Fullerton SGD Cash Fund Vs. Mari Invest SavePlus: Which One For Your Emergency Funds? – Beragampengetahuan

When it comes to finding better options to park idle funds for low-risk returns, bank accounts aren’t usually my top choice.

Instead, I have used both the Fullerton SGD Cash Fund and the Mari Invest SavePlus to boost my cash returns.

Both funds have their unique advantages, which I’ll cover in this article.

Quick Comparison: At-A-Glance

Feature	Fullerton SGD Cash Fund	Lion-MariBank SavePlus SGD Fund
Management	Active	Active
Benchmark	SGD Banks Saving Deposits Rate	MAS 3-Month T-Bill (MASB3M)
AUM (Q4 2025)	SGD 9b+	SGD 1b+
Current Yield (Q4 2025)	~1.64%	~1.47%
Inception Date	3 Feb 2009	5 Jul 2023
Negative Return Days	5 days from inception to Feb 2024	6 days from inception to Nov 2025
Instant Withdrawal	No (T+1 business day)	Yes (up to SGD 10,000 daily)
Fees & Charges	0.21% p.a.	0.25% p.a.
Min. Investment	$1	$1
Accessibility	Most brokerages	MariBank app only

Both are low-risk options that I’m comfortable parking six-figure sums in when rates were higher, and they represent an easy way to access better yields than traditional bank accounts.

What These Funds Actually Are

1. Fullerton SGD Cash Fund

The Fullerton SGD Cash Fund seeks to provide investors with liquidity while achieving returns comparable to the SGD Bank Saving Deposits rate benchmark.

It achieves this by leveraging its scale to obtain better pricing power on SGD deposits placed with financial institutions that have short-term investment-grade ratings.

Official Website: Fullerton SGD Cash Fund
My Full Review: Fullerton SGD Cash Fund Review

2. Lion-MariBank SavePlus SGD Fund

The Lion-MariBank SavePlus Fund SGD seeks to provide enhanced yield over Singapore Dollar deposits (MAS 3-Month T-Bill benchmark) while maintaining safety of capital, keeping overall portfolio risk low, and maintaining high liquidity.

The fund invests in an actively managed and broadly diversified portfolio of debt instruments, short-term money market instruments, and other collective investment schemes.

Official Website: Lion-MariBank SavePlus Fund SGD
My Full Review: Mari Invest (Lion-MariBank SavePlus Fund)

Both Funds Are Actively Managed

Both the Fullerton SGD Cash Fund and the Lion-MariBank SavePlus Fund SGD are actively managed by their respective fund managers.

This means professional teams are making allocation decisions to optimize returns within each fund’s risk parameters.

Different Benchmarks (And Why This Matters)

The benchmark for Fullerton SGD Cash Fund is the Singapore Dollar Banks Saving Deposits Rate.

The benchmark for Lion-MariBank SavePlus SGD Fund is the Monetary Authority of Singapore Benchmark Govt Bill Yield 3 Month (MASB3M Index).

These different benchmarks reflect their slightly different approaches:

• Fullerton targets bank deposit rates (very conservative)
• Mari SavePlus targets MAS bills (slightly more yield-seeking)

In practice, both have historically delivered similar returns, though Mari SavePlus has shown slightly more variability given its shorter track record.

Current Yields & The Reality Check

Here’s what you need to know: During 2023-2024, both funds were delivering attractive returns in the 3.5% to 4% range as Singapore’s interest rate environment was elevated.

The honest reality: These yields have come down significantly from their 2024 peaks. If you’re comparing this to what these funds were offering then, yes, they’re less compelling now. This is simply the reality of falling interest rates across the board. SORA rates have declined, and money market funds everywhere are showing lower yields. The era of easy 3-4% returns on ultra-safe, liquid cash products has passed for now.

My personal take: I have already placed most of my emergency funds into Singapore Savings Bonds and Astrea bonds, which offered yields above 3% but they come with longer lock-up periods. For those instruments, I locked in rates before they fell below 3%. The boat for attractive cash yield has essentially sailed. However, these funds still serve a purpose. They’re better than leaving money in a 0.05% savings account, and they offer significantly more liquidity than bonds.

How They Invest: Understanding What You’re Buying

Fullerton SGD Cash Fund Allocation

According to the fund factsheet, this is the exposure by Fullerton SGD Cash Fund as of November 2025.

The strict regulatory requirements for “cash funds” mean this is about as conservative as you can get outside of an actual bank account.

Mari Invest SavePlus Allocation

Based on the fund factsheet, this is the exposure by Mari Invest SavePlus as of November 2025. The Lion-MariBank SavePlus Fund has a more diversified allocation.

