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 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 multi-fund Cash investment portfolios (i.e. Endowus Core/ Income/ Satellite and Multi-Fund Fund Smart Portfolios) within your Endowus account. This excludes your Cash Smart, other cash management portfolios and Single-Fund Fund Smart portfolio.
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 by redeeming 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 - refer here for more information.
For SRS investments, there are no charges levied by your SRS Agent Bank.
For CPF-OA Investments and SRS Investments, Endowus Fees are first deducted from your Endowus Fee Credits, then by redeeming units of your portfolio.