ETF management fees (for ETF portfolios)
The ETF management fee across our Core portfolios averages 0.15 - 0.24%. ETF fees for Select portfolios may vary. For an ETF management fee of 0.15%, this amounts to around $1.50 per $1,000 invested each year. The fee is charged by the ETF manager and built in to the prices of the ETFs that we buy on your behalf.
Since it is not charged by Syfe, you will not see the ETF management fee deducted directly from your Syfe account.
Currency conversion
There is a 0.09% - 0.12% fee for currency conversion charged by our broker on the amount converted. This is applicable on SGD transfers made to Syfe portfolios where we need to buy or sell US dollars to trade US securities in your account.
To understand more about currency conversion and your portfolio, please find out more here.
SEC charges
The US Securities and Exchange Commission (SEC) charges a very small fee of 0.0008% on sell trades. This fee applies to portfolios other than REIT+. Cash+ Flexi and Cash+ Guaranteed for sell transactions only.
SGX clearing and trading access fees (For REIT portfolios)
The Singapore Exchange (SGX) charges clearing and trading access fees for trades executed on the SGX. These fees apply to our REIT+ portfolio only. SGX clearing fees are 0.0325% of the contract value and SGX trading access fees are 0.0075% of the contract value.
GST
Syfe has been a GST-registered entity since March 2022, and to-date, we have been absorbing the GST applicable to the services we provide to you. From 1 June 2023, Syfe will begin charging GST on Annual Management Fees.
GST is charged on your Annual management fee for all managed portfolios and is subjected to prevailing GST, where applicable, from 1 June 2023.
Income+ fund-level fees
Refer to the unified management fees of the constituent funds which are charged by the fund manager, in this case PIMCO.
Income+ net fund-level fees
Net Fund Level Fees of the portfolio is the weighted average of the net unified management fees of the constituent funds after accounting for rebates. For institutional share class funds, the gross and net fund level fees are the same. For retail/admin share classes, the net fund level fees are calculated by subtracting the unified management fees of the constituent funds with applicable trailer fee rebates which Syfe wholly passes on to its clients.
Trailer fee rebate
Trailer Fee Rebate is a fee that a fund manager pays intermediaries. The rebate is usually applicable when the fund’s share class is retail. Currently, Syfe passes on to clients any trailer fee rebates it receives for any of the constituent funds of Income+ portfolios.
