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Syfe Cash+

  • The Cash+ yield presented here is estimated based on the weighted average of the Yield to Maturity ("YTM") of the assets within the discretionary service already net of fund-level fee and trailer fee rebate (if any).

     

    Example calculation: assuming Cash+ has 2 constituent assets as of now - "fund A" and "fund B", with the weight of 50% each and YTM of 5.57% and 5.57% respectively. Fund A charges a fund-level fee of 0.11% and Fund B charges a fund-level fee of 0.35%, net of the trailer fee rebate. Hence, Cash+ yield = 50%*(5.57%-0.11%) (YTM of fund A) + 50%*(5.57%-0.35%) (YTM of fund B) = 5.30% p.a. yield.

     

    Cash+ constituent fund's YTM is a weighted average of the YTM of its bond (or time deposit) holdings. Yield to Maturity is the expected annual rate of return earned on a bond (or time deposit) under the assumption it is held until maturity. The realized yield may be higher or lower. The yield here is subject to change based on market conditions such as interest rate changes. Yield is not a guarantee of future performance. A positive yield does not imply a positive return. Investments involve risks and Cash+ does not provide any guarantee or assurance of returns.

     

    Please note that Cash+ is a discretionary portfolio management service provided. Syfe may alter the constituents and/or rebalance the allocations at any time in accordance with the objective of Cash+. The yield may be impacted as such.

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  • You may have noticed that Cash+ has been removed from your Transfer Plan Instructions page. 

    1. Log in to your Syfe account and click the “Account Settings" => "Manage Funds" button to reach the transfer instructions screen.

    2. If you previously had Cash+ in your saved transfer plan you will notice that it is missing from this screen.  On the transfer instructions screen click on "Edit" to make changes to your existing transfer plan.  

     

    3. Your Cash+ Amounts have been set to 0.  Fill up your transfer amount in your Cash+ Portfolio as you wish.

     

    4.  Make sure you check your allocation amounts and click on "Save and Proceed".

     

     

    Thats it!  Cash+ has been successfully added back to your transfer plan.

     

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  • You may have noticed that Cash+ has been removed from your Transfer Plan Instructions page. 

    1. Log in to your Syfe account and click the “Account Settings" => "Manage Funds" button to reach the transfer instructions screen.

    2. If you previously had Cash+ in your saved transfer plan you will notice that it is missing from this screen.  On the transfer instructions screen click on "Edit" to make changes to your existing transfer plan.  

     

    3. Your Cash+ Amounts have been set to 0.  Enter your transfer amount in your Cash+ Portfolio as you wish.  

     

    4.  Make sure you check your allocation amounts and click on "Save and Proceed".

     

     

    Thats it!  Cash+ has been successfully added back to your transfer plan.

     

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  • Syfe Cash+ is a USD denominated money market portfolio that serves as an alternative to keeping cash in fixed deposits and savings accounts. Cash+ has no lock-up period or limits. Unlike bank savings accounts, there is no need to meet any qualifying criteria such as salary credits and / or credit card minimum spending to earn more yield on your savings. While Cash+ is invested in relatively low-risk USD money market funds, it is not capital guaranteed. Investors should be aware that positive distribution yield may not imply a positive return.

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  • Cash+ is currently composed of US Dollar money market funds. The objective of Cash+ is to achieve a return in US Dollars in line with or above the prevailing money market rates, with primary considerations of maintaining low risk and high liquidity. Syfe may alter the constituents and/or rebalance the allocations of Cash+ at any time in accordance with this investment objective.

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  • Yes, you may choose to only fund the Cash+ portfolio or any other Syfe portfolios. There is no minimum or maximum amount or number of portfolios you can fund.

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  • As part of the Securities and Futures Commission’s requirements on account opening and client onboarding approaches, we are required to verify your identity through an initial funding amount of not less than HK$10,000 (or approximately, USD 1,300) bank transfer from your bank account, in order to open a Syfe account for you.

     

    After account opening, there is no minimum sum required for Cash+. You can make fund transfers and withdrawals freely without incurring any fees.

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  • Internal transfer from other Syfe portfolios to Cash+ is not yet supported. However, such a feature will be coming soon, so stay tuned!

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  • Yes, you can move funds between your Syfe portfolios. Simply click on “Manage Funds” on your account dashboard to make a transfer. Under ordinary circumstances, it takes approximately 2-3 business days for funds to be transferred between different portfolios. It will take one extra business day if the transfer request is received after 8:30 am HKT.  An additional business day is required if it is on a US holiday.

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  • Fund Transfer

    For funds transfers: when the deposit request is received before 8:30 am HKT on a business day, you will see your funds credited to your Cash+ portfolio within 2-3 business days. It will take one extra business day if the deposit request is received after 8:30 am HKT. Do note when funding in Hong Kong currency on a US public holiday, it will take an additional 1 business day, given currency conversion is required.

