We are excited to introduce Cash+ Enhanced, a cash management solution built on short-duration income instruments. With target returns of up to 3.0% p.a. and no lock-ins, it offers a new home for money you don’t need to spend in the next year or two, and complements Syfe’s cash-income continuum that takes care of passive income needs in all stages of your life.
Summary:
- Why Cash+ Enhanced, Why Now
- Inside the Strategy:
- How we make your cash work harder
- How we manage risk, cut costs for you
- Frequently Asked Questions
Why Cash+ Enhanced? Every dollar has a job
Every dollar in your portfolio has a job. Some are “now” money for immediate needs and wants. “Later” money is what you are saving for your retirement fund.
In between sits “soon” money which, left idle, could quickly lose its earning power. The interest rate Singapore’s six-month T-bills offer is now less than 1.6%, having fallen from above 4% at the end of 2021.1
Every dollar has a job
Now, Soon and Later Money
“Now” money
Immediately
Flexibility and quick access.
fund
expenses
spending
“Soon” money
Within 1 to 2 years
Balancing liquidity with growth.
purchase
“Later” money
3 years and beyond
Long-term growth.
opportunities
fund
wealth
Illustrative. Time horizons shown are general guides rather than recommendations, and the right holding period depends on your own circumstances and plans. Source: Syfe.
Above this “cash” rate, investors are left with little choice: take sizable risks or accept sub-optimal returns. To earn over 2.3% in SGD, you would need to buy 10-year government bonds, with about 9 years of “duration” (or interest rate sensitivity) risk, against roughly half a year on the T-bill. That’s ~18x the duration risk for just 0.7 percentage points of additional income.
Cash+ Enhanced is built to bridge that gap. By holding short-duration bonds from high-quality companies as well as governments, it is projected to generate 3.0% a year on just ~2 years of duration. The extra return comes from who we lend to and the quality of the managers that select these bonds, underpinned by an architecture designed by Syfe to strike the balance between risk and reward.
Syfe’s Suite of Products
Comprehensive Range of Income and Yield Solutions
GuaranteedSGD
FlexiSGD
EnhancedSGD*
PreserveSGD
EnhanceSGD
All figures in Singapore dollars, shown on a yield basis and correct as of 11 August 2026. SG T-bill is the 6-month auction cut-off yield of 1.59% (4 August 2026), shown for reference. Cash+ Guaranteed is the 6-month guaranteed rate of 1.25% p.a.; 1-month and 3-month terms pay 1.05% and 1.15%. Cash+ Flexi is the projected return of 1.6% p.a. shown on its product page. Cash+ Enhanced is a projected yield, net of all fees. Income+ figures are target payout rates. *Cash+ Enhanced is quoted on an unhedged basis, in line with industry convention. The funds hold both Singapore dollar and foreign currency bonds; the foreign holdings are hedged back to Singapore dollars, and that hedge currently costs around one percentage point, giving a Singapore dollar equivalent of approximately 2.0%. The cost reflects the gap between Singapore and foreign interest rates and will change as those rates change. Cash+ Guaranteed and Cash+ Flexi hold Singapore dollar instruments, so no equivalent adjustment applies to them. Yields are not total returns: for Cash+ Enhanced, Income+ and REITs, the value of your investment moves as well, so what you receive may be higher or lower. Projections and target payouts are not guaranteed. Past performance is not indicative of future results.
Inside Cash+ Enhanced
Cash+ Enhanced holds Singapore dollar bond funds actively managed by three leading asset managers. Together the three funds manage over S$4.8 billion.2
- LionGlobal Short Duration Bond Fund (35%)
- Amova Short Term Bond Fund (35%)
- Fullerton Short Term Interest Rate Fund (30%)
Syfe selects the funds and determines their weights, and monitors the portfolio quarterly against the rules below. We use institutional share classes where available to keep costs low, which investors buying these funds directly generally cannot access, and pass back 100% of any rebate we receive from a fund manager.
How it earns. Like all fixed income, returns come from two sources:
- Carry — the interest the bonds pay, accruing daily whether prices rise or fall. At portfolio level this runs at 3.5% p.a. before fees, reflecting the spreads of investment grade short-duration credit over government bonds.
- Price movement — bond prices move inversely to interest rates, which are shaped by factors such as monetary policy and macroeconomic events.
