Fullerton SGD Cash Fund A SGD

The investment objective of the Fund is to provide investors with liquidity and a return that is comparable to that of the Singapore Dollar Banks Saving Deposits rate.

iFAST Research Team
iFAST Research Team09 Sep 2026 1702 Views
Fullerton SGD Cash Fund A SGD
2026 | 2025 | 2024 | 2023

  • The fund provides investors with liquidity and aims to deliver a return comparable to the Singapore Dollar Banks Saving Deposits rate.
  • The team primarily invests in SGD deposits and Singapore government-related bills across varying maturity tenures, diversifying across multiple high-quality counterparties of varying geographies to capture yield opportunities.
  • The team manages credit risk by placing deposits only with banks rated at least A-2 (S&P), P-2 (Moody’s), or F-2 (Fitch).
  • To manage interest rate risk and volatility, the fund manager proactively adjusts the fund’s Weighted Average Maturity (WAM) based on its rate outlook, extending it in anticipation of falling rates and shortening it when rates may rise. The team also rebalances between deposits and bills, manages curve exposures, and actively repositions bank deposit placements as market conditions evolve.
  • Looking ahead, the team flags near-term risks from MAS policy tightening and inflation risks, which may keep short- and long-end rates higher. The team monitors these developments closely, proactively adjusting WAM and positioning to navigate the dynamic rate environment.


Fund Investment Style

Source: Bloomberg Finance L.P., iFAST Compilations
Monthly total returns including gross dividends in SGD terms as of 31 Mar 2026

Recommended fund

3-year Annualised return

3-year Maximum drawdown

3-year Downside Deviation

3-year Risk-return ratio

Fullerton SGD Cash Fund A SGD

3.0%

0.0%

0.0%

N/A*

Peer Average

2.8%

-0.2%

0.0%

N/A*

*Not meaningful due to low drawdown and downside deviation figures, especially for Fullerton SGD Cash Fund.
Source: Bloomberg Finance L.P., iFAST Compilations. Monthly total returns including gross dividends in SGD terms as of 31 Mar 2026

About the Fund Managers

Darren Tay, Head of Treasury Management, is the lead portfolio manager for the Fullerton SGD Cash Fund A SGD. Darren has been managing the Fund since its inception in February 2009 and is supported by a team of 10 core personnel, which have an average tenure of 8 years with Fullerton.

The fund primarily focuses on providing investors with liquidity. Credit quality is important to the fund too, as the team will only invest in deposits which have a minimum short-term rating of A-2 (S&P), P-2 (Moody’s), or F2 (Fitch). The team will proactively manage its maturity profile to manage interest rate risks and volatilities.

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