Selling my Robo Portfolio after 4 months? Here’s why! Endowus Robo Advisor Update Apr 2022

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Endowus has been a great Robo advisor platform for my past few months of experience.
I highlighted the strong points of Endowus like easy to use, able to use CPF OA and SRS and low fees that make them my top selection.
And up to the day of recording I have already gained more than 7% since Dec 2022.
But why am I selling my Endowus portfolio today? Here’s why!

How much did I make from Robo Advisor 2 Months Later? Endowus Review & Walkthrough Analysis!

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00:00 Introduction

00:47 – My current situation
If you have seen my earlier video where I documented my Endowus journey and experience,
I was focusing on SRS investment as a form of tax relief.
And the Endowus General Wealth Accumulation portfolio actually did perform quite well with its Dimensional Equity Funds like Global Core equity fund and Emerging Markets equity fund.
In fact, it returned 9% since Dec 2022 in a span of 4 months which is pretty impressive for a passive investment.
So I wanted to start investing in the same portfolio using my CPF OA that is above $20,000, which is the next part of the story

01:30 – Investing CPF OA
To invest with CPF OA, you need to have a CPF Investment account which I opened with UOB via Endowus.
At that point in time I had $20,213 in my CPF OA, so only $213 which is above the $20,000 limit is available for investing.
So I went to my Endowus App, click make an investment with my CPF OA and just keyed in $213 which is the max I could utilise, BIG MISTAKE!
If you read about CPF investing, it actually charges $2.14 (w/ GST) per trade and this is additional on top of your investment, not deducted from your contribution.
That means, I would actually need $215.14 to make a $213 investment funded with CPF OA.
Hence there were insufficient funds for deduction deemed by CPF Board, then they deducted $5.35 from my CPF OA
Now, I’m left with $208 in my CPF OA available for investing, so I just lost $5 from a silly mistake.
Moving on, I did a $200 investment this time into Endowus General Wealth Accumulation, with the fee of $2.14, it adds up to $202.14 which I have enough OA to deduct from (Yes!)

02:57 – Underlying portfolio of CPF OA investment
I did select the same portfolio which is 100% Equities and risk tolerance 50%, same as my SRS investment, so I expected them to buy the same funds I.e. LionGlobal Infinity 500 and Dimensional Equity Funds.
But the truth is, they are not the same.
You can see in my portfolio here where there are no Dimensional Funds when I used the CPF OA portfolio compared to my SRS portfolio with the same risk.
Instead I am given other funds like LionGlobal Infinity Global Stock Fund, FSSA Dividend Advantage fund and Schroder Global emerging markets opportunities fund. Definitely not what I wanted.
There must be some reason that Endowus cannot buy Dimensional Funds with CPF OA.

03:56 – What I plan to do
I have an existing investment in 100% LionGlobal Infinity 500 which tracks the S&P 500 index, using SRS investment
Based on my CPF OA portfolio, it also has LionGlobal infinity 500, so I assume that this is eligible to invest via CPA OA.
I will sell my existing SRS portfolio with LionGlobal Infinity 500, and use the SRS money to invest fully in my general wealth accumulation portfolio with the Dimensional Funds and LionGlobal.
Then I will use Fund Smart 100% in LionGlobal Infinity 500, fully funded by my CPF OA since it is eligible.
This will help to streamline the number of portfolios I have and also remove those funds that I do not want to invest in.

04:55 – Closing thoughts
Reflecting on some mistakes that I have made during this Endowus journey
– Not having sufficient funds to invest in the CPF portfolio, resulting in small fine
– Assuming the portfolio is the same between CPF and SRS investments

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