Poems offering Amundi UT

[mr_beanz]

I refer to the below link to a related discussion on reddit. Somewhere after the few posts, you will note that there is a post by "smileperson1" who appears to be from Moneyowl. He/ She explained that this whole initiative is pro bono work by Moneyowl and Poems, and they are in for the long haul. Make what you want of it.

https://www.reddit.com/r/singaporefi/s/MMJu17Bhv8

 

[TerryPower]

I wonder what is the cost for Poems for hosting 2 funds on it's platform? I am thinking once the platform is built, adding more unit trusts only result in minimal incremental cost. The marketing for the Amundi funds is all done by Moneyowl. Hopefully it's sustainable commercially for Poems.

It's good marketing. Last I saw people talking about POEMS was when M1 was still listed. People were discussing Vickers, POEMS or Stand Chart is the best broker.

 

[yslvlys]

I refer to the below link to a related discussion on reddit. Somewhere after the few posts, you will note that there is a post by "smileperson1" who appears to be from Moneyowl. He/ She explained that this whole initiative is pro bono work by Moneyowl and Poems, and they are in for the long haul. Make what you want of it.

https://www.reddit.com/r/singaporefi/s/MMJu17Bhv8

But in for long haul does not mean Poems will not charge management / platform fees forever.

 

[hwmook]

But in for long haul does not mean Poems will not charge management / platform fees forever.

But they have not been charging platform fees for decades, not just now.

 

[limster]

But they have not been charging platform fees for decades, not just now.

true... even when FSMOne claimed they had no choice but to charge platform fees because of increased costs, Poems was still able to maintain 0 platform fees.

I suspect Poems IT system is relatively simple and low cost compared to its competitors.

 

[hwmook]

true... even when FSMOne claimed they had no choice but to charge platform fees because of increased costs, Poems was still able to maintain 0 platform fees.

I suspect Poems IT system is relatively simple and low cost compared to its competitors.

There is another platform, dollardex.

 

[yslvlys]

There is another platform, dollardex.

I just logged in and search Dollardex. Seems like it doesn't have the same Amundi World and Emerging Market funds that Poems has. Any good funds in your view on Dollardex?

 

[dev_stg_prd]

Poems offering Amundi unit trusts

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

Amundi Index MSCI World A12S (C) SGD

• Expense Ratio = 0.1%
• https://www.poems.com.sg/fund-finder/amundi-index-msci-world-a12s-c-sgd-565001/

Amundi Index MSCI Emerging Markets A12S (C) SGD

• Expense Ratio = 0.2%
• https://www.poems.com.sg/fund-finder/amundi-index-msci-emerging-markets-a12s-c-sgd-565003/

Amundi Index Global Aggregate Bond A12HS (C) SGD

• Expense Ratio = 0.1%
• https://www.poems.com.sg/fund-finder/amundi-index-global-aggregate-bond-a12hs-c-sgd-565002/

Other details

• Pay by Cash, CPFOA and SRS
• Min Invest = $1
• Subsequent Invest = $1
• Min RSP = $100
• Sales Charge = 0%

Is this real for retail investors or another DollarDex saga?

Edited: Is real. https://www.moneyowl.com.sg/owlinvest/

got Amundi US?

 

[Leaden]

Seems like it's really some kind of public service by MoneyOwl, in essence Temasek Trust.

https://www.facebook.com/share/p/159z9BtuFk/

 

[marcoyeo]

got Amundi US?

Not at Poems.

 

[knight27]

I don't think Poems is more established than endowus. The Amundi funds, especially for cpf investing, was launched and initiated by endowus, and not any of these "established" traditional players.

I don't think it makes any commercial sense for Poems to offer these other than it being a loss leader. Would you want to invest in other revenue generating product for POEMS? I doubt most of the folks here will use poems for anything other than the amundi funds.


I have a dormant poems account and am procrastinating to shift because of the ugly interface and also the lack of commercial viability. Not proud of myself from a cost minimising perspective but I can live with it.

Why not by the CSOP sreit ETF product? Syfe is unique indeed, but for bad reasons imo. Not a professional fund manager but managing it like a fund, holding too much cash, no fund annual report and the oversight with it.... I will gladly pay more for CSOP sreit in terms of cost and minor inconvenience than use syfe sreit.

is'nt poems charge 15$ every quarter if no trading?

 

[marcoyeo]

is'nt poems charge 15$ every quarter if no trading?

Where did you find this charges?

 

[knight27]

Where did you find this charges?

https://www.poems.com.sg/pricing/

1 waiver scroll down

 

[TerryPower]

is'nt poems charge 15$ every quarter if no trading?

https://www.poems.com.sg/pricing/

1 waiver scroll down

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

 

[TerryPower]

got Amundi US?

don't have

 

[knight27]

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

oh... means
1 waiver: if i have SGX shares under them there will be chargers every quarter.
2 waiver: if i have US or HK shares under them there might be chargers. but now as of now there is nil.

i am right?

 

[JustDoLor]

The $15 fees is only applicable to the Cash Plus Account, and it is for maintaining the broker/custodian account for SGX securities. I am not sure if they still charge you even if your custodian account is empty. I think it will be better to check with Poems directly.

To avoid any doubt just open the Cash Management Account where there is no such charge. But this account required you to have a CDP account number.

is'nt poems charge 15$ every quarter if no trading?

 

[CaptainWu]

The $15 fees is only applicable to the Cash Plus Account, and it is for maintaining the broker/custodian account for SGX securities. I am not sure if they still charge you even if your custodian account is empty. I think it will be better to check with Poems directly.

To avoid any doubt just open the Cash Management Account where there is no such charge. But this account required you to have a CDP account number.

I have opened new CashPlus for many months and just for UT and SRS investment, no custodian charges at all.

 

[Guojing88]

Seems like it's really some kind of public service by MoneyOwl, in essence Temasek Trust.

https://www.facebook.com/share/p/159z9BtuFk/

Nice, I am wondering how much Temasek Trust have to pay Poems so that the latter can provide them without charging any additional fees.

 

[hwmook]

I just logged in and search Dollardex. Seems like it doesn't have the same Amundi World and Emerging Market funds that Poems has. Any good funds in your view on Dollardex?

Yes, doesn't have the same funds from Amundi. Just sharing that there are another platform which doesn't charge platform fees nor sales charge like POEMS.