Poems offering Amundi UT

[limster]

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.

I helped a relative apply cash plus account a few days ago. 100% Online application. He is Singapore citizen. SMS confirmation sent the same day that account is ready for trading.

I presume you are Singapore citizen (though Singpass can be used by foreigners on EP as well) Did you apply for cash management account or cash plus?

 

[CaptainWu]

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

Oh! Didn't know about it and always got confused.

 

[RedsYWNA]

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

Is this true even for unit trusts that use synthetic replication?

 

[s0crates]

Is this true even for unit trusts that use synthetic replication?

Who's paying for the dividends if the fund is made of derivatives? Doesn't make sense right? Therefore no dividend withholding tax for them.

 

[limster]

https://www.etfstream.com/articles/more-synthetic-etf-competition-is-coming

Can read this for info.

 

[dev_stg_prd]

can SRS Amundi world ma?

 

[TerryPower]

can SRS Amundi world ma?

can. i placed some last year

 

[dev_stg_prd]

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

seems like Amundi US is up?
Anyone can confirm?

 

[TerryPower]

seems like Amundi US is up?
Anyone can confirm?

Yesh!!!!! It's on POEMS now.

I'll buy some later

 

[dev_stg_prd]

Yesh!!!!! It's on POEMS now.

I'll buy some later

I just placed order also to test test also

 

[steven168z]

Now Poems have

Amundi Prime USA AS (C) SGD
https://www.poems.com.sg/fund-finder/amundi-prime-usa-as-c-sgd-565004/

the first page need to add this

 

[marcoyeo]

Now Poems have

Amundi Prime USA AS (C) SGD
https://www.poems.com.sg/fund-finder/amundi-prime-usa-as-c-sgd-565004/

In time for those who wants to invest their OA funds... after SA closure.

 

[steven168z]

In time for those who wants to invest their OA funds... after SA closure.

indeed rather than other get them to buy rubbish funds

 

[limster]

I checked moneyowl which doesn't mention Amundi Prime USA.

Whatever agreement they have with Temasek Trust probably doesn't require them to offer Amundi Prime USA, but they are still offering it even though they don't earn anything from it.

If they just offered Amundi Index World investors would probably be happy already. Interesting they went further and offering Prime USA.

I won't be buying Prime USA because of the withholding tax issue on Lux funds. Index World is sort of ok because at least its not 100% USA.

UCITS ETFs on LSE have a much better tax advantage, including Amundi's own synthetic S&P500 ETF. Maybe its not so bad now because S&P yield has dropped to 1.2%, but long run S&P yield is closer to 2%, and WHT hits hard at those levels.

 

[Guojing88]

I won't be buying Prime USA because of the withholding tax issue on Lux funds. Index World is sort of ok because at least its not 100% USA.

Care to elaborate on how this will affect Prime's return but not Index world?

 

[steven168z]

I checked moneyowl which doesn't mention Amundi Prime USA.

Whatever agreement they have with Temasek Trust probably doesn't require them to offer Amundi Prime USA, but they are still offering it even though they don't earn anything from it.

If they just offered Amundi Index World investors would probably be happy already. Interesting they went further and offering Prime USA.

I won't be buying Prime USA because of the withholding tax issue on Lux funds. Index World is sort of ok because at least its not 100% USA.

UCITS ETFs on LSE have a much better tax advantage, including Amundi's own synthetic S&P500 ETF. Maybe its not so bad now because S&P yield has dropped to 1.2%, but long run S&P yield is closer to 2%, and WHT hits hard at those levels.

it is good for peole using CPF OA to buy using poems

Care to elaborate on how this will affect Prime's return but not Index world?

if one using CPF OA to buy Amundi Prime USA than Poems will be cheaper than Endowus as Endowus change 0.3% p.a. for Endowus Fund Smart fee whereas Poems charge 0

 

[s0crates]

Care to elaborate on how this will affect Prime's return but not Index world?

Simple. Not that I 100% agree with limster

For non US exposure, ucits funds/UT are as tax efficient as ucits ETFs.

For Us exposure, ucits funds/UT are taxed at 30% compared to 15% for ucits ETFs.

If you are truly smart, you will park as much non-US exposure with unit trusts (mainly for cpf and SRS investing), while holding most of your us exposure in ucits ETFs.

Of course I am talking about physically replicated fund/etf products.

I don't go to that extent cost optimising like above though. If you know more, you won't be too hard up about little bits of savings here and there.

 

[rerear]

Can the POEMS Amundi Prime US, also be bought with SRS? Assume it can, same as CPFOA?

edit: Answering myself, can; just read the link

 

[yslvlys]

Started DCA for Amundi USA.
We are talking about effectively a 0.3% p.a max (assuming yield of 2%, but likely lesser) difference in returns vs LSE ETF.
But note that buying ETFs will incur brokerage and forex fees, which is zero for Poems UT. So I think it balances out somewhat.
If you are buying larger amounts like a few thousands or more every transaction, it might be cheaper for ETFs. If only buying a few hundreds every week or month, then Poems unit trust is better. Even then we are talking about very small differences in costs and returns that I do not even bother to calculate.

 

[gnooliew]

it is good for peole using CPF OA to buy using poems




if one using CPF OA to buy Amundi Prime USA than Poems will be cheaper than Endowus as Endowus change 0.3% p.a. for Endowus Fund Smart fee whereas Poems charge 0

It's the same using cash or SRS right, not just OA? Coz the difference is the distributor/platform fee of 0.3% by endowus vs 0% by Poems (at least for now). I don't think there's any fee rebate by endowus also for this fund.