Frequently asked questions

• How do I safeguard myself from scammers and phishers?

  With the growth of online payments and apps, how can you better protect yourself against phishing scams and other fraudulent activities?

  Here are some tips to safeguard yourself online.

  • Take care when accessing links and attachments sent through emails / SMS / websites you may not be familiar with. Such links and attachments may direct you to phishing pages or install malware on your device without your permission
  • Don't reply or click on any links within unsolicited emails / SMSes
  • Don't disclose your credit card details or OTPs to unknown websites or sources
  • If you receive an odd or suspicious message, always verify the authenticity of that message with the official websites or channels
  • Remember: Syfe will never ask you for your OTP or Syfe login password through SMS / Whatsapp / emails / phone calls
  • Avoid entering your Syfe password or OTP in non-Syfe URLs or apps
  • Always make sure you are on Syfe's official website or Syfe's official mobile application
  • Always go to our website by typing www.syfe.com to ensure you are reaching our official website
  • Don't accept any unauthorised requests or provide OTP approvals coming to your Syfe account  unless you initiated the request yourself
  • Always ensure that you are communicating directly with official Syfe accounts
  • Verify that the sender's email address is support.sg@syfe.com
  • When communicating with us through social media, ensure that you are on our official Facebook page or official Instagram account

  • If you suspect you're a victim of a phishing scam or fraud, contact us immediately

   

   

• Change of Wealth Partnering Bank to HSBC

  What’s happening with Syfe’s banking partner?
  Syfe is delighted to share that we are transitioning our partnering bank from DBS to HSBC Singapore, to improve clients’ funding experience, reducing the confusion clients face when it comes to transferring funds to Syfe. Syfe is excited to announce that we are transitioning our partnering bank from DBS to HSBC Singapore. This move involves shifting cash assets, a process set to take place from December 2023 to be completed by the end of January 2024.
  Clients are not required to take any actions. We will manage the transition seamlessly.
  
  What changes can clients expect?
  Clients may observe updated banking details for their respective funding methods on some portfolio’s funding page. Rest assured, these details are accurate, reflecting the new banking information for HSBC Singapore. Clients can proceed to transfer funds to the updated HSBC banking details.
  
  Can the old funding methods still be used?
  For ongoing transfers to DBS, there will be continued support. However, starting early 2024, Syfe will exclusively accept funding into HSBC. To prevent any delays and minimize inconvenience, it is essential to direct all funds to HSBC. We recommend reviewing and updating any standing instructions to align with HSBC’s new banking details. This proactive step will optimize our processes and enhance the efficiency of your transactions.

• Change of Wealth Partnering Bank to HSBC

  What's happening with Syfe's banking partner?

  Syfe is delighted to share that we are transitioning our partnering bank from DBS to HSBC Singapore, to improve clients' funding experience, reducing the confusion clients face when it comes to transferring funds to Syfe. This move involves shifting cash assets, a process set to take place from December 2023 to be completed by the end of January 2024.

  Clients are not required to take any actions. We will manage the transition seamlessly.

   

  What changes can clients expect?

  Clients may observe updated banking details for their respective funding methods on some portfolio's funding page. Rest assured, these details are accurate, reflecting the new banking information for HSBC Singapore. Clients can proceed to transfer funds to the updated HSBC banking details.

   

  Can the old funding methods still be used?

  For ongoing transfers to DBS, there will be continued support. However, starting early 2024, Syfe will exclusively accept funding into HSBC. To prevent any delays and minimize inconvenience, it is essential to direct all funds to HSBC. We recommend reviewing and updating any standing instructions to align with HSBC's new banking details. This proactive step will optimize our processes and enhance the efficiency of your transactions.

• How do Core portfolios work?

  Core portfolios hold equities, bonds and gold in varying allocations. We use exchange-traded funds (ETFs) to represent each asset class to ensure that each portfolio is broadly diversified across sectors and geographies.

