Correct me if I'm wrong but this feels like a ETF with total expense ratio being the annual fee depending on your tier, and effective sales fee of zero? Could their product be interpreted in this way?

Hi Lincoln, our 100% REITs portfolio is similar to an ETF, but much more cost effective. Just to clarify, you actually own units of the REITs we track in this portfolio, not REIT ETFs. The REITs included in the portfolio closely replicate the SGX's iEdge S-REIT 20 index.

There is no minimum investment amount, and no entry / exit fees. We have no brokerage charges as well. So you can invest regularly without incurring additional fees for transaction / brokerage costs.