Investing in Syfe SRS portfolios

• Can I invest in SRS Core Equity100 or Income+ Portfolios if I do not meet the Customer Knowledge Assessment (CKA) criteria?

  Unfortunately, you cannot invest in Core Equity100 or Income+ portfolios if you have not met the Customer Knowledge Assessment (CKA) criteria.

  The Monetary Authority of Singapore (MAS) mandates that financial institutions assess the investment knowledge and experience of retail investors who wish to trade in Unlisted Specified Investment Products (SIPs). SIPs, including certain unit trusts, are typically considered more complex than other investment products. This requirement, known as the CKA (Customer Knowledge Assessment), is designed by MAS to safeguard your interests. It is strongly recommended that you complete your CKA requirement.

   

  CKA questions will be asked when you select a managed portfolio that has CKA requirements.

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• I have already invested my SRS funds with another platform. How can I move my funds from another platform to Syfe?

  In order for you to move funds from one platform to another, you need to first make a withdrawal on the platform which includes liquidating your holdings so that the cash can be transferred back to your SRS bank account. The time taken to complete the withdrawal is dependent on the platform, the investments you had made as well as your SRS bank account.

  Once the withdrawal is complete, you may invest your funds from your SRS bank account to Syfe SRS portfolios by following steps mentioned here.

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• What are the fees and charges on Syfe SRS portfolios?

  Syfe charges a management fee depending on your Syfe pricing tier. Kindly refer to this article to learn more.

  Fees applicable

  • Cash Management Portfolios, 0.05-0.15% per annum
  • Managed Portfolios, 0.25-0.65% per annum

  For SRS Portfolios, are there other fees apart from Syfe’s management fee?

  Yes, there maybe other fees applicable. You may wish to find out more here. 

  We strive to ensure SRS investing stays accessible and affordable, in fact, by consolidating your SRS investments into Syfe, you will be able to enjoy greater benefits.

   

  How are my fees debited for SRS portfolios?

  It will be same as the cash funded portfolios, fees are accrued daily based on your portfolio value (Net Asset Value) and reported within the app in the “FEES PAID” feature that can be found under the portfolio details page. At the end of the month, fees will be deducted and this will be reflected in the “TRANSACTION” feature.

  In your monthly statement, you will find fees disclosed at each portfolio in the first 2 pages, and total fees in last page.

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• How long does it take from creating an SRS portfolio to start investing?

  From the creation of an SRS portfolio to investing SRS funds, this is what you can expect :

  1. Created an SRS Portfolio : Once you’ve created an SRS portfolio until the instructions for debiting funds from your SRS bank account is provided, the status will show as "Waiting for funds."
     
     
     

  2. Provided SRS investment instructions : Once you have provided investment instructions, you will see the below status for your portfolio.
     

      

  3. Debiting SRS funds : We will typically process your debit instructions in the coming business day and the funds will be debited from your SRS bank account in the next 2-3 business days. If your SRS bank account verification fails or there isn't enough balance to process the debit instruction you provided, you will receive notifications via email and push notifications from Syfe. The status will also be updated on your Syfe app and website to the below. This is what you can do next :
     
     

     • Firstly verify the SRS bank account details provided is correct. If the account is incorrect, you may reach out to our CS via support.sg@syfe.com to update details.

     • Then verify your SRS bank account has sufficient funds. If not, simply top up your DBS/POSB, OCBC or UOB SRS bank account first, then log in to your Syfe account, click on "Add funds," and place a new instruction to debit SRS funds.

     • If you have verified that the bank account details are correct as well as the account has sufficient funds, you may reach out to our CS via support.sg@syfe.com and we can assist you further.
       
       

  4. Investing SRS funds : Once your SRS funds have been successfully debited, your portfolio value is updated and the investment orders are submitted to the fund house by the next business day. At this point, you will see the funds reflected in your portfolio, as shown.
     
     
     

  5. Investment Settlement : The investment settlement timeline depends on the type of portfolio:

     • Cash+ Flexi SRS: 3-4 days business days

     • Income+ Preserve and Income+ Enhance: 6-7 business days

     • Core Equity100: 7-8 business days
       

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• What are the portfolios that I can invest on Syfe with SRS?

  Syfe offers various investment options that can help you achieve significantly higher returns compared to the 0.05% annual yield from keeping your SRS funds in your SRS bank account.

  By investing in Cash+ Flexi SGD, Income+ Preserve, Income+ Enhance, or Core Equity100, your SRS funds have the potential to grow over 70 times more than if left uninvested in DBS/POSB, OCBC, or UOB accounts.

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• How can I start investing my SRS funds with Syfe?

  Investing your SRS funds with Syfe is quick and easy. You may follow the below steps :

  1. Open an SRS bank account with an SRS bank operator (DBS/POSB, OCBC, UOB). Once your SRS bank account is open, you may contribute into your DBS/POSB or OCBC or UOB account.
  2. Once your above SRS bank account is ready, log into your Syfe app or website to select the portfolio you would like to invest in. 
  3. Provide your SRS bank details and deposit instructions (refer to this link to know how to find your SRS bank details). Your SRS bank details will be saved upon this step. In case you need to update your SRS bank account details or personal particulars such as changes to your NRIC/FIN, please reach out to support.sg@syfe.com.
     
     
     
  4. Provide some additional personal details, employment & income details to continue onboarding to SRS portfolios.
     
     
     
  5. Once the details are submitted, we will work on your instruction to debit funds from your SRS bank account. After debiting, we will invest your funds into your chosen portfolio. Please visit here to understand more about the various stages of investment.

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