This allocation shows Mari SavePlus takes on slightly more duration risk (via the bond fund component), which historically translated to marginally higher yields.

You can read my article to understand the difference between Cash Funds, Money Market Funds, and Short Duration Bond Funds if you want to go deeper.

Track Record: Days of Negative Returns

How often do these funds actually “lose” money?

Fullerton SGD Cash Fund

Previously, I pulled the fund history from Yahoo Finance and checked the daily NAV price, but I’m no longer able to do so now. Since inception in February 2009, the Fullerton SGD Cash Fund has experienced only 5 days of negative returns until February 2024.

Here’s the breakdown:

Date	Daily Change
5 May 2021	-$0.00001 (-0.001%)
27 Jul 2021	-$0.00005
25 Nov 2021	-$0.00001
7 Dec 2021	-$0.00003
19 Jul 2022	-$0.00004

That’s 5 negative days out of approximately 3,900 trading days, or about 0.09% of the time.

To put this in context, a change of 0.01% on a $1,000,000 investment represents a $100 dip in value.

I won’t be losing any sleep even if I have six figures in Fullerton SGD Cash Fund.

Lion-MariBank SavePlus Fund SGD

I pulled the fund history from the official website and checked the daily NAV price. It has experienced six days of negative returns since the fund was created (as of Nov 2025):

Date	Daily Change
5 Jul 2023	-$0.0001 (-0.01%)
24 Jul 2023	-$0.0001
17 Aug 2023	-$0.0001
20 Dec 2023	-$0.0002
21 Mar 2024	-$0.0001
26 Sep 2025	-$0.0001

That’s 6 negative days out of 860 days, or about 0.7% of the time.

To put this into context, a change of 0.01% for a $1,000,000 investment represents a $100 dip in value.

For what it’s worth, these are still pretty remarkable numbers if you’re willing to hold for at least a few days.

I’m extremely comfortable having six figures in Lion-MariBank SavePlus Fund SGD when rates were higher, and it doesn’t affect my sleep at all.

The caveat is that it has a somewhat shorter history, so keep this in mind if you’re particular about this aspect.

The Strict Definition Of What Cash Funds Are

One thing I learned from MoneyOwl when they offered access to the Fullerton SGD Cash Fund was the significance of the phrase “cash fund.”

Why does this matter? Because “cash fund” is an extremely strict classification of investment products regulated under the MAS Code on Collective Investment Schemes.

The regulations state that fund names should be appropriate, not misleading, and that the word “cash” should not appear in fund names unless they comply with specific money market requirements, including:

• At least 10% of net asset value in daily maturing assets
• At least 20% of net asset value in weekly maturing assets
• Specific asset and duration limits

When retail investors see the term “cash fund,” they know exactly what they’re getting into—extremely conservative, highly liquid investments.

This is one important point that’s reassuring to know if you’re going to invest your hard-earned money into the Fullerton SGD Cash Fund. It’s not just marketing; it’s a regulated classification that comes with strict requirements.

By comparison, the Lion-MariBank SavePlus Fund is more accurately described as a money market fund rather than a pure cash fund, given its allocation to bond funds and slightly longer duration instruments.

This doesn’t make it risky. It just means it sits one small step higher on the risk spectrum compared to Fullerton’s pure cash fund approach.

Liquidity: The Key Differentiator

This is where things get interesting.

Fullerton SGD Cash Fund: T+1 Settlement

The liquidity for Fullerton SGD Cash Fund is excellent. It takes only one working day for withdrawals to be processed and money deposited into your bank account.

I’ve detailed my withdrawal experience when I invested via MoneyOwl here, and there’s no reason other providers wouldn’t be able to process withdrawals just as quickly.

Lion-MariBank SavePlus Fund: Instant Withdrawal (Up To $10,000)

Here’s where Mari Invest SavePlus has a unique edge.

All sell orders are automatically processed as instant withdrawals, subject to a daily instant withdrawal limit of S$10,000.

This means if you need $10,000 right now (say it’s 3am and you have an emergency), you can withdraw it instantly from Mari Invest and have the cash in your MariBank Savings Account within seconds.

For amounts above $10,000, you’ll need to wait until the end of the next business day, just like other money market funds.

Why this matters: This instant liquidity feature makes Mari Invest behave a little like a bank account, compared to a traditional investment fund. It’s genuinely useful if you’re parking emergency funds that you might need immediate access to.

Asset Under Management (Size Matters)

Even if you have a significant amount to deploy (say, a couple of million dollars), adequate fund sizes ensure that your deposit will not have any issues.

As of Nov 2025:

• Fullerton SGD Cash Fund: $9+ billion
• Lion-MariBank SavePlus SGD Fund: $1+ billion

Fullerton SGD Cash Fund’s much larger size means it can absorb substantial investments without any issues. Mari Invest SavePlus grew rapidly, and is capable of taking in huge investments as well.

