EndowUs Roboadvisor: investing using CPF

[tidalstorm]

Thanks wood and badsector for the response.

Badsectir received yr pm liao. �

 

[decibel.]

Just received statement from UOB. My EndowUs portfolio is reported as cash and unit trust category. Anyone knows why the cash asset for Kay Hian reports as Liability? I thought it should be $0 but this time they report negative of my monthly invested amount?

Sent from HUAWEI VOG-L29 using GAGT

 

[Mr. Wood]

Just received statement from UOB. My EndowUs portfolio is reported as cash and unit trust category. Anyone knows why the cash asset for Kay Hian reports as Liability? I thought it should be $0 but this time they report negative of my monthly invested amount?

Sent from HUAWEI VOG-L29 using GAGT

is it management fee?

 

[Mr. Wood]

anyone knows, if I invest only using cpf, will the management fee be deducted thru cpfoa? or endowus will sell units off to recover the fees?

 

[FinalDestiny...]

anyone knows, if I invest only using cpf, will the management fee be deducted thru cpfoa? or endowus will sell units off to recover the fees?

They will sell units off for the management fees.

 

[cfleee]

Just received statement from UOB. My EndowUs portfolio is reported as cash and unit trust category. Anyone knows why the cash asset for Kay Hian reports as Liability? I thought it should be $0 but this time they report negative of my monthly invested amount?

Sent from HUAWEI VOG-L29 using GAGT

I just got my first set of statements from UOBKH and was a bit puzzled by something similar -- negative amount in cash as part of the "Financial Products" section but positive amount in the account summary. It seems that they just haven't transferred the amount from the trust cash account (is that the right term?) into the investment account yet?

 

[decibel.]

I just got my first set of statements from UOBKH and was a bit puzzled by something similar -- negative amount in cash as part of the "Financial Products" section but positive amount in the account summary. It seems that they just haven't transferred the amount from the trust cash account (is that the right term?) into the investment account yet?

Yeah seems to be that although it should clear before the month end but I guess the process took longer for them to deduct from my SRS to UOB that's why show as negative. Anyone knows if we have online account for UOBKH to view all transactions real time? Right now only have hardcopy letters?

Sent from HUAWEI VOG-L29 using GAGT

 

[cfleee]

Yeah seems to be that although it should clear before the month end but I guess the process took longer for them to deduct from my SRS to UOB that's why show as negative. Anyone knows if we have online account for UOBKH to view all transactions real time? Right now only have hardcopy letters?

Sent from HUAWEI VOG-L29 using GAGT

Someone asked about accessing UOBKH directly on a recent webinar, answer seems to be no, though for some reason they suddenly mentioned opening your own UOBKH account instead - maybe they mean an entirely separate account but probably best to ask support to confirm.

They said that they are working on getting e-statements up though which would be great, I'm really not looking forward to having scan paper statements every month again, like it's 2010...

 

[decibel.]

Someone asked about accessing UOBKH directly on a recent webinar, answer seems to be no, though for some reason they suddenly mentioned opening your own UOBKH account instead - maybe they mean an entirely separate account but probably best to ask support to confirm.

They said that they are working on getting e-statements up though which would be great, I'm really not looking forward to having scan paper statements every month again, like it's 2010...

I don't even bother scanning now. Hopefully we can have our online account with UOBKH. Doesn't make sense to open my own. My impression is the one that's linked is my own already as what EndowUs promised also that they aren't custodian. So far I feel not bad, maybe after a year if experience still good I might consider putting CPF OA on this too.

Sent from HUAWEI VOG-L29 using GAGT

 

[5408854088]

is Endowus the only non-insurance company that all has options for CPFIS? their minimum investment of $10k seems steep, will be good if they do away with the minimum and start off with monthly top-up.

 

[Mr. Wood]

anyone saw this comparison chart be4?
u think is possible that dollardex as a fund distrubutor can get cheaper management fee than endowus?

 

[zoneguard]

anyone saw this comparison chart be4?
u think is possible that dollardex as a fund distrubutor can get cheaper management fee than endowus?

Interesting..where did this chart come from? Dollardex?

 

[cfleee]

anyone saw this comparison chart be4?
u think is possible that dollardex as a fund distrubutor can get cheaper management fee than endowus?

I'm sure can find one specific example here and there. Like how Fullerton SGD Cash Fund by itself is same or lower cost directly through other platform, instead of through Endowus Cash Smart or Stashaway Simple.

Is it technically right? Yes, if you really only want to buy only S&P 500 as a mutual fund. In which case comparing against a single fund in a globally diversified portfolio is a bit strange in the first place. Instead I might actually wonder whether paying 0.996% instead of 0.70% is a good deal for the added diversification.

The same strange game can be played the other way - since the CPF box is empty, maybe let's look at the Endowus SRS portfolios for some other fund? Can't get DFA funds through Dollardex, so PIMCO funds it is. The most expensive fund is almost certainly EM, so PIMCO GIS Emerging Markets Bond Fund Class E Acc SGD Hedged - Unified Management Fee 1.69%. On the other hand, Endowus accesses the institutional acc SGD hedged share class at 0.79%, though I can't remember whether there's any further rebate on the PIMCO funds.

