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Syfe Cash+ overview

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Syfe Cash+ overview

  • Cash+ Flexi is a cash management discretionary portfolio that serves as an alternative to keeping cash in fixed deposits and savings accounts. It has two versions, Cash+ Flexi SGD and Cash+ Flexi USD, that aim to deliver projected returns between 3.7% p.a. to 5.4% p.a., net of all fund expenses.

    When you invest in Cash+ Flexi portfolios, Syfe diversifies your funds in a curated list of money market funds that aim to achieve stable, steady returns in line with Singapore and US money market rates. View the portfolio compositions here. 

    Cash+ Flexi has no lock-up period or maximum investment limit. Syfe charges a management fee of 0.1% per annum on Cash+ Flexi SGD (as of 1 July 2023) and 0.2% on Cash+ Flexi USD (as of 1 November 2023), subject to prevailing GST, where applicable from 1 June 2023, based on the higher of assets under management or invested amount . Syfe does not charge any fees for transferring or withdrawing funds and there is also no fall-below fees. Cash+ Flexi USD has a minimum investment amount of US$10,000 or SGD equivalent. 

    Kindly note that as Cash+ Flexi is invested in very low-risk money market and bond funds, it is not capital guaranteed. 


    How do I receive the returns from my Cash+ Flexi portfolio?

    Once your funds have been invested into the Cash+ Flexi portfolio, we will update your portfolio value according to the most recent market prices of the underlying securities. Learn more about our portfolio update timing here.

    As such, any returns earned will be automatically reflected in your Cash+ Flexi portfolio value. 

    When you place a withdrawal request, you can choose to withdraw the total amount held in your Cash+ Flexi portfolio, including all returns earned. Kindly note that once a withdrawal request is submitted, we will sell off your assets within 1-2 working days at their prevailing market prices at the point of selling.

    Should you opt to stay invested, you can let your returns compound to grow your cash more quickly.

     

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  • Singapore bank base interest rates are generally at 0.05% p.a. Higher rates are possible, but usually requires users to meet requirements such as salary crediting, meeting minimum spending thresholds, increasing average daily balances, etc. to earn more returns on your savings 

    When you invest in Syfe Cash+ Flexi, the projected return applies to all your funds, with no additional criteria you must fulfil. Cash+ Flexi projected returns are based on annualised amortised yield estimates of the underlying funds provided by the fund managers. 

    However, Cash+ Flexi is not a savings account. It is a cash management suite and investment product that is invested in low-risk bond and money market funds and is not capital guaranteed. All investments carry risks and past performance is not indicative of future performance.

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  • Syfe invests your funds into the institutional share class of the underlying funds which retail investors do not normally have access to. The institutional share class of these funds have lower management fees and expense ratios, thus making it more cost-effective. Any fund-level rebates we receive are also passed on to clients.

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  • As of 1 July 2023, Syfe charges a management fee of 0.1% per annum on Cash+ Flexi SGD (subject to prevailing GST, where applicable from 1 June 2023) based on the higher of assets under management or invested amount. Cash+ Flexi USD is charged at 0.2% p.a. subject to prevailing GST, where applicable. View more details here. 

    There are fund-level fees that the fund managers charge. Any rebates Syfe receives from them will be credited back to you. The resulting net fund-level fee is already included in the calculation for the projected return Cash+ Flexi offers. View the detailed breakdowns here. 

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  • Syfe Cash+ Flexi comprises diversified investment portfolios (in SGD and USD) of money market and short duration bond funds that are generally considered very low risk. This is because the funds have underlying holdings in safe, low-risk assets such as institutional deposits, government and high-quality corporate bonds.

    Additionally, you can choose to withdraw your money at any time with no exit penalties.

    While Cash+ Flexi is not insured by Singapore Deposit Insurance Corporation (SDIC), it offers broader diversification and relatively higher returns compared to bank deposits. The base interest rate for most bank savings accounts is 0.05% p.a. while the projected returns for Cash+ are 3.7% - 5.4% p.a.

    Furthermore, all client funds in Syfe Cash+ Flexi are held in a separate custodian account with HSBC Institutional Trust Services (Singapore) Limited. This means that Syfe will never be able to use your funds for any reason, and that your funds remain safe even if Syfe stops operating because they are held separately from Syfe assets

    Learn more here.

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  • Cash+ Flexi holds weighted allocations in a number of money market and short-duration bond funds. View portfolio compositions here. 

    The fund managers provide Syfe with the amortised yields of each fund. The Gross Projected Return for Cash+ Flexi is calculated as such:

    Weighted allocation of the amortised yield of fund 1 + Weighted allocation of the amortised yield of fund 2 + … + Weighted allocation of the amortised yield of fund n = Gross Projected Return

    Syfe also charges management fees for Cash+ Flexi. The Projected Return is then derived as follows:

    Gross Projected Return - Fund Fees (charged by fund managers) + 100% Trailer Fee Rebates - Syfe Management Fee. For example, Cash+ Flexi SGD calculation 3.93% + (-0.29%) + 0.13% + (-0.1%) = 3.7%

    Projected Returns adjusted to one decimal place.

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  • Syfe diversifies your funds in the following two LionGlobal funds:

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    Enhanced Liquidity Funds diversify your portfolio with multiple debt instruments across various issuers and tenures while maintaining a weighted average credit rating of A- and a weighted average maturity of 12 months.

    Money Market Funds invest in safe, short-term, low-risk debt funds like government and corporate bonds and deposits with financial institutions.

    Please view more details here. 

     

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  • Yes, you don’t need to invest in any other Syfe portfolio to invest in Cash+ Flexi.

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  • Your Cash+ Flexi and Cash+ Guaranteed portfolio’s balance does not contribute to your overall assets under management (AUM) when determining your Syfe pricing tier.

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  • The projected return for Cash+ Flexi may fluctuate based on the performance of the underlying funds. Where applicable, Syfe may optimise the fund allocation to deliver the best-projected return possible in a given interest rate environment. We will keep you informed should there be a change in the projected return.

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  • The projected return for Cash+ Flexi may fluctuate based on the performance of the underlying funds. Returns on your Cash+ Flexi portfolio will be accrued daily, unlike bank deposits where you receive your interest monthly. As such, any returns earned will be automatically reflected in your Cash+ Flexi portfolio value. 

    When you place a withdrawal request, you can choose to withdraw the total amount held in your Cash+ Flexi portfolio, including all returns earned. Should you opt to stay invested, you can let your returns compound to grow your cash more quickly.

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  • We accept funds from individuals aged 18 and above.

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