3 months ago, I reviewed moomoo Cash Plus in a blog article. For a sector that reacts and moves in seconds, 3 months is indeed a long time. Between now and then, the Fed had surprised market observers by relentlessly hiking interest rates. As a result, we now expect higher interest rates across the different products (i.e. Singapore Savings Bonds, Singapore T-bills, Money Market Funds). Moomoo SG is not resting its laurels either and has upped its promotion to offer guaranteed 5%* p.a. return rewards on your Cash Plus subscription product.
My investment in moomoo Cash Plus
I invested my idle funds in moomoo Cash Plus sometime in September as I gradually took profit off some equity counters during the bear rally. This investment has done well so far, registering 0.5% return in just 2 months as shown in Diagram 1.
Diagram 1: Performance of Heartland Boy’s funds in moomoo Cash Plus
If I annualize it, the return would be approx. 3%, higher than the 7-day return of 2.14% when I made my initial investment. Given rising interest rates, Fullerton SGD Cash Fund’s updated 7-day annualized yield is now 3.21% as shown in Diagram 2.
Diagram 2: 7-day annualized yield of Fullerton SGD Cash Fund as at 7 Nov 2022 (Source: moomoo)
Considering that redemption/withdrawal can be done relatively quickly, 3.21% return for an investment with high liquidity definitely deserves its place in an investor’s portfolio.
Well, this return can be improved further to a guaranteed 5%* p.a. return rewards if one participates in moomoo Cash Plus latest promotion. Whether you are a new user or an existing user, you can all participate in this limited-time promotion that is timed to coincide with the ongoing World Cup 2022 as well. Let me explain the promotion mechanics.
5%* p.a. Return Rewards and World Cup Campaign (for New Users)
New users who sign up from now till the end of the year will score a guaranteed, 5% p.a. Return Rewards (annualized) for 90 days simply by investing a minimum of S$100 in moomoo participating funds. Since this promotion is fairly attractive, the maximum investment eligible for this promotion is understandably capped at S$10,000. Here is a worked example:
$10,000 (maximum investment) X 5% (guaranteed return) X (90/365 days) = S$123.28.
Note that this is a guaranteed return during the 90-day period as moomoo SG will top up the difference to 5% vis-à-vis the actual returns of the underlying funds (both SGD Fullerton Cash Fund and CSOP USD Money Market Funds).
Most importantly, note that this 5%* guaranteed return is stackable with New User promotion which is valued at around S$220.
5% p.a. Return Rewards and World Cup Campaign (for Existing Users)
For Existing Users, they get to enjoy 5%* p.a. guaranteed return for 30 days for every referral made during the promotion period, capped at 6 referrals. With the cap of 6 referrals eligible for the promotion, this implies that the 5%* guaranteed return is capped to 6X30 = 180 days. Here’s a worked example to minimize any possible confusion:
$10,000 (maximum investment) X 5% (guaranteed return) X (180/365 days) = S$246.57.
For readers who are already existing account holders with moomoo SG, this is a good opportunity to boost your returns by referring this campaign to your friends.
5%* p.a. Return Rewards and World Cup Campaign
Since World Cup fever is upon us, join in the fun by voting for the winning team to get a share of S$50,000 Cash Coupons. All you need to do is to guess 3 matches correctly. This contest is opened to all users.
Finally, do head down to moomoo SG’s pop-up booths at 313 Somerset (28 Nov – 4 Dec) and Bedok Mall (7 Dec -20 Dec) to soak in the festivities and score a goodie bag!
*T&Cs apply
Disclaimer: All views express in the article are the independent opinion of Heartland Boy. The information in this article is meant purely for informational purposes and should not be relied upon as financial advice. This article has not been reviewed by the Monetary Authority of Singapore.
When yield is mentioned, this is referring to the indicative 7-day annualised yield derived from the past performance of the USD money market fund and should not be viewed as an indicator of future results.
When no negative monthly returns is mentioned, the data is accurate as of 20 November 2022 and is derived from the past performance of the money market fund on moomoo cash plus and should not be viewed as an indicator of future results
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