Does picking that one fund make a fair comparison? Not really also, maybe assembling an equally diversified portfolio at Dollardex would be a better comparison, once that's done then you can calculate the total ongoing cost and the minimum initial/subsequent investment amount.

 

[zoneguard]

I replicated the numbers for "Infinity Global Stock Index Fund SGD" based on the factsheet. So the TER at dollarDex will be 0.75%.

BTW both Infinity funds are CPFIS OA approved if you check the prospectus pg 16 but only UOB KH offers the CPF versions. I don't know why this is exclusive to this distributor.

 

[s0crates]

The fund factsheet is not inclusive of a 0.1% p.a. fee which is payable by infinity fund to vanguard. Endowus rep in 1m65 telegram say it's highlighted in the prospectus of the infinity fund, which dollardex didn't take into account.

anyone saw this comparison chart be4?
u think is possible that dollardex as a fund distrubutor can get cheaper management fee than endowus?

 

[s0crates]

Read footnote 3....

There may also be charges payable to the fund to vanguard. The 0.75% is not TER.

I replicated the numbers for "Infinity Global Stock Index Fund SGD" based on the factsheet. So the TER at dollarDex will be 0.75%.

BTW both Infinity funds are CPFIS OA approved if you check the prospectus pg 16 but only UOB KH offers the CPF versions. I don't know why this is exclusive to this distributor.

 

[Han Shot First]

anyone saw this comparison chart be4?
u think is possible that dollardex as a fund distrubutor can get cheaper management fee than endowus?

Why is the Annual Management Fee lower at 0.475% (if bought via dollarDEX) and higher at 0.575% (if bought via Endowus)?

Does it mean LionGlobal does a "mark-up" for Endowus and then provide a rebate to Endowus? If Endowus accepts those terms, Endowus must be either a stupid financial advisor or a weak one.

Also what is the trailer fee for dollarDEX? If dollarDEX does not disclose, then they are dishonest and/or lack integrity.

BTW, from where did you get the chart?

 

[s0crates]

dollardex charges are not all in. If you read the fund factsheets and prospectus carefully you will realise there is a missing 0.1% charge.

Why is the Annual Management Fee lower at 0.475% (if bought via dollarDEX) and higher at 0.575% (if bought via Endowus)?

Does it mean LionGlobal does a "mark-up" for Endowus and then provide a rebate to Endowus? If Endowus accepts those terms, Endowus must be either a stupid financial advisor or a weak one.

Also what is the trailer fee for dollarDEX? If dollarDEX does not disclose, then they are dishonest and/or lack integrity.

BTW, from where did you get the chart?

 

[Mr. Wood]

Interesting..where did this chart come from? Dollardex?

yes frm dollardex
edit: original is frm dollarex, circulating in my pte cht grp

Why is the Annual Management Fee lower at 0.475% (if bought via dollarDEX) and higher at 0.575% (if bought via Endowus)?

Does it mean LionGlobal does a "mark-up" for Endowus and then provide a rebate to Endowus? If Endowus accepts those terms, Endowus must be either a stupid financial advisor or a weak one.

Also what is the trailer fee for dollarDEX? If dollarDEX does not disclose, then they are dishonest and/or lack integrity.

BTW, from where did you get the chart?

chart frm dollardex. (edit: original is frm dollarex, circulating in my pte cht grp)

yah strange the management fee is diffnt for both.
so far nvr see fund distributors disclose trailer fees. same same fsm, ifast..

 

[Mr. Wood]

I'm sure can find one specific example here and there. Like how Fullerton SGD Cash Fund by itself is same or lower cost directly through other platform, instead of through Endowus Cash Smart or Stashaway Simple.

Is it technically right? Yes, if you really only want to buy only S&P 500 as a mutual fund. In which case comparing against a single fund in a globally diversified portfolio is a bit strange in the first place. Instead I might actually wonder whether paying 0.996% instead of 0.70% is a good deal for the added diversification.

The same strange game can be played the other way - since the CPF box is empty, maybe let's look at the Endowus SRS portfolios for some other fund? Can't get DFA funds through Dollardex, so PIMCO funds it is. The most expensive fund is almost certainly EM, so PIMCO GIS Emerging Markets Bond Fund Class E Acc SGD Hedged - Unified Management Fee 1.69%. On the other hand, Endowus accesses the institutional acc SGD hedged share class at 0.79%, though I can't remember whether there's any further rebate on the PIMCO funds.

Does picking that one fund make a fair comparison? Not really also, maybe assembling an equally diversified portfolio at Dollardex would be a better comparison, once that's done then you can calculate the total ongoing cost and the minimum initial/subsequent investment amount.

yup, u are right if want portfolio of funds, rather go to endowus or some robos. maybe, juz maybe, overall pay a bit more, but can get auto rebalancing and no upsellings.

i think dollardex compare dis infinity fund only becoz they oso know a lot of pple go to endowus only wanting to buy S&P500.