  Our portfolio methodology for Core rests on three guiding principles:

  • Asset Class Risk Budgeting
  • Smart Beta
  • Stable asset allocation

  Please see more details of our portfolio construction methodology here.

  Clients can choose from four different Core portfolio types depending on their investment goals, time horizon and risk appetite:

  • Core Defensive
  • Core Balanced
  • Core Growth
  • Core Equity100
• How do I fund my Syfe portfolio(s)?

  You can do so in a few simple steps. For clarity please refer to the guide below:

  

   

  Funding methods (All portfolios except Cash+ Flexi USD)

  For one-time transfers from your bank account to your Syfe account. You may use PayNow or Internet Banking (FAST Transfer) to transfer funds in SGD.

  1. FAST (Fast and Secure Transfer)

     FAST is an electronic funds transfer service that lets you transfer SGD funds quickly to us. For funding via FAST, you may direct your funds to the following bank account:

     DBS Bank Account: 0720110196 (Bank branch code: 072)

     Name: Syfe Pte Ltd Clients AC

     Swift/BIC: DBSSSGSG or DBSSSGSGXXX (if using Citibank)
     
     There is a maximum limit of SGD200,000 per transaction. To take advantage of the limit, you will have to change your existing personal local transfer limit on internet banking before making the transfer.
     
     Please remember to include your Portfolio ID in the reference / comments field. You can view the Portfolio ID by logging in and clicking on your chosen portfolio. The ID will be at the bottom of the screen for mobile app users.

     A proof of transfer is required for all transfers from Citibank. Otherwise, funds received from Citibank will be invested in the latest portfolio you have created.
     
     

  2. PayNow

     PayNow is a funds transfer service for clients of nine participating banks in Singapore – Bank of China, Citibank, DBS/POSB, HSBC, Industrial and Commercial Bank of China Limited, Maybank, OCBC Bank, Standard Chartered Bank, and UOB.
     
     To transfer funds using PayNow via UEN, key in Syfe UEN number: 201834952HDBS.

     Complete the transfer by keying in the amount and entering your Portfolio ID in the reference / comments field. You can view the Portfolio ID by logging in and clicking on your chosen portfolio. The ID will be at the bottom of the screen for mobile app users.

     A proof of transfer is required for all transfers from Citibank. Otherwise, funds received from Citibank will be invested in the latest portfolio you have created.

     Alternatively, you may also scan the QR code below for PayNow.

     

  *Due to recent changes in the API at OCBC Bank, the reference code is no longer visible. To ensure a smooth transaction process and prevent any delays, we strongly recommend considering an alternative approach, such as transferring funds via the FAST Transfer service when making transfers from OCBC Bank.

  However, if you prefer to continue using PayNow, we kindly request the following actions:

  1. After initiating the transfer, please send us an email at support.sg@syfe.com.

  2. Attach a screenshot of the transfer transaction to the email.

  3. Share your portfolio reference code associated with your transaction in the email.

  Alternatively, you may also submit a deposit confirmation on the portfolio dashboard, along with a screenshot of the transfer transaction to ensure that your transaction is processed without any issues.

   

  Funding method for Cash+ Flexi USD

  1. FAST (Fast and Secure Transfer)

  Bank Name: HSBC Bank (Corporate) Account

  Account number: Refer to portfolio dashboard under Manage Funds > Add Funds > Recipient account number

  Swift/BIC: HSBCSGSG

  Please remember to include your Portfolio ID in the reference / comments field. You can view the Portfolio ID by logging in and clicking on your chosen portfolio. The ID will be at the bottom of the screen for mobile app users.

        2.  Paynow 

   UEN number: 201834952HATS

  Complete the transfer by adding your Portfolio ID in the transaction reference.

   

  Funding in USD or other currencies

  For amounts in USD, you may use wire transfer (Telegraphic Transfers), or online remittance platforms such as Wise and Revolut. After making a transfer via such online remittance platforms, please be reminded to submit a Deposit Confirmation in your Syfe account along with the PDF receipt of the transaction.

