Endowus Referral Code: QXVRR - Fees, CPF Investing & What to Know
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Endowus Review (Singapore): Investing Cash, CPF-OA & SRS in One Place
Endowus is Singapore’s fee-only wealth platform and the first digital advisor for all your money - Cash, CPF & SRS.
Endowus is regulated by the Monetary Authority of Singapore (MAS).
What makes it stand out is that it lets you invest cash, CPF-OA, and SRS through one platform.
Here is a video from their official YouTube channel explaining how the platform works:
Why Consider Endowus?
Access to institutional share class funds
Institutional share classes typically have lower total expense ratios than retail share classes. Lower fees can improve net returns over time, all else being equal.
These share classes are usually restricted to larger investors due to high minimum investment requirements. Endowus gives retail investors access to selected institutional share class funds.
CPF-OA and SRS investment support
Endowus allows eligible investors to invest using CPF-OA and SRS balances through a digital advisory platform.
Fee-only model with 100% trailer fee cashback
“At Endowus, we believe in transparency and alignment. That’s why we’re the first and only digital wealth advisor and fund platform to refuse all trailer fees and instead return them as 100% cashback to our clients.”
Endowus rebates 100% of trailer fees received from fund managers back to clients.
Instead, it charges an Endowus Fee based on your assets under advice (AUA), billed quarterly.
What are Trailer Fees?
Trailer fees are recurring commissions that fund managers pay distributors to sell their funds, which can create conflicts of interest.
Multi-currency investing
Endowus offers investment options in SGD, USD, EUR, AUD, GBP, and CHF.
Key Investment Options on Endowus
Low-cost passive index funds (Amundi)
Endowus offers Amundi passive index funds on its Fund Smart platform.
These funds are positioned as low-cost passive options for investors who want broad market exposure.
In March 2023, Endowus introduced CPF-eligible Amundi passive index funds such as the Amundi Prime USA Fund and the Amundi Index MSCI World Fund.
About Amundi
Amundi is one of the largest asset managers in Europe.
ESG (sustainable) portfolios
Endowus offers ESG portfolios for investors who prefer funds aligned with environmental, social, and governance considerations.
Shariah-compliant portfolios
Endowus offers Shariah-compliant portfolios.
Endowus Fees (What You Actually Pay)
CPF investing fees
For CPF investments, Endowus states the following fee structure:
- 0.40% p.a. for multi-fund portfolios
- 0.30% p.a. for single-fund portfolios
Other costs
- Fund-level fees: Charged by fund managers and embedded in fund NAV
- Agent bank fees: May apply for CPF investments through your CPF Investment Account bank
My Experience Using Endowus (Cash, CPF & SRS)
I had known about Endowus for some time, but the previous minimum investment of $10,000 was a barrier.
After the minimum was reduced, I opened an account.
A trust account was opened with UOB Kay Hian, Endowus’ partner custodian, to hold my assets.
What is the relationship between UOB Kay Hian and Endowus?
UOB Kay Hian acts as the custodian for Endowus accounts. Transactions are executed through the Endowus platform, while brokerage and custodial services are provided by UOB Kay Hian.
Your assets are held in a segregated account.
Cash funding
Funds transferred on Friday were credited by the following Monday.
CPF investing
I created a CPF portfolio via the Endowus app.
Since I already had a CPF Investment Account (CPF-IA) with OCBC, funds from my CPF Ordinary Account (CPF-OA) were deducted automatically on the next business day.
Redemption
No transaction fees or penalties
Redemption timing depends on the underlying fund and funding source, so it is best to treat timelines as indicative rather than guaranteed.
Recommended portfolio changes
Endowus periodically reviews portfolios and may suggest updates to improve cost efficiency or implementation.
Example (April 2023):
Endowus recommended upgrading the CPF portfolio using newer Amundi funds to lower costs and improve tracking.
The change reduced my expense ratio by about 27 basis points annually.
Acceptance of such recommendations is optional.
Is Endowus Worth It?
Worth considering if you:
- Want to invest cash, CPF-OA, and SRS through one platform
- Prefer a fee-only platform with transparent pricing
- Value access to institutional share class funds and trailer fee rebates
Less suitable if you:
- Prefer DIY investing directly in ETFs or stocks
- Want full control over security selection
- Do not want to pay an advisory or platform fee
Overall, Endowus is a strong option for investors who prioritise convenience, diversification, and access to CPF-OA and SRS investing within a managed portfolio structure.
Auntiehuat
Web Administrator
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