Robo-adviser StashAway has rolled out a cash management portfolio that gives all investors access to Singapore-focused money-market funds.
The portfolio, StashAway Simple, has a projected return of 1.9% per annum as of November. It will invest in the LionGlobal SGD Money Market fund and LionGlobal SGD Enhanced Liquidity Fund - SGD Class I.
The robo-adviser said a flat return will apply, regardless of one's balance, but it will not charge management fees for the portfolio.
The platform is able to cut man hours, which also involves high fees in investment planning. Instead, StashAway leaves the brunt of this work to data-driven AI, which allows them to offer these services for relatively lower costs to the general public.
StashAway, which operates in Singapore and Malaysia, offers a range of portfolios targeting different levels of risk.