  To do a “Deposit Confirmation” after transferring the funds, you may follow the steps below.

  1. Select "Manage Funds" on the portfolio you wish to credit the funds to
  2. Select "Add Funds"
  3. On the Deposit Confirmation page, select the transfer type
  4. Select "I Have Transferred"
  5. Complete the transfer details and
  6. Submit a PDF receipt of the transaction

  Please note that PayNow transfers from third-party digital wallets (e.g. GrabPay, LifeSG, Singlife) may not be accepted or require further supporting documents which can delay the crediting of your funds.

  If you wish to set up recurring transfers to your Managed portfolios, there are two ways to do so. Click on the below links to learn more:

  • Setting up a recurring transfer from Cash+ Flexi portfolio to other portfolios
  • Setting up a recurring transfer from your bank account to your Syfe portfolios

   

• Why do I see 100% cash on my dashboard?

  After making a funds transfer, you may see your portfolio asset allocation reflected as "100% Cash" on your dashboard. This is perfectly normal. It simply means that your funds have been received and will be invested for you. You'll see your portfolio composition updated to reflect your investments the next working day around 2pm.

• How often are portfolios updated?

  Managed portfolios are updated twice a day.  We will first update your portfolio shortly after market close (around 7pm for the Singapore market and 4.30am for the US market) using third party market data to give you an indicative sense of your portfolio value.

  Around 2pm the next business day, we will again update your portfolio with data obtained from our broker. This afternoon update will give you your final portfolio value based on the previous market closing prices.

  Values from the indicative update and the final update should not differ by much. Please also note that while we provide the indicative portfolio value for Friday's market close on Saturday morning, the final update will take place on Monday afternoon around 2pm.

  Cash+ Flexi and Cash+ Guaranteed are updated once a day, around 2pm. There is no indicative update for Cash+ Flexi and Cash+ Guaranteed. 

  
  Why is the date on my portfolio value graph different from the last update timing on my portfolio?

  The portfolio value reflected on the graph is based on the last market closing prices obtained.

  For instance, "Last update: 2 Nov 2022, 14:00" reflects your portfolio value as of market close the previous day i.e. 1 November.

  This is why you will see your portfolio value as of 1 November reflected on your graph and current market value, although the last update is on 2 November. 

• How are Managed portfolios rebalanced?

  What is rebalancing?

  Rebalancing adjusts the asset composition of your portfolio and involves buying and selling assets to maintain the desired asset allocation according to the portfolio’s investment strategy.

  The following Managed and Cash Management portfolios are managed on a fully discretionary basis and the rebalancing details are as follows:

   

  REIT+ portfolios

  Syfe rebalances your 100% REITs portfolio in line with the iEdge S-REIT Leaders index twice a year in March and September.

  The REITs component of the REITs with Risk Management portfolio follows the rebalancing schedule of the iEdge S-REIT Leaders Index as well.

  Additionally, the REITs with Risk Management portfolio will be rebalanced as needed based on market circumstances to minimize fluctuations in your portfolio value. This delivers better risk-adjusted returns and greater peace of mind for customers.

  When volatility increases, the REITs with Risk Management portfolio is adjusted to take on less risk by holding a lower amount of REITs and a higher amount of bonds. When volatility subsides, we will increase again increase your REITs allocation to capture the market recovery. 

   

  Core portfolios

  Syfe rebalances your Core portfolios twice a year in accordance with our asset allocation risk budgeting strategy and optimized exposure to smart beta factors that maximizes the long-term risk-adjusted returns for the respective Core portfolios.

   

  Select Theme portfolios

  Syfe rebalances your Select Theme portfolios twice a year to achieve the most efficient portfolio allocation. 

   

  Select Custom portfolios 

  Syfe does not rebalance your Select Custom portfolios, even when the allocation between constituents has deviated from the initial targets due to market movements. You may edit the composition and allocation of your Custom portfolios at any time. Learn more about non-discretionary portfolios.

