The Endowus Ultra Defensive Portfolio (UDP) was built by curating a portfolio of four high-quality bond allocations to enhance the downside protection of the fixed income portfolio while still maintaining stable market returns. The outcome is a safer lower volatility fixed income portfolio, that sits right in between our existing 100% fixed income Advised Portfolio and our Cash Smart Enhanced cash management product. This portfolio includes a new Low Duration Income Fund, a sister fund to the flagship PIMCO Income Fund. The new fund was launched in Singapore as an SGD-hedged Institutional share class exclusively for Endowus customers by PIMCO. PIMCO is the largest fixed income manager globally with $2 trillion of assets under management. This portfolio can be invested using Cash and SRS monies.