{"id":43897,"date":"2020-06-15T11:23:20","date_gmt":"2020-06-15T03:23:20","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=43897"},"modified":"2020-06-15T11:27:29","modified_gmt":"2020-06-15T03:27:29","slug":"stashaway-simple-cash-management-portfolio","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/stashaway-simple-cash-management-portfolio","title":{"rendered":"StashAway Introduces StashAway Simple, A New Cash Management Portfolio"},"content":{"rendered":"<p>StashAway, a digital wealth management platform, announced StashAway Simple for Malaysian investors on Monday (June 15).<\/p>\n<p>StashAway Simple is a Shariah-compliant cash management portfolio that allows you to earn a projected rate of 2.4% p.a. on your cash.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"A-flexible-alternative-to-fixed-deposits-and-savings-accounts\"><\/span>A flexible alternative to fixed deposits and savings accounts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With other cash management options, such as fixed deposits and savings accounts, you would need to lock up your cash for a specific tenure &#8211; if you withdraw early, you may face a penalty or receive lower interest rates. You may also need to deposit a minimum balance to get the best rates.<\/p>\n<p>StashAway Simple doesn&#8217;t impose these restrictions. Its features include:<\/p>\n<ul>\n<li>No minimum balance<\/li>\n<li>No lock-up period<\/li>\n<li>No deposit requirements or withdrawal restrictions<\/li>\n<\/ul>\n<p>\u201cSavers and investors shouldn\u2019t have to lock-up their money for 6 to 12 months just to earn an acceptable rate in a low interest rate environment. With StashAway Simple anyone can earn a projected 2.4% p.a. return without lock-ups and complicated conditions,\u201d said Wong Wai Ken, StashAway Malaysia\u2019s Country Manager.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How-much-does-it-cost\"><\/span>How much does it cost?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>StashAway does not charge any platform fees. However, StashAway invests your cash management portfolio in Eastspring Investments Islamic Income Fund, which does have an annual expense ratio. Eastspring Investments rebates 50% of the fee they charge to StashAway, which is then passed on to customers. After these rebates,\u00a0 the net expense ratio for StashAway Simple is approximately <strong>0.165%<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Returns-are-not-guaranteed\"><\/span>Returns are not guaranteed<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Unlike fixed deposits or savings accounts, returns with StashAway Simple are not guaranteed. Its projected rate can change over time depending on its underlying investment, which in turn is affected by Malaysia&#8217;s economic health &#8211; although customers will always be notified if the projected rate changes.<\/p>\n<p>However, StashAway points out that StashAway Simple carries very low risk. The StashAway Risk Index (their internal index for measuring risk) for StashAway Simple is 1.8%. This means you have a 99% chance of not losing more than 1.8% of your portfolio in a given year.<\/p>\n<p>Overall, StashAway Simple could be a good fixed deposit and savings account alternative for those looking for higher returns on their savings, without being restricted by tenures or minimum balances &#8211; just keep in mind that you may incur slightly higher risk.<\/p>\n<div class=\"block\"><div><strong>StashAway also offers an investment portfolio, which we have covered in <a href=\"https:\/\/www.imoney.my\/articles\/robo-advisor-comparison\" target=\"_blank\" rel=\"noopener noreferrer\">this article<\/a> &#8211; as<\/strong><strong>\u00a0an iMoney reader, enjoy reduced fees when you sign up through\u00a0<a href=\"https:\/\/www.stashaway.my\/ref\/imoney-3ece930e-5e69-492c-adb4-9b0ddb2a1dda\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">this link<\/a>. But as always, remember to do your own research before investing.<\/strong><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Earn a projected rate of 2.4% p.a. on your savings, without getting restricted by tenures or minimum balance requirements.<\/p>\n","protected":false},"author":43,"featured_media":43910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,216],"tags":[543],"class_list":["post-43897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-news-updates","tag-stashaway"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>StashAway Simple Is A New Cash Management Option In Malaysia<\/title>\n<meta name=\"description\" content=\"StashAway Simple is a Shariah-compliant cash management portfolio that 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