How is it that only Endowus can work with CPF, but Stashaway and Syfe can't?

Hi Boon Tat,

I really cannot answer for my competitors. What I can say is that CPF has very stringent criteria in allowing funds and platforms to access CPF monies, given the poor performance of CPFIS in the past. As a result of the poor performance, many members have given up investing.

CPF has been trying to reduce the management fees and sales charges for CPFIS, so I suspect that any new entrants have to conform with the new very low cost requirements set out by CPF (0.4% p.a. charges with no sales charges).
Also, Endowus is the first to do trailer fees rebates (up to 0.5% p.a.) that is normally paid to distributors and advisors. That makes us even more cost competitive and also further aligns our interest to our customers, and gives customers a better chance of success with lower fees.

Hi Boon Tat, I'm not a representative of Endowus but here are my opinions.

CPF has very strict rules/guidelines on what products can be invested using CPF monies, especially to safeguard the interest of its members, which is why there are also limited options on the funds that one can invest in with CPF-OA (even more restricted for CPF-SA).

My take is that Endowus have probably went through many hoops to earn CPF's trust in allowing CPF-OA funds to be invested in specific products deemed appropriate. One major factor which differentiates Endowus from the others would be the 100% rebate of trailer fees back to investors, so as to reduce the costs that would be passed on the them. This safeguards the concern of members having to pay high commission fees in order to invest their CPF funds.

Would also be interested to hear from Endowus about their take on this :)​​​