New investment offering enables investors to manage their short-term cash with access to institutional share class money market funds at lower fees, with projected net yields of up to 5.5%* per annum
HONG KONG, Jan. 23, 2024 /PRNewswire/ — Endowus, Asia’s leading digital wealth management platform, has launched the Endowus CashUp Portfolios, offering institutional-grade, flexible short-term cash management solutions for Hong Kong investors, who wish to put their idle money to work for favourable returns.
The Endowus CashUp Portfolios offer investors the convenience of a single investment product that provides exposure to multiple funds, simplifying the investment process, while providing diversification benefits. They are constructed with the expertise and experience of the Endowus Investment Office, curating Best-in-Class money market and ultra-short duration fixed income funds from leading global managers, including Amundi, HSBC Asset Management, and Ping An of China Asset Management (Hong Kong) Company Limited, with no lock-up periods, subscription or withdrawal fees.
To cater to different needs of investors across varying life stages, the Endowus CashUp portfolios come in two options: CashUp Simple and CashUp Plus. CashUp Simple is a lower risk portfolio, constructed with high-quality money market funds with a focus on capital preservation. Its underlying funds adopt a nimble approach in managing shorter investment durations, smaller subscription amounts, and the portfolio’s key strength lies in its ability to capture prevailing market yields and deliver favourable total return.
CashUp Plus is a portfolio for investors willing to take slightly higher risk for potentially better returns, designed with money market and ultra-short duration bond funds, including US Treasury Bills, with ample levels of liquidity and a weighted average maturity of less than 60 days.
HSBC Global Money Fund US Dollar
Ping An Money Market Fund
Amundi Cash Fund (50%)
Ping An Money Market Fund (50%)
These cash management portfolios have a low investment minimum of US$100 (HK$800), no lock-up periods, no subscription or withdrawal fees, and no maximum caps. Investment yields are accrued daily and investors can subscribe and redeem their portfolios at any time. It is a low-risk and flexible investment solution for clients to take advantage of the current high interest rate environment, while maintaining their savings’ liquidity for cash they may need in the near future.
More significantly, by offering unique access to institutional share class funds and 100% Cashback on all trailer commissions, the underlying fund fees on the Endowus digital platform are reduced by as much as 60%, which translates to better net returns for end investors.
As of 31 December 2023, the projected net yields of Endowus CashUp Simple and Endowus CashUp Plus range from 5.2 to 5.5% per annum.
Steffanie Yuen, Head of Hong Kong, Endowus, said “In the current high interest rate environment, with cash and money market instruments yielding at 5% levels, there is no better time to look at comparatively safer, secure ways to optimise one’s savings without sacrificing liquidity. For money market funds that are characterised by a relatively lower level of returns, the compounded impact of fees on your returns is critical to investment success. Our new CashUp Portfolios closely meet the needs of Hong Kong investors and directly addresses the issue of high costs. As a full-service digital wealth platform, our Endowus Investment Office will continually monitor our portfolios’ performance on behalf of our clients, and screen the universe of funds for new options to bring better offerings to investors.”
Eddy Wong, Chief Executive Officer of Asia, Amundi said, “Investors are demanding more liquid money market solutions to capture attractive yields in the current high-rate market environment. Our Amundi Cash USD Fund is a well-diversified solution for investors to park their cash and enjoy competitive yield, while keeping an eye out for new investment opportunities. As the largest European asset manager, Amundi is glad to further our partnership in Asia with Endowus, Asia’s leading digital wealth platform; and to contribute our global asset management expertise to cater to the needs of Hong Kong investors.”
Zhuang Yi GOH, Head of Liquidity Sales, Asia, HSBC Asset Management, said, “We are delighted that Endowus has included our funds in their CashUp portfolio. Our entire range of money market funds is centred on a globally consistent investment framework, and a conservative approach to prioritising risk management.”
