Fund-level Fee
The fund-level fee (or Total Expense Ratio) is paid to the Fund Managers. This is already accounted for in the NAV of the Fund. Endowus clients will get 100% Cashback from the trailer fee component of the fund-level fee, where this is charged.
The Endowus Fee
The Endowus Fee is paid to Endowus for all relevant advisory and investment services, product and platform access. Fees differ based on portfolio type and funding source (Cash/CPF-OA/SRS). The Endowus Fee p.a. is based on Assets under Advice (AUA).
For Cash investments
Endowus will calculate which Endowus Fee tier you are eligible for by aggregating the investment value of all Cash investment portfolios (i.e. Endowus Core/ Income/ Satellite and Fund Smart Portfolios) within your Endowus account. This excludes your Cash Smart, other cash management portfolios, and alternative investment portfolios.
Endowus Fees are first deducted from your Endowus Fee Credits, then from your Uninvested Cash Balance, and lastly by redeeming units of your portfolio.
For Cash Investments in Foreign Currencies, the investment value of your portfolio will be translated into SGD using the daily board rate to determine the tier you are eligible for. Endowus Fees will first be deducted from your Uninvested Cash Balance of the corresponding foreign currency, then from the redemption of units of your portfolio.
For CPF-OA and SRS investments
Endowus Fees are first deducted from your Endowus Fee Credits, then from the redemption of units of your portfolio.
- For CPF-OA investments, please note that your CPF Investment Agent Bank (DBS, UOB, OCBC) also levies the Agent Bank charges. You may refer here for more information.
- For SRS investments, no charges are levied by your SRS Agent Bank.
For Cash Investments in Foreign Currencies
The investment value of your portfolio will be translated into SGD using the daily board rate to determine the tier you are eligible for. Endowus Fees will first be deducted from your Uninvested Cash Balance of the corresponding foreign currency, then from the redemption of units of your portfolio.
Kindly note that there are specific investments whereby we are unable to deduct Fees via the redemption of units, for these reasons:
- The fund is a private markets or hedge fund, which is illiquid in nature;
- The fund has unique redemption restrictions (eg. UOBAM United Fixed Maturity Bond Fund 3), and/or
- The fund's NAV is too large relative to the Fee amount for a redemption of units.
With effect from 3 June 2025, if there is insufficient cash balance for these foreign currency investments, we will automatically convert your SGD to the respective foreign currency to cover the outstanding Fee.
- This process will begin the day after the fee charge date.
- The system will check on a daily basis if there is sufficient cash across both SGD and the respective foreign currency.
- If so, we will automatically convert* the required amount of SGD to the respective foreign currency at HSBC’s prevailing exchange rate before collecting the full Fee amount. *Please note that Endowus does not earn any spread on this currency conversion.
If you prefer not to use your SGD cash balance to cover the Fee, please ensure that there are sufficient funds in your respective foreign currency cash balances to cover the Fee.
GST
After determining your Endowus Fee for the quarter based on the assets under advice that you hold, the Endowus Fee will be subject to a 9% GST charge.
Please note that Private Markets and Hedge Funds investments are subject to a different fee table. You may find it here.