund.

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LU0049014870Aberdeen Standard Liquidity Fund USD

LU0049014870
Aberdeen Standard Liquidity Fund USD