The United Managed Cash Fund was supposed to be a new money market fund launched by UOB Asset Management Ltd (“UOBAM”).
As it invests in high quality short-term bank deposits, it provides a channel for you to get better returns from your savings without the need to lock your money in. With economies of scale, unit holders can enjoy higher interest rates compare to Singapore-dollar fixed deposit rates.
Just received news yesterday that UOB Asset Management Ltd (“UOBAM”) has decided not to proceed with the launch of United Managed Cash Fund.
Investors who have invested in the fund would have their proceeds refunded to them. More information will be sent from UOBAM will to unit holders accordingly.
Until there is further information from UOBAM, it remains unclear whether this fund will be relaunched in the future.