PhilipCapital Poems SmartPark (money market fund)

Yes, it is legit and been using it for many years. I think the current rate is about 3.4% although it changes daily.

Hey there, it's great that you're exploring options to optimize your cash holdings and make your money work harder. With interest rates on the rise, a lot of savvy investors are looking beyond traditional savings accounts to park their funds.

I recently had a client in a similar position - she had already locked in some good FD rates but wanted to earn more on her remaining cash without taking on too much risk. After assessing her unique situation and goals, we decided to allocate a portion to money market funds for that sweet spot of liquidity and yield. She was pleasantly surprised by the returns and flexibility compared to her bank accounts.

Many people assume you need to lock up your cash for years to beat the banks' paltry interest rates. But the truth is, there are short-term instruments like MMFs that can provide attractive yields without sacrificing accessibility. The key is understanding your cash flow needs and pairing the right mix of products.

Regarding the Phillip SMART Park fund specifically, here are some key things to note:

• It's a SGD money market fund that invests in short-term, high-quality debt
• Assets are well-diversified across banks, government, and corps to manage risk
• Offers daily liquidity, so you can access your cash anytime without penalties
• Projected yield of around 3.2% p.a. based on current interest rate environment*

While the exact daily returns will fluctuate, a $10K investment could earn around $0.80 per day at those rates. Of course, MMF yields are not guaranteed like FD rates, but they can be a great way to squeeze out more returns on your spare cash.

If you're interested in exploring how cash management solutions like MMFs could fit into your overall financial plan, feel free to slide into my DMs @ngooooied. I'm always happy to geek out on optimizing my clients' portfolios!

*Disclaimer: Projected yields are based on current market conditions and not guaranteed. Past performance is not indicative of future returns. Please read the fund prospectus for detailed risks and fees before investing.