I recently did a partial switch to the new 80-20 portfolio. Why is the new portfolio underperforming the previous one, at least in the past month? More time required to see normalized returns?

As John mentioned as well below, investment is for the long-term. Returns over the short run can be influenced by many markets & macro factors. It will also depend on the allocation that you have selected. We also have a different portfolio for Cash/SRS and a different portfolio for CPF investing. I am surprised to hear that as I believe our new portfolios have generally done better than our previous ones, but it really would also depend on from when you invested and for how long. Whether you did lump sum or dollar cost average would also affect returns. Please reach out to [email protected] or reach out to your MAS-licensed representatives and our customer team would be happy to review your account and provide more context and colour on the performance numbers. Thank you for your trust and support!

A few days or months can't show you the returns. Investment is a long term thing and span across years.