FEE-ONLY financial advisory firm Endowus is launching its portfolio service for savings in the CPF Investment Scheme (CPFIS) where all-in fees are estimated to be significantly lower than the market.
Its entry into the CPFIS arena coincides with the award of the CPF Investment Administrator status to UOB Kay Hian, which has just become the fourth IA in the scheme. Endowus will be working with UOB Kay Hian for its CPFIS portfolios.
The effective cost of Endowus' portfolios for the CPFIS is estimated at 0.98 per cent for a balanced portfolio. This comprises an all-in wrap fee of 0.4 per cent, including UOB Kay Hian's admin charge. It also assumes a net fund annual management fee of 0.58 per cent...
Keyword added to your list