Endowus Cash Smart

[FinalDestiny...]

Anyone joined this recently? Any feedback?

I believe Endowus offers the most options and flexibility in terms of funds choices among the cash management accounts in the market. Endowus recently launched Cash Smart Ultra as well, the 3rd cash management option besides Cash Smart Core & Enhanced.

You can scroll back a few pages to see the returns of some who have placed $$ in Cash Smart.

 

[luvalist]

Anyone joined this recently? Any feedback?

I did! I joined in July 20.

And to get higher returns (coz they announced drop in Nov) I created a separate portfolio to invest 100% in fullerton short term interest rate (which is part of cash smart enhanced).

So far ok la fuss free. But returns not high (atm 0.59%). Think need to wait for trailer rebates for higher returns.

Do u still need referral?

 

[Shutterfly]

I did! I joined in July 20.

And to get higher returns (coz they announced drop in Nov) I created a separate portfolio to invest 100% in fullerton short term interest rate (which is part of cash smart enhanced).

So far ok la fuss free. But returns not high (atm 0.59%). Think need to wait for trailer rebates for higher returns.

Do u still need referral?

My account still pending. When will they give the trailer rebates?

 

[luvalist]

Aiya missed the referral.

So far I haven’t received any trailer rebates for cash smart. Only receive abit of interest.

My account still pending. When will they give the trailer rebates?

 

[s0crates]

Anyway fun fact I was trying to replicate syfe's Cash+ on the Endowus fund smart to understand the past performance and volatility.

Turns out the Lionglobal Short Duration Bond Fund is not even available on Fund Smart as a cash mgmt solution. It is placed under fixed income, and it's deemed too aggressive because it has a -6.56% worst one year return. Ouch.

From the charts seems like August to December 2008 there is a huge drop in value of the fund.

Too bad cannot see how the entire mix of syfe cash plus has done historically, but I wouldn't be surprised if the August 2008 poor performance remains....

 

[gold_eagle36]

Anyway fun fact I was trying to replicate syfe's Cash+ on the Endowus fund smart to understand the past performance and volatility.

Turns out the Lionglobal Short Duration Bond Fund is not even available on Fund Smart as a cash mgmt solution. It is placed under fixed income, and it's deemed too aggressive because it has a -6.56% worst one year return. Ouch.

From the charts seems like August to December 2008 there is a huge drop in value of the fund.

Too bad cannot see how the entire mix of syfe cash plus has done historically, but I wouldn't be surprised if the August 2008 poor performance remains....

There's fullerton short term interest rate fund. Under fund smart, cash mgt, 3.5% risk

 

[FinalDestiny...]

My account still pending. When will they give the trailer rebates?

Endowus will pay out the trailer fee rebates as soon as they receive it from the fund manager.

I have received it from time to time for my cash investments

Posted from PCWX using âš*ï¸*

 

[snorex]

Why is it that after making a purchase, it takes 3 - 5 business days for a trade confirmation to happen. How do you guys check whether the unit purchase price is indeed accurate?

For example, what happens if they actually did the trade on day 1 for $1 but then the price rose to $2 on day 3. Instead of telling me my unit purchase price is $1, they instead tell me it is $2.

Seems dodgy to me?

 

[hwmook]

Why is it that after making a purchase, it takes 3 - 5 business days for a trade confirmation to happen. How do you guys check whether the unit purchase price is indeed accurate?

For example, what happens if they actually did the trade on day 1 for $1 but then the price rose to $2 on day 3. Instead of telling me my unit purchase price is $1, they instead tell me it is $2.

Seems dodgy to me?

I don't understand your question. The purchase price is given in the transaction history. The date of purchase is always the next business day or max 2 days. The date they marked transaction completed will be another 1-2 business day. I have never seen any transactions that take more than 3 working days to close.

 

[snorex]

I don't understand your question. The purchase price is given in the transaction history. The date of purchase is always the next business day or max 2 days. The date they marked transaction completed will be another 1-2 business day. I have never seen any transactions that take more than 3 working days to close.

Hey thanks for the response.

Endowus themselves say that transactions can take 4-6 business days to process.

In my most recent purchase, excluding new year and weekends, you can also see from the time of the emails that clearly mine took a while to process (https://i.imgur.com/aLzRShq.png).

And even if I take your 1-2 business days to be the norm, how do I ensure that I indeed got the price that was market? For example, if I place order now at 2pm when unit price is $1 and then the price goes up to $5 subsequently at 5pm. How do I know that EndowUs (despite entering at a unit price of $1) would report that my entry price is $5 (and making keeping the difference of $4 to themselves)? It's this lack of transparency that makes me uncomfortable about using such platforms.

Thanks.

 

[s0crates]

I think it's confusing, but it's executed at the fastest speed possible (same day NAV or 1 day later for cpf/SRS)

https://endowus.com/support/3600005...-are-the-cut-off-times-to-submit-transactions

An example of a cash investment:

If you submit a trade before the cut-off time 12:30pm on a Valid Business Day, your trade will be submitted to UOB Kay Hian, our partner broker, on the same day and they will send this to the custodian of the underlying security for execution on the same day. You can assume that the order will be completed at the next price change of the underlying instruments, which should be on the same business day.

