Both StashAway Simple and Endowus Cash Smart have reduced their yields on their cash management products.
StashAway previously offered 1.9% projected annual returns for its Simple portfolio, but in an email to clients today, they announced that they will be reducing this yield to 1.4% starting 1 September 2020.
|
Before |
After (1 September 2020) |
| StashAway Simple |
1.9% |
1.4% |
StashAway Simple yield changes
While the underlying funds have not been performing as well, StashAway had provided rebates to maintain the projected yields of 1.9% – however, it has now deemed the rebate unsustainable.
On a related note,
Endowus has also recently lowered its projected yields on its
Cash Smart cash management product – and across the board, we should see yields dropping by 20 basis points.
|
Before |
After (21 August 2020) |
| Endowus Cash Smart Core |
1.1% to 1.3% |
0.9% to 1.1% |
| Endowus Cash Smart Enhanced |
1.9% to 2.2% |
1.7% to 2.0% |
Endowus Cash Smart yield changesNew projected yields, visualised, versus bank deposits...
