StashAway launches the first cash management portfolio with guaranteed returns
SINGAPORE - 24 April 2023 - StashAway, a digital wealth management platform, has expanded its suite of cash management solutions with the launch of StashAway SimpleTM Guaranteed, the first-of-its-kind in Singapore to provide guaranteed returns on any investment amount. With no management fees from StashAway, Simple Guaranteed has a competitive rate of 3.4% p.a. (as of 24 April 2023) over a lock-in period of six months, allowing clients to earn stable returns on their cash.
Amid market volatility and an uncertain economic outlook, a recent study found that 28% of Singaporeans are looking to increase their investments in lower risk holdings this year. Fixed income products, for instance, have grown increasingly attractive as investors seek to capitalise on higher interest rates. Yet, traditional fixed deposits are often tied to various prerequisites, such as a minimum deposit amount averaging between $20,000 and $250,000 SGD, or may have preferential rates that are only valid for fresh deposits. To tackle these common pain points, Simple Guaranteed offers clients a hassle-free way of securing guaranteed returns on their spare cash, without having to jump through multiple hoops.
“As the first mover in SEA’s digital wealth management space, we take pride in making investing simpler, more transparent and easily accessible. We’re once again pushing the boundaries of what’s possible with Simple Guaranteed – taking away the fine print and complexities that are all too common in our industry to help individuals grow their wealth while maintaining peace of mind,” said Michele Ferrario, Co-founder and CEO of StashAway.
Simple Guaranteed comprises fixed deposits from reputable banking providers regulated by Monetary Authority Singapore (MAS). The rate of return for Simple Guaranteed will be reviewed daily and updated as needed, providing clients with the flexibility to choose when to lock in their rate. With this, clients will then receive their guaranteed returns after six months and feel reassured that their funds are protected from market volatility.
A comprehensive suite of cash management solutions for every economic cycle
On top of Simple Guaranteed, StashAway provides two other cash management portfolios, StashAway SimpleTM and StashAway SimpleTM Plus, which allow clients to earn returns on their cash without any lock-ins or minimum balances.
“Traditionally, the easiest way to optimise returns on your cash was to keep looking for the highest-yielding bank savings account and go through tedious conditions. We set out to challenge this notion in 2019 when we launched our first cash management solution, StashAway SimpleTM. Fast forward to today, we now have a sophisticated suite of cash management solutions that caters to different customer needs and financial goals, empowering our clients to make the most out of their cash – no matter how unpredictable the market may be,” said Stephanie Leung, Chief Investment Officer at StashAway.
To find out more about StashAway SimpleTM Guaranteed, please visit stashaway.sg/simple-guaranteed
Lee Yan Jie
Assistant Manager, PR & Partnerships
StashAway is a digital wealth manager that offers investment portfolios and wealth management solutions for both retail investors and high-net-worth individuals (HNWIs) and operates in Singapore, Malaysia, the Middle East and North Africa, Hong Kong, and Thailand.
As of January 2021, the company surpassed $1 billion USD in assets under management. In 2020, StashAway was recognised as a Technology Pioneer by The World Economic Forum and a Top 10 LinkedIn Startup. In 2021, StashAway was awarded a spot in the Fintech Global’s 2021 Wealthtech 100 list and won the bronze award for the SG Techblazer Award in the Most Promising Innovation Category. StashAway took first place in the category for Singapore Financial Institution at the SFF Global FinTech Awards 2021 presented by the Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA).