Anonymous
Should I open a CPF account with Endowus or DCA with cash using MoneyOwl?
I have read that Endowus offers investment using both Cash/SRS and CPF. However, the offered funds are a little different e.g. Dimensional World Equity Fund being available for the Cash/SRS investment option only.
As such, will I need a min. of SGD 20,000 to open an account for both CPF & Cash/SRS investment?
Or will it be more advisable to open a CPF account with Endowus (min. 10,000) and DCA with cash using Moneyowl instead since there is no min. sum? Will I be paying twice the fees?
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Sin Ting So
12 Nov 2019
Head Of Client Experience at Endowus
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Dear Anonymous,
Thank you for your question. Yes the funds available for CPF are different as we can only use funds that are on the CPF Investment Scheme (CPF-IS) included List of Unit Trusts. Dimensional World Equity Fund is not yet CPF-IS approved.
The minimum investment amount of SGD 10,000 is across the different accounts (cash, SRS, CPF). I.e you can invest SGD 5k in cash and SGD 5k in CPF. The fees are calculated separately for CPF/SRs and cash investments.
I personally think one of the most important functions of the Endowus platform is the ability to get a holistic view across your different goals and account types. For example, you can create a goal for your retirement, and use your cash, CPF and SRS funds to work towards the goal. You can view the rolled-up performance of all 3 account types, and have a holistic view of how much progress you have made towards reaching the goal.