Cash+ Enhanced
The Projected Yield, and What It Costs
Net projected yield to maturity, after fund-level fees, rebates passed through and the Syfe Access Fee.
| Fund-level fees | 0.36% |
| Rebates passed back to you | −0.10% |
| Syfe Access Fee (flat) | 0.20% |
| Total cost | 0.46% p.a. |
*Quoted in local currency terms, in line with industry convention. The funds hold both Singapore dollar
and foreign currency bonds. The foreign holdings are hedged back to Singapore dollars, and because that hedge
currently costs around one percentage point, the Singapore dollar equivalent net yield is approximately 2.0%.
That cost reflects the gap between Singapore and foreign interest rates and will change as those rates change.
It is borne within the funds’ value rather than charged to you.
Fund-level fees are 0.32% (LionGlobal), 0.43% (Amova) and 0.34% (Fullerton), blended at approximately 0.36%.
Syfe passes back 100% of any rebate received from a fund manager. A projected yield is not a guaranteed return.
Correct as of 11 August 2026.
The risks. To generate that return, the strategy takes on two risks – both kept in-check by our rules.
- Interest rate risk. Duration is ~2 years at launch, and our rules cap it at 2.5. A one-percentage point rise in rates costs around 2% in capital, which 12 months of income is almost enough to cover.
- Credit risk. Every constituent fund is investment grade, with a BBB rating floor written into the portfolio’s rules. We have deliberately spread it evenly across three managers rather than concentrating with one, so no single credit process skews the outcome.
Because this strategy invests in bonds, its net asset value (NAV) fluctuates with interest rates and credit spreads – unlike a deposit-based product.
To neutralise currency risks, this fund is SGD-hedged. That cost is borne within the underlying funds’ value, not charged to you. Cash+ Enhanced has no lock-in and no minimum holding period, and withdrawals typically settle in three business days
Managing Risk, Compressing Costs
Compressing cost. The use of institutional share classes, wherever they are available, brings fund-level fees to around 0.36% a year – which can be cut further for certain client tiers – of which roughly 0.10% comes back to you as rebates.3 Syfe charges a flat 0.20% access fee. Total cost comes to about 0.46% a year, taken from the yield rather than billed separately.
Managing risk. With a duration of roughly ~2 years at launch, income from the underlying funds can absorb a sudden 94 basis point rise in rates before you would end a year with less than you invested. Conversely, were rates to fall half a percentage point, that same year could lift returns to around 3.1%.
Cash+
Historical Performance Comparison
Annualised returns in Singapore dollars, to 30 June 2026.
| Product | Syfe risk rating | 1 year | 3 years |
|---|---|---|---|
| Cash+ GuaranteedFixed rate, capital guaranteed | Very Low | n/a* | n/a* |
| Cash+ Flexi (SGD)Money market funds | Very Low | 1.70% | 2.85% |
| Cash+ EnhancedShort-duration bond funds | Low | 2.69% | 4.07% |
| Cash+ Enhanced vs Cash+ Flexi | +0.99pp | +1.22pp |
*Cash+ Guaranteed pays a fixed rate over a set term, so it has no variable return history to compare. Cash+ Enhanced figures are the 35/35/30 weighted average of the three constituent funds’ published returns, after fund-level fees and before the Syfe Access Fee of 0.20% p.a. Past performance is not indicative of future results.
Summary: Make Your Cash Work Harder
The three funds that make up Cash+ Enhanced have a strong track record, delivering 2.69% and 4.07% a year over one- and three-year horizons. That is superior to Cash+ Flexi’s 1.70% and 2.85%, but it also reflects the higher risk that leads to the greater reward with this product.
Cash+ Enhanced is therefore the ideal home for your “soon” money – powering up your savings while giving you peace of mind with flexibility. Affordable, accessible, and simply structured. Make your cash work harder, starting today. Explore Cash+ Enhanced on Syfe.
All figures correct as of 11 August 2026. Projected returns are not guaranteed.
1 Monetary Authority of Singapore. Cut-off yield of 6-month T-Bill auctions, December 2022 (4.4%) and July 2026 (1.59%).
2 As of June 2026.
3 Syfe has a tier-based pricing system. Pricing for Cash+ Enhanced will follow Cash+ Flexi’s. As an example, Syfe charges blue tier clients (no minimum AUM) 0.2% p.a. for Cash+ Flexi, and 0.15% for Platinum (AUM S$1m) and Diamond (AUM $5m or above) for the same product.
You must be logged in to post a comment.