   

  Cash+ Flexi portfolio

  While there is no regular rebalancing of the Cash+ Flexi portfolio, it is periodically reviewed to achieve an optimal allocation. 

   

  Income+ portfolios

  There are two rebalancing methods for Income+ portfolios

  Portfolio optimisation recommendations based on forward looking views

  Income+ portfolios come with a special optimisation feature that allow clients to adjust their portfolio allocations with ongoing recommendations from Syfe. These recommendations will be informed by PIMCO’s forward looking views on the market based on credit spreads, yields, and economics forums to identify the most attractive investments. It will enable the portfolios to adapt to the changing market conditions and provide the best returns and income.

  Syfe will make these recommendations to clients on a semi-annual basis. Clients will have the choice to either accept the recommendation or not. Clients who accept the recommendations will have their portfolio allocations adjusted to the latest target asset allocation guidance by Syfe. Clients who do not accept the recommendations will continue with their current allocations. The recommendations, once accepted, are applied automatically to all Income+ portfolios that a consenting client has. 

  We encourage clients to follow the recommendations to adapt their portfolios to changing market conditions and keep their portfolio returns optimised.

  Automatic rebalancing to address price drifts

  Syfe automatically rebalances the portfolios on a periodic basis if the portfolios are out of alignment with their respective target asset allocation due to price drifts. This helps clients to stay aligned to the target asset allocation of their portfolios. Investing in the Income+ portfolios automatically opts you into this feature.

   

  Please note: When our algorithms adjust your Income+ portfolio(s) to rebalance or optimise the target asset allocation, there will be a delay in processing deposit or withdrawal requests. This happens because these adjustments, once started, need to be completed first before executing subsequent requests. This adds extra time to the usual settlement period, which could take up to 8-10 business days instead of the typical 4-5 business days.

  
  For more information on Income+ portfolios, refer to Income+ Invest Strategy

• How do Select Themes portfolios work?

  Select Themes is a way to apply thematic investing to your portfolio. Many investors want their portfolios to reflect their values and investment preferences. With thematic portfolios, you can do just that.

  Select Themes offers five different portfolio themes: ESG & Clean Energy, Disruptive Technology, Healthcare Innovation, China Growth, and Global Income. Each thematic portfolio enables you to invest in a carefully curated set of ETFs aligned to a specific theme. 

  The Select ESG & Clean Energy, Disruptive Technology, Healthcare Innovation, and China Growth thematic portfolios focus on megatrends that are poised to capitalise on long-term structural shifts such as disruptive technologies, sustainability, changing demographics, and China’s evolving economy. Meanwhile, the Global Income thematic portfolio is designed to offer income opportunities across investment-grade and high-yield bonds. Learn more here. 
  
  How are the investments within each thematic portfolio selected?

  Our starting universe of possible investments comprise over 100 carefully selected ETFs that are low-cost, highly liquid and track their benchmarks closely.

  Each ETF is then classified into broad themes and given a risk score between 1 to 5 based on its underlying asset class, geography and sector exposures.

  ETFs that best represent our theme and offer the best potential for risk-adjusted returns are then selected for possible inclusion to each Select Theme portfolios.

  Click here to learn more about our thematic portfolio strategy.

• How does Select Custom portfolio work?

  Select Custom is a platform that allows you to build your own portfolios from a curated list of over 100 best-in-class ETFs.

  This list of over 100 ETFs was pre-selected by our investment team according to our rigorous screening methodology. We only pick the best low-cost, highly liquid, index-tracking ETFs to ensure that you not only achieve your desired market exposure but also gain optimal risk-adjusted returns. Read more about our selection methodology here.

  The ETFs are managed by world-leading asset managers such as BlackRock, Invesco, State Street, Vanguard, and ARK.

  Once you have logged into your Syfe Portfolios account, you may view the full list by creating a Custom portfolio. 
  
  How many ETFs can I add in my portfolio?

  You may add up to 8 ETFs in your Select Custom portfolio.