
2026 | 2025
- The fund seeks to preserve capital, enhance income and provide investors with a high level of liquidity by investing in a broadly diversified portfolio of high-quality debt instruments, money market funds and deposits with financial institutions.
- The fund targets to maintain a weighted average portfolio rating of A-, and a weighted average duration of around 12 months. It places an emphasis on maintaining a high-quality portfolio, while ensuring a high level of liquidity. As of 31 March 2026, the portfolio’s weighted average duration was much more conservative at 0.19 years.
- The fund’s largest positions are in USD-denominated instruments. As of 31 March 2026, the fund held 52 holdings, excluding cash and overnight accounts.
- Credit selection and duration management are the key drivers of the fund’s returns. The team continually strives to look for new high-quality issuers and expands its base of counterparties so that the best opportunities in the market are selected.
- Moving forward, the investment team expects short-term rates to remain higher-for-longer amid elevated inflation pressures. Rate cuts now look increasingly unlikely, and rate hikes may even become possible if disruptions to energy markets persist, which would support the fund's performance.
Fund Investment Style


Source: Bloomberg Finance L.P., iFAST
Compilations
Monthly total returns including gross dividends in USD terms as of 31 Mar 2026
|
Recommended fund |
Annualised return since inception |
Maximum drawdown since inception |
Downside Deviation since inception |
Risk-return ratio since inception |
|
4.7% |
0.0% |
0.0% |
N/A* |
|
|
Peer Average |
4.7% |
0.0% |
0.0% |
N/A* |
*Not meaningful due to low drawdown and downside deviation figures
Source: Bloomberg Finance L.P., iFAST Compilations. Monthly total returns including gross dividends in USD terms as of 31 Mar 2026
About the Fund Managers
Kenny Tjan has managed the fund since it was incepted in June 2023. He has over 30 years of experience in the management of collective investment schemes. The investment team currently has 9 members.
The team focuses primarily on its core objectives of preserving capital while providing investors with a high level of liquidity. Yield enhancement is also a secondary investment objective, but only if capital preservation and liquidity can be simultaneously achieved. In respect of these objectives, the team will invest in a diversified portfolio of high-quality fixed income instruments, while closely monitoring its holdings in liquid assets so it can meet its liquidity objectives.