For most retail investors parking any amount of money, both funds have sufficient capacity.

Fees & Charges

Fullerton SGD Cash Fund: 0.21% per annum

Lion-MariBank SavePlus Fund SGD: 0.25% per annum

What does this mean in dollars?

On a $10,000 investment:

• Fullerton: $21/year
• Mari SavePlus: $25/year
• Difference: $4/year

On a $100,000 investment:

• Fullerton: $210/year
• Mari SavePlus: $250/year
• Difference: $40/year

These fees are already factored into the daily unit price shown, so you won’t see separate deductions—the returns you see are after fees.

Minimum Investment & Accessibility

Minimum Investment

Both funds have a $1 minimum investment, though this may vary slightly depending on which platform you use.

Where Can You Access Them?

Fullerton Cash Fund SGD is a mega-fund given its AUM size and is available via an enormous list of providers, including:

• Endowus (get $20 off fees with my referral)
• Moomoo / Tiger / Webull
• Most other Singapore brokerages

Lion-MariBank SavePlus Fund SGD is currently available only via Mari Invest by MariBank.

This is both a strength (seamless integration with MariBank app) and a limitation (can’t access it elsewhere).

Decision Framework: Which One Should You Choose?

Here’s how to decide:

Choose Fullerton Cash Fund if:

• You want the longest track record (15+ years vs 18 months)
• You want the strictest safety classification (regulated cash fund vs money market fund)
• You prefer lower fees (0.21% vs 0.25%)
• You want broad platform access (available on multiple brokerages)
• You’re okay with T+1 liquidity (next business day withdrawal)

Choose Mari Invest SavePlus if:

• You need the instant $10k withdrawal feature for emergencies
• You want seamless integration with MariBank for easy transfers
• You already use MariBank as your primary bank
• You’re comfortable with a shorter track record but growing fund
• The slightly higher fee doesn’t bother you

My personal allocation: I only use Mari Invest SavePlus. Here’s why in the next section.

My Personal Take: Why I Only Use Mari Invest SavePlus

I have used these funds extensively in 2023 and continued into 2024, though I’ve adjusted my approach as rates have fallen.

For 24/7 instant liquidity on all funds: High-interest bank accounts are still number one. MariBank Savings Account gives me that immediate access for truly urgent needs.

For the next level of liquidity: Mari Invest supports this with another $10,000 available instantly, anytime, anywhere. This is my “pseudo-bank account” for emergency funds that might need quick access.

For the bulk of idle funds (which isn’t much): I put them into Mari invest SavePlus Fund. For these, I’m okay waiting slightly longer for withdrawals.

For longer-term emergency reserves: I’ve moved most of my emergency funds into Singapore Savings Bonds and Astrea 9 Private Equity (PE) Bonds, which offered above 3% yields but with longer redemption periods. I locked these in before rates fell, but that opportunity has largely passed.

The reality today: With current yields in the 1-2% range for both Fullerton and Mari SavePlus, these funds are less compelling than they were during 2024. They’re still useful for short-term parking of funds you might need within days or weeks, but they’re no longer the amazing “easy 4% yield” they once were.

I’m not stressed about choosing one fund over the other. I chose to use just Mari Invest SavePlus because it serves its purpose in my overall cash management strategy, and comes with instant $10,000 liquidity.

Bottom Line

Both the Fullerton Cash Fund and Lion-MariBank SavePlus Fund are sufficiently low-risk for parking idle funds, though current yields (1-2% range) are significantly lower than their 2024 peaks of 3-4%.

The key decision factor: Do you value instant $10k withdrawal (Mari Invest) or do you prefer the longest track record and lowest fees (Fullerton)?

For most people with $50k+ in emergency funds, using either makes sense. There is no need to split allocation to get the best of both worlds.

Just remember: these are no longer the “amazing yield” options they were 12-18 months ago. If you want higher returns, you’ll need to accept longer lock-up periods with instruments like Singapore Savings Bonds.

Official Websites

Endowus Referral Code ($20 Off Fees)

Use my referral link when signing up for Endowus to unlock current promotions.

→ See latest Endowus Rewards & Referral Program

We both benefit – I earn a reward only after you receive yours.

MariBank Referral Code ($12 Cash)

Use code 6RCP85LA when signing up for any MariBank product to unlock current promotions.

→ See latest MariBank sign-up bonuses

We both benefit – I earn a reward only after you receive yours.

Kevin started beragampengetahuan when his net worth languished at negative $25,755. His desire to turn things around led him to build passive income from investments and side hustles that pay for his daily expenses and vacations. You can learn more about Kevin here.