Disclaimer

How we calculate representative historical performance of a fund (unit trust)

Endowus aims to provide the historical performance of the best proxy to a fund prior to the inception of the fund so as to capture a sufficiently long period to illustrate the past market cycles such as the 2008 Global Financial Crisis. The challenge Endowus encounters is that one fund may have several share classes with different inception dates, different fees, and different denomination currencies and even for the earliest share class it may not date back to the period that we aim to provide.

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Endowus provides the representative cumulative historical performance in a table, including the yearly returns since the earliest available performance data, YTD, 1M, 6M, 3Y, 6Y and 10Y returns, and in a chart, which shows growth of capital using monthly performance data. The annualized 1Y, 3Y, 5Y, 10Y return is also presented. The performance data is computed on single pricing basis.

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Therefore, Endowus’ best effort to closely match performance results for longer historical periods, is via using the following hierarchy of monthly returns data, moving down the list only when the higher priority data does not exist:

  1. Subscription share-class (the exact fund you are buying)
  2. Oldest share-class of the same fund vehicle, adjusted for currency and fund-level fees
  3. Oldest share-class of a different fund vehicle with a similar underlying fund strategy, where appropriate, adjusted for currency and fees.
  4. Prospectus benchmark, adjusted for currency and fund-level fees. Prospectus benchmark is the benchmark that the fund manager assigns to the fund and is usually aligned with the investment strategy of the fund.
  5. Alternative benchmark, adjusted for currency and fund-level fees. If the prospectus benchmark assigned by the fund manager is deemed unsuitable, we will assign an alternative benchmark that is broadly aligned with the investment strategy of the fund if possible. The alternative benchmark may be a single index or a blend of indices.
  6. Asset class benchmark, adjusted for currency and fund-level fees. If an alternative benchmark is required but cannot be identified, we will use an asset class benchmark that best illustrates the unit trust’s asset class exposure. The asset class benchmark may be a single index or a blend of indices.

In certain cases, Endowus’ Investment Office may choose to include multiple sources of monthly returns data according to the hierarchy set out above to illustrate the theoretical representative historical performance of the fund. Again, we reiterate that whilst we make every effort to provide clients with full transparency and use accurate and timely information, representative historical performance has its limitations and should not be relied upon on its own for financial decision making. Any investment views and investment products/services should be reviewed against a person’s investment experience, objectives, financial resources and personal circumstances. Further, although the data is taken from sources deemed reliable, we make no guarantee as to its accuracy, completeness or reliability.

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How we calculate representative historical performance of a portfolio of funds

Representative historical performance of a portfolio of funds is calculated in the following steps:

  1. Combines the fund returns in their appropriate weight from their earliest common start date
  2. Runs the returns of the portfolio and includes threshold-breach based rebalancing if and when the portfolio would have materially drifted from the specified target asset allocation.

Read more about rebalancing

While we believe this methodology results in a performance data that is most similar to the portfolio prior to its existence, it is not, and cannot be, completely precise.

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Fees treatment

Portfolio performance includes fund-level fees and does not include Endowus Fee, which range from 0.05% to 0.60% per annum depending on investment objective, source of investment (CPF, SRS or Cash) and client assets under advice (“AUA”).

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Data source

Endowus licenses the use of data from Intermediaries, including, in part, from Morningstar, a third-party provider of stock market data. Endowus makes no guarantee, representation or warranty and accepts no responsibility for the accuracy and/or completeness of the information. Where data is cited from Morningstar, the following disclosures apply: ©2021 The information, data, analyses and opinions (“Information”) contained herein: (1) include the proprietary information of Morningstar and its content providers; (2) may not be copied or redistributed except as specifically authorised; (3) do not constitute investment advice; (4) are provided solely for informational purposes; (5) are not warranted to be complete, accurate or timely; and (6) may be drawn from fund data published on various dates. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and don’t make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

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Satellite
Endowus Satellite

Gain exposure to select market opportunities.

Take advantage of optimised, best-in-class portfolios designed by Endowus to target your favorite regions, themes, asset classes, and trends.

