StashAway Simple™ is a cash management portfolio without restrictions. It makes doing more with your cash, well, Simple.
Transfer however much cash you want.
Earn returns on any amount for however long you want.
|StashAway management fee for any balance||FREE|
|Net fee charged by underlying fund manager, embedded in projected rate||Approx. 0.165%|
|The net expense ratio is 0.29%, made up of the underlying money market fund’s 0.25% annual management and 0.04% trustee fee. There is also a rebate of 0.125% that we award back to you when we receive it. The difference is the 0.165% net expense ratio for StashAway Simple™.|
We don’t include your Simple balance as part of your overall investments under management when we calculate your fee with us.
StashAway Simple™ doesn’t have any platform or service fees. There is an expense ratio that the underlying Unit Trust managers charge, and in the case that they offer any rebates, we will return those rebates back to you when we receive them.
Your Simple portfolio’s balance does not get included in your AUM when we calculate your fees for your Investment Portfolios.
This is an investment, so there is a level of risk, but it’s incredibly low. The StashAway Risk Index for StashAway Simple™ is 1.8%. That means you have a 99% chance of not losing more than 1.8% of your AUM in a given year
StashAway Simple™ is as risky as investing in a fixed deposit issued by licensed financial institutions. The underlying fund in StashAway Simple™, Eastspring Investments Islamic Income Fund, invests in Islamic money market instruments (fixed deposits) issued by financial institutions or their parent companies with a minimum credit rating of A3 or P1 by RAM Rating Services Berhad. Hence, the risk is the credit worthiness of the institutions such as AmBank Islamic Berhad, Public Islamic Bank Berhad and Maybank Islamic Berhad which were the top 3 holdings as of March 2020.
No, there aren’t any investment requirements to have a Simple portfolio. You can earn the full rate on any balance you have.
At this time, you can only have one Simple portfolio.
StashAway Simple™’s projected returns are driven by the rate of returns of its underlying investments, net of all expenses and rebates. The math on the projected rate of returns is quite straightforward: StashAway Simple™ projected returns are the sum of the amortised yield from the underlying fund, minus fees charged by the underlying fund managers, plus any rebates. Eastspring Investments rebates StashAway, and we distribute this full rebate to you when we receive it each month.
We will update the projected rate should the stated projected rate change. Should the underlying fund's projected returns change, we may decide to rebate you an additional amount in order to deliver the stated projected rate (in 3 decimals) at the time.
The Total Expense Ratio (TER) for the fund includes the Management Fee charged by the Fund Manager, as well as other expenses incurred by the Fund (e.g., custody, marketing, compliance, shareholder services); as the TER includes fixed costs, it may slightly vary depending on the size of the fund.
Yes, depending on economic conditions, your StashAway Simple™’s projected rate may change, as its underlying fund is affected by Malaysia's economic health and trajectory. We will always notify you in the case of a change in the projected rate. The risk level to which your money is exposed will never change within StashAway Simple™.
The cash management space in Malaysia is dark and messy with restrictions and fine print that make growing cash tedious at best. Ironically, in Asia, where saving is so deeply ingrained in many of its cultures, institutions have structured cash management options to benefit the institutions inherently more than their own clients. For example, a common misconception is that a savings account’s entire balance will earn the advertised rate in full. But, that’s almost never actually what the fine print says: average savings accounts have confusing tiered interest rates that require customers to satisfy multiple criteria, including having to deposit your salary, credit cards, and minimum monthly expenditures. And, fixed deposit accounts have rates that range from 1.9% to 2.1% p.a., but lock-up deposits for up to 12 months.
Unlike fixed deposit accounts that require a minimum lock-up period, you can withdraw from StashAway Simple™ at any time.
Nope! And we reimburse to you any rebates we receive from the fund managers.
For deposits from your personal bank account, it takes 2 to 3 business days.
For withdrawals to your personal bank account, it takes 3 to 4 business days.
Yes, the underlying fund invests in Islamic money market instruments and Islamic fixed deposits.