Poems offering Amundi UT

[orlengtao]

waiver 1 is for SGX shares custodies under Phillip
waiver 2, same as above, but for non-SGX shares

Amundi funds are under Unit Trust, no such fees

but still there's account fee right?

1 Waiver condition is at least 1 trade per quarter for the account. Otherwise, S$15.00 (subject to GST) per quarter is chargeable on Mar, Jun, Sep, and Dec month end.

Open Cash Management Account instead..

 

[TerryPower]

but still there's account fee right?

Open Cash Management Account instead..

no. those fees are for shares only. Amundi funds are Unit Trust.

 

[CaptainWu]

Do you have the link to the report? I cannot seem to find. I am only able to find the Wealth Insights Report 2023.

https://endowus.com/insights/fund-digest-2024-wrap

 

[CaptainWu]

if you have amundi US in endowus, is it possible to transfer to POEMS in the future?

Not now but in the future I don't know.

 

[Eternit]

I am also waiting. But it seems like Amundi Prime USA is exclusively for Endowus. Like giving face to Sam Rhee.

Doesn't POEMS already have it? https://www.poems.com.sg/fund-finder/amundi-prime-usa-as-c-sgd-565004/

 

[edwinksl]

Doesn't POEMS already have it? https://www.poems.com.sg/fund-finder/amundi-prime-usa-as-c-sgd-565004/

Link says '(Not available for trading on POEMS)'

 

[rerear]

If you aim for Investing in Amundi then either one is okay and should be no difference. If you plan for investing stocks with CPF/SRS then use Cash Plus better with lower commission.

Hi thanks a lot! Certainly not intending to use POEMS for stocks, have other animal brokers for that. Intend to more use it for Amundi, using SRS or CPFOA.

Is there any example, that Cash Management Account will be better than Cash Plus Account? Is it that it has the Park and Earn? Was trying to digest this.

https://www.poems.com.sg/market-jou...de-to-cash-plus-and-cash-management-accounts/

 

[limster]

I am on Cash Management. When I opened my Poems account ages ago, no such thing as Cash Plus account.

I don't think there is any difference where unit trust investing is concerned, Cash Management they tell me to pay for my UT purchase within T+2 (or is it T+3... will check the next time I buy something), so if you pay immediately, you earn a few cents interest.

I presume Cash Plus is the same?

 

[CaptainWu]

I am on Cash Management. When I opened my Poems account ages ago, no such thing as Cash Plus account.

I don't think there is any difference where unit trust investing is concerned, Cash Management they tell me to pay for my UT purchase within T+2 (or is it T+3... will check the next time I buy something), so if you pay immediately, you earn a few cents interest.

I presume Cash Plus is the same?

Yep UT no difference, only when you invest in Stock then the system will check if you have enough cash for Cash Plus account before allowed you to execute.

 

[Spirax]

Who still buying SRS or CPF OA thru https://endowus.com/pricing ?

https://www.poems.com.sg/unit-trusts/funds-offered/fund-manager/amundi-singapore-limited-565/

 

[s0crates]

Who still buying SRS or CPF OA thru https://endowus.com/pricing ?

https://www.poems.com.sg/unit-trusts/funds-offered/fund-manager/amundi-singapore-limited-565/

Just got confirmation for my Jan CPF investment trade with endowus.

I am not convinced this is sustainable for poems. And I have too big an amount to shift from Endowus to poems without risking suffering 5 digit losses from being out of market.

The poems interface is hideous too. I think people who eventually get to invest well with Amundi through poems truly earn their right to the fee saving.

 

[limster]

It takes me 5 clicks to buy Amundi. Furthermore Poems 2FA is optional, so very easy to login

(1) press login button (userid/password autocompleted by browser)
(2) press account management
(3) press unit trust to see my existing holdings
(4) press the buy button next to Amundi Index MSCI World by buy more.
(5) enter amount, (password is auto-completed by browser). Done!

Instead of (2) and (3), you can go to watchlist (if you have previously added Amundi to your watchlist) and click on it to "trade", almost the same.

Amundi is just added diversification of custodians for me rather than total replacement. I'm still buying VWRD.

 

[CaptainWu]

I am not convinced this is sustainable for poems. And I have too big an amount to shift from Endowus to poems without risking suffering 5 digit losses from being out of market.

Switching is not easy if you have a big amount with Endowus as there is no direct transfer. If your fund AUM is big enough there should be a tier structure for Endowus? I am not sure if Endowus will be doing anything with the situation as Amundi being their top fund for clients at 2024, once Amundi Prime available with POEMS then the outflow might be even higher.

 

[limster]

Switching is not easy if you have a big amount with Endowus as there is no direct transfer. If your fund AUM is big enough there should be a tier structure for Endowus? I am not sure if Endowus will be doing anything with the situation as Amundi being their top fund for clients at 2024, once Amundi Prime available with POEMS then the outflow might be even higher.

Vanguard US 500 Stock Index Acc USD TER is 0.1% Irish domiciled IE0002639775 so 15% WHT vs Amundi USA 30%. If you are on FSMOne Diamond tier there is no platform fee.

Currently FSMOne only offers to FSM+ members. However, if Amundi diverts too much business to Poems, then FSMOne may want to offer it more widely to get back some business.

 

[CaptainWu]

Vanguard US 500 Stock Index Acc USD TER is 0.1% Irish domiciled IE0002639775 so 15% WHT vs Amundi USA 30%. If you are on FSMOne Diamond tier there is no platform fee.

Currently FSMOne only offers to FSM+ members. However, if Amundi diverts too much business to Poems, then FSMOne may want to offer it more widely to get back some business.

Okay I thought Prime USA is Domiciled Irish already, just checked still with Luxembourg

 

[s0crates]

Switching is not easy if you have a big amount with Endowus as there is no direct transfer. If your fund AUM is big enough there should be a tier structure for Endowus? I am not sure if Endowus will be doing anything with the situation as Amundi being their top fund for clients at 2024, once Amundi Prime available with POEMS then the outflow might be even higher.

I am buying single fund/cpf/SRS investments which are single flat fee, regardless of investment amount.

My friends are not aware of poems being cheaper; it's likely the folks on Reddit/hwz make up 90% of folks cashing out their endowus investments.

I also don't see much about Amundi funds from POEMS advertisements or emails lol.

It's not a bad thing imo. After all, endowus was the one that brings in a lot of cheap unit trust and I see poems free riding the work done by Amundi/endowus and hoping to use it as a loss leader.

If it's sustainable as a business model POEMS could have offered all of Endowus low cost funds. They are just testing water IMO

 

[s0crates]

Okay I thought Prime USA is Domiciled Irish already, just checked still with Luxembourg

Ucits unit trust us holdings will always be taxed at 30%. The 15% preferential rates are only for ucits ETFs afaik.

 

[limster]

Ucits unit trust us holdings will always be taxed at 30%. The 15% preferential rates are only for ucits ETFs afaik.

thanks for the clarification, then its more or less the same as the LUX domiciled Amundi.

 

[duhduhduh]

Did y'all submit the giro form for the RSP?

 

[Eternit]

I applied for a POEMS account on 10 Jan using Singpass. After 12 days still not approved. Somewhere in the middle they asked me to fill a ADDITIONAL CUSTOMER INFORMATION (ECDD) form, which I did, now my application still pending.

Bewildered by the speed. In comparison, Endowus took me 2 mins to apply, approved instantly and ready to trade.