Hey thanks for the response.

Endowus themselves say that transactions can take 4-6 business days to process.

In my most recent purchase, excluding new year and weekends, you can also see from the time of the emails that clearly mine took a while to process (https://i.imgur.com/aLzRShq.png).

And even if I take your 1-2 business days to be the norm, how do I ensure that I indeed got the price that was market? For example, if I place order now at 2pm when unit price is $1 and then the price goes up to $5 subsequently at 5pm. How do I know that EndowUs (despite entering at a unit price of $1) would report that my entry price is $5 (and making keeping the difference of $4 to themselves)? It's this lack of transparency that makes me uncomfortable about using such platforms.

Thanks.

 

[Kojo0403]

I think it's confusing, but it's executed at the fastest speed possible (same day NAV or 1 day later for cpf/SRS)

https://endowus.com/support/3600005...-are-the-cut-off-times-to-submit-transactions

An example of a cash investment:

If you submit a trade before the cut-off time 12:30pm on a Valid Business Day, your trade will be submitted to UOB Kay Hian, our partner broker, on the same day and they will send this to the custodian of the underlying security for execution on the same day. You can assume that the order will be completed at the next price change of the underlying instruments, which should be on the same business day.

interesting.. does it mean that it’s faster than stashaway? wonder if anyone has made comparison between them in terms of deposit and withdrawal speed.
My experience with stashaway is min 3 days.. sometimes i felt longer

 

[snorex]

I think it's confusing, but it's executed at the fastest speed possible (same day NAV or 1 day later for cpf/SRS)

https://endowus.com/support/3600005...-are-the-cut-off-times-to-submit-transactions

An example of a cash investment:

If you submit a trade before the cut-off time 12:30pm on a Valid Business Day, your trade will be submitted to UOB Kay Hian, our partner broker, on the same day and they will send this to the custodian of the underlying security for execution on the same day. You can assume that the order will be completed at the next price change of the underlying instruments, which should be on the same business day.

Thanks for the clarification. Guess you still have to trust them after all. Cause same day execution doesn't negate the possibility that they give you a higher unit price when they actually entered at a lower price.

 

[hwmook]

Thanks for the clarification. Guess you still have to trust them after all. Cause same day execution doesn't negate the possibility that they give you a higher unit price when they actually entered at a lower price.

Unit trusts only got 1 price a day. I seriously don't understand your question. If the purchase date is 07Jan21 then the price is the same across all platforms and can be verified easily.

 

[snorex]

Unit trusts only got 1 price a day. I seriously don't understand your question. If the purchase date is 07Jan21 then the price is the same across all platforms and can be verified easily.

Ah ok. That was where I misunderstood. I thought it was like an ETF where prices fluctuate by the second.

 

[hwmook]

Ah ok. That was where I misunderstood. I thought it was like an ETF where prices fluctuate by the second.

ETF is tricky for these robo advisors as I am not sure how they determine the purchase price also. Unit trusts is quite clear cut as there is a official NAV for this fund on this date.

 

[Kojo0403]

ETF is tricky for these robo advisors as I am not sure how they determine the purchase price also. Unit trusts is quite clear cut as there is a official NAV for this fund on this date.

ETF will have an official NAV too. Usually it’s published on the issuer website and it’s also i available on bloomberg.
SGX listed ETFs are supposed to make weekly announcement on their NAV on sgx website too.

 

[s0crates]

You probably misunderstand hwmook.

The problem with etf robos is that you don't know the execution price which they bought the shares at, given its exchange traded.

If you are used to brokerage, you know what's a limit/market order, and you immediately know how many units you get, at what price when trade is executed.

With robos that does etf (or even their own reits lol), you don't know how they come up with their execution price within that day, since it's exchange traded. How do we verify it's exactly that amount?

If they work with the broker to execute the purchase of 500,000 shares of an etf at a weighted average price of $1, does it mean that this 500,000 shares are the total orders out up by clients? What if the total orders made is 500,100 shares and they told clients it's 500,100 shares?

Is there anyone that can do the reconciliation and make sure the number ties beyond the roboadvisors? That's the risk of comingled account btw. All the money is mixed up and you are reliant on one party to keep the books all tied up. The level of trust given is really high.

It's quite risky.

ETF will have an official NAV too. Usually it’s published on the issuer website and it’s also i available on bloomberg.
SGX listed ETFs are supposed to make weekly announcement on their NAV on sgx website too.

 

[cassowary18]

If you're the kind who will lose sleep over losing out by a tick or two from the best price of an ETF, robos are probably not for you... Robos are really for people who are too lazy to create their own portfolio

 

[hwmook]

ETF will have an official NAV too. Usually it’s published on the issuer website and it’s also i available on bloomberg.
SGX listed ETFs are supposed to make weekly announcement on their NAV on sgx website too.

ETF are traded freely, price at 9am is probably different from price at 3pm so how do they determine the purchase price for the day. Over long term, it probably doesn't matter but if you are short term investor then some might be worried that they are not getting the best price for the day.