Real Assets

100% Equities / Cash
Invest in real estate, infrastructure, natural resources, and commodities to generate real returns by mitigating inflation risk.

Technology

100% equities / cash
Gain exposure to the world's most technologically innovative companies.

China Equities

100% Equities / Cash
Capture China's high growth potential by investing in its best companies listed onshore and offshore.

Megatrends

100% equities / Cash
Get ahead of economic shifts and invest in future-driven themes like healthcare, clean energy, and AI.

Real Assets

100% Equities / Cash
Invest in real estate, infrastructure, natural resources, and commodities to generate real returns by mitigating inflation risk.

Technology

100% equities / cash
Gain exposure to the world's most technologically innovative companies.

China Equities

100% Equities / Cash
Capture China's high growth potential by investing in its best companies listed onshore and offshore.

Megatrends

100% equities / Cash
Get ahead of economic shifts and invest in future-driven themes like healthcare, clean energy, and AI.
How we do it better

We do the work so you don't have to

Best opportunities

The industry’s most promising ideas and investment themes

Easy to use

Click-and-go investing using our pre-built portfolios

Expert advice

No fuss. We seek out the best funds at lowest cost so you don't have to.

Introducing Endowus Satellite Portfolios

Gain exposure to select market opportunities by taking advantage of optimised, best-in-class portfolios designed by Endowus to target specific regions, themes, asset classes, and trends.

Read article on Core-Satellite strategy

Portfolio performance, underlying funds & securities
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Low, fair fees

all-in-access fee (P.a.)
0.25-0.6%
We charge less than half the industry average
sales fees
0%
Zero extra charges, always
trailer fee rebates
100%
We rebate it all back to you
learn more about fees

Want to
know more?

What is the difference between Endowus Core Portfolios and Endowus Satellite Portfolios?

For most investors, the Endowus Core portfolios (Flagship and ESG) are designed to be efficient broad market investment portfolios for general wealth accumulation needs. Built on the back of empirical data and academic research, the Core portfolios are suitable as the backbone of an investor’s overall investment strategy.


The Satellite portfolios are designed to provide additional best-in-class exposure to specific assets, regions, sectors or themes. These are suitable for investors seeking to complement their existing broad market investments with a further focused allocation to express individual views on long-term growth opportunities.

What is a Core-Satellite investment strategy?

A Core-Satellite investment strategy is where an investor splits his capital allocation between a portfolio that serves as a foundation for his general wealth accumulation goals, and a conviction-based portfolio that is more focused and riskier. Usually, investors considering this strategy would use a broad market exposure portfolio such as our Flagship or ESG portfolios as this is designed to give the highest probability of success, for their Core allocation. This can then be supplemented by our Satellite portfolios that are more narrowly focused on specific assets, regions, sectors or themes.

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Investing in a thematic or sector focused Satellite portfolio on its own could potentially be riskier as it is less diversified. However, when used as a supplement to a Core portfolio, the overall risk to their wealth accumulation goals can be balanced out while also providing the investor with the exposure to the asset, region, sector or theme that can potentially generate larger returns over the long-term from the secular trends or growth opportunities.

How do I start investing in the Satellite Portfolios?

1) Simply create your Endowus account,

2) Select to onboard with Myinfo (recommended) or manually

3) Select "Pick an advised portfolio”, then select “Satellite”

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Existing clients of Endowus: 
1) Simply log in to your Endowus account,

2) Click "Add goal"

3) Select "Pick an advised portfolio”, then select “Satellite”  

What are the Access Fees for investing in Satellite Portfolios?

Endowus includes investment advice, portfolio creation and rebalancing, brokerage, and transfers. Endowus has no sales fees, and rebates 100% of trailer fee to clients. Click here to see more details on Endowus Fees

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Cash

0.60%   S$200,000 and below
0.50%   S$200,001 to S$1,000,000
0.35%   S$1,000,001 to S$5,000,000
0.25%   S$5,000,001 and above

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Access Fees are charged on a quarterly basis based on your daily average total assets under advice (AUA) for the period of the fee.

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Note that Fund-Level Fees (Fund’s Total Expense Ratio) are charged by the fund manager out of the underlying fund Net Asset Value (NAV).

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