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Is my money safe with Syfe Wealth?

• Is Syfe regulated by MAS?

  Syfe is regulated by the Monetary Authority of Singapore (MAS). We are licensed under the Capital Markets Services ("CMS") License (CMS License No: CMS100837) for retail fund management after meeting all stringent standards set by MAS for financial and investment services companies.

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• How secure are my funds when I invest with Syfe?

  Your monies and assets in your investment portfolios are held in a custodian account through Saxo Capital Markets, a MAS-regulated global broker. Your assets are held with Saxo, whose sub-custodians are Citibank for securities and HSBC for any uninvested cash. This means that your money and assets remain safe even if Syfe or Saxo stops operating because they are held separately from Syfe or Saxo’s assets.

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• What happens if Syfe gets acquired or stops operating?

  At Syfe, the security of our clients' money is of utmost importance to us, and we have stringent measures in place to prevent an event like a closure from happening.

  Syfe is licensed by the Monetary Authority of Singapore (MAS), and we hold a Capital Markets Services (CMS) License for retail fund management. As a CMS license holder, we have met all the requirements and standards set by MAS to prevent a bankruptcy event from happening. This includes meeting the minimum capital requirement, as well as audits and compliance to ensure that Syfe has sufficient daily cash flow to meet all operational needs.

  Funds in your Syfe investment portfolios are held in a Trust Account in DBS Bank while your investments are kept in a Custodian Account through Saxo Capital Markets. These are held separately from Syfe’s assets. This means that Syfe will never be able to use your funds and assets, even in the very unlikely event that Syfe stops operating.

  In that unlikely scenario, we will work together with Saxo Capital Markets under the supervision of MAS to ensure the orderly transfer of assets to another licensed fund manager, or the return of all assets and funds to our customers. Customers will be able to choose their preferred means.

  All customers are also free to withdraw their money any time they wish. Syfe does not impose any exit penalties or lock-in periods, so clients are genuinely able to access their money any time.

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• Does Syfe has any Professional Indemnity Insurance (PII) coverage?

  Yes. Syfe is regulated by the MAS and complies with requirements to maintain adequate PII coverage as required under the CMS license requirement.

   

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• Is Syfe audited?

  Yes, on a regular basis by one of the big-four auditing firms.

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