Armin Cheung, Managing Director of Treasury of China, Ping An Insurance Overseas (Holdings) Limited and Ping An of China Asset Management (Hong Kong) Company Limited added, “While the macroeconomic situation is still evolving, as a company we do not foresee the market easing significantly in the near term. In such an environment, an efficient cash management solution, such as the Ping An Money Market Fund available for investing through the Endowus platform, becomes even more attractive — one that aims to preserve capital and combines the best of liquidity and yield for many investors.”
Endowus launched in Hong Kong in May 2023 as the Company’s first overseas expansion. Through its Fund Smart platform, Endowus offers 200+ Best-In-Class funds that were selected and curated by its Investment Office from thousands that were available. These public and private markets funds span from cash and money management, fixed income, equities, multi-asset, hedge funds, private credit, private equity and private real estate.
Investors can construct their investment portfolios with single funds, or choose from ready-made model portfolios, including core portfolios such as “Global Diversified”, “Passive Income”, and “CashUp”, as well as a selection of thematic satellite portfolios.
To find out more about Endowus CashUp Series, please visit endowus.com/en-hk/model-portfolios/cash-management-cashup.
The information herein pertaining to Endowus HK Ltd (“Endowus”) and the Endowus investment platform is for general information only and does not constitute a recommendation, an offer to sell, or a solicitation to invest in any securities, options, or other derivatives in any jurisdiction and its content is not prescribed by securities laws. This information herein is not for any person in any jurisdiction or country where such distribution or availability for use would contravene any applicable law or regulation or would subject Endowus or the relevant asset manager to any registration or licensing requirement in such jurisdiction or country.
Investment involves risk. 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. Past performance is not an indicator nor a guarantee of future performance. 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.
Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice.
In presenting the information above, none of Endowus, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation, investment eligibility or particular need of any user, reader, any specific person, group of persons. For example, it does not take into account your eligibility to invest in specific classes or types of products. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources, eligibility and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.
*Projected yield is calculated based on the latest available weighted average net yields of underlying funds (or also called yield-to-maturity) as disclosed by each fund manager, either in the latest monthly fund factsheets, website or direct communication to fund distributors (as of 31 December 2023). Projected yield after all fees are net of fund-level fees after Cashback and Endowus fees. Investment involves risk, investors are reminded that this is an investment product and its value may rise, as well as fall. Please refer to our T&C and disclaimer at https://hk.endw.us/legal. This advertisement has not been reviewed by the SFC.*Not guaranteed.
Endowus is Asia’s leading independent digital wealth platform. With entities licensed by the Securities and Futures Commission of Hong Kong and Monetary Authority of Singapore, Endowus is the first digital advisor in the region to span personal savings, private wealth and public pension (CPF & SRS in Singapore), helping investors grow their money with expert advice and access to institutional financial solutions at low and fair fees, through a personalised digital wealth experience.
Founded in 2017, Endowus has raised a total of US$95 million in funding from investors including UBS Next, Citi Ventures, MUFG Innovation Partners, EDBI, Lightspeed Venture Partners, Prosus Ventures, Samsung Ventures, SBVA, Singtel Innov8, and Z Venture Capital. Other investors include some of the largest Family Offices in Asia, as well as the founders and employees of Endowus.
Endowus’ leadership and growth have been recognised by the industry and it has attained numerous awards including, Singapore’s Best Digital Wealth Management, CEO of the Year (Asia Asset Management’s Best of the Best Awards 2023), Singapore’s Best Digital Wealth Management Experience (The Asset Triple A Digital Awards 2023), and Startup of the Year and WealthTech of the Year (Asia FinTech Awards 2022). Endowus is also among the firms named in the World Economic Forum’s Technology Pioneers 2023, Forbes’ “100 to Watch” list for 2022 and LinkedIn Top Start-ups 2022.
The Endowus Group comprises Endowus’ licensed companies in Hong Kong and Singapore, as well as Hong Kong-based Carret Private. Endowus Group serves over a hundred thousand clients with content, advice and access. With group assets of over US$5 billion it is one of the largest independent wealth managers in Asia. From a combination of 100% trailer fees rebates as direct cashback to clients, savings from the access to institutional share class and exclusive funds, Endowus has created more than US$40 million in savings for its clients.
For more information, visit www.endowus.com/en-hk.
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