    Withdrawal

    For withdrawals: if the request is received before 8.30 am HKT on a business day, your proceeds are usually credited to your designated bank account within 2-3 business days. It will take one extra business day if the withdrawal request is received after 8.30 am HKT. Do note when funding in Hong Kong currency during a US public holiday, it will take an additional 1 business day, given currency conversion is required.

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  • Add fresh funds to your Cash+ portfolio or transfer funds from your existing Syfe portfolio(s).

    1. Log in to your Syfe account and click the “+ Add new” on top to add a new portfolio.
      Screenshot_2022-10-17_at_12.40.45_PM.png
    2. Click on the Cash+ portfolio tile to select it and then click the Next button at the bottom to proceed.
      Screenshot_2022-10-26_at_7.24.30_PM.pngScreenshot_2022-10-26_at_7.26.36_PM.png
    3. Click on the Add portfolio button.
      Screenshot_2022-10-17_at_12.41.22_PM.png
    4. Fund either in HKD or USD and fill up the initial transfer amount for your Cash+ portfolio, then click “Save and proceed to transfer”
      Screenshot_2022-10-17_at_12.41.33_PM.png
    5. Transfer to the bank account according to the bank account details then hit “I have transferred”
      **You can hit “I will transfer later” if you decide to transfer the funds later on.
      Screenshot_2022-10-17_at_12.41.44_PM.png
    6. Click “Done” to confirm the Transfer Summary
      Screenshot_2022-10-17_at_12.41.58_PM.png

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  • We accept funds from individuals aged 18 and above.

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  • Returns (if any) on your Cash+ portfolio are accrued daily. As such, any returns earned will be automatically reflected in your Cash+ portfolio value.


    Staying invested allows returns, if any, to compound and grow. Should you opt to place a withdrawal request, you can choose to withdraw the total amount held in your Cash+ portfolio, including all returns earned.

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  • Your Cash+ portfolio’s balance does not contribute to your overall assets under management (AUM) when determining your Syfe pricing tier.

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  • Syfe Cash+ is a portfolio in our discretionary portfolio management service that is composed of money market funds that are generally considered very low risk. The constituent funds invest in low risk rated assets, such as USD short-term deposits, high-quality money market instruments, and debt securities. However, investment involves risks. You may refer to the offering documents of the constituent funds on their respective websites for further details including their risk factors.

     

    Cash+ is not a savings account or deposit and is not insured by the Deposit Protection Scheme


    All client funds in Syfe Cash+ are held at CCB (Asia) Trustee and HSBC Trustee (Hong Kong) Limited and any uninvested cash is held in Syfe HK’s Client Account with HSBC Hong Kong, which is regulated by the Hong Kong Money Authority. This means that your funds are held separately from Syfe’s own assets. Additionally, there is no lock-up, so you can choose to withdraw your money at any time with no exit penalties.

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  • Syfe itself does not charge any management fees for Cash+, nor other administrative fees.
    While there are fund-level fees of 0.23% p.a. charged within the current constituents, any rebates Syfe receives from them will be credited back to you. The resulting net fund-level fee is already included in the calculation for the yield Cash+ offers.

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  • Syfe Cash+ invests into the institutional share class of the constituent funds which retail investors do not normally have access to. The institutional share class of these funds have lower management fees and expense ratios.


    On top of that, Syfe does not charge any management fee on the Cash+ portfolio, and any fund-level rebates which we receive from the fund managers are passed on to clients. These added savings may enhance the net returns you receive from the Cash+ portfolio.

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  • You can fund and withdraw your funds in either Hong Kong dollars (HKD) or United States dollars (USD).

    For USD -

    1. Funding and withdrawals done through a HSBC bank account in Hong Kong, is currently free.
    2. Funds made from a non-HSBC bank may be subject to a bank fee.
    3. If you withdraw funds to a non-HSBC bank account and the transaction is processed through the local clearing platform in Hong Kong (CHATS), you may be charged HKD 55 by HSBC for the outgoing payment via RTGS. This charge is at the discretion of HSBC and is subject to change in the future. As the customer, you will be responsible for paying this fee.

    For HKD, as of now, there are no charges for both funding and withdrawals to a Hong Kong bank account. Though, as our portfolios are USD denominated, funds transferred in HKD will be converted into USD before being invested. Retail investors generally pay 0.30% or more in currency conversion fees when converting with banks, while Syfe customers are charged a much lower conversion fee.

     

    Syfe does not otherwise charge any funding, withdrawal or exit fees. You can fund or place a withdrawal request to or from any of your portfolios whenever you want.

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