Endowus announced today that it is launching its Cash Smart suite of cash management products, with two options for investors: Core (projected yields between 1.1% to 1.3%) and Enhanced (projected yields between 1.9% to 2.2%).
The features of Cash Smart would be similar to most cash management platforms out there – there isn’t a fixed lock up period, so you can withdraw and transfer your money at any time and interest is accrued daily and automatically reinvested at the fund level and reflected in the Investment Value shown in your account.
Endowus is rebating 100% of sales and trailer fees for both options, and there are no transaction fees for switching, buying or selling into these funds.
The only fees charged are 0.05% per year by Endowus, and between 0.18% to 0.30% in fund management fees charged by the fund manager. The yields that you see are net of all these fees....