This Endowus review gives the main numbers up front. As at November 2026, Endowus charges 0.60% a year on cash invested in its advised portfolios below S$200,000, and a flat 0.40% a year on CPF and SRS money. Fund-level fees of 0.05% to 1% a year are on top. Endowus Singapore Pte. Ltd. holds a Capital Markets Services licence from MAS.
Investing can lose money. Funds rise and fall with the markets they hold, and you may get back less than you invested. That applies to CPF and SRS money as much as to cash. This is an explanation of the platform, not a recommendation.
What Endowus Is
Endowus is a Singapore fund platform that also builds portfolios for you. It is usually grouped with Syfe and StashAway as one of the three most promoted robo-advisers here.
The difference is what it holds. Endowus invests in unit trusts (collective investment schemes), not directly in ETFs or shares. It offers:
- Advised portfolios, which it calls Flagship, Income and ESG.
- Fund Smart, where you choose your own funds.
- Cash Smart, built from money market and short-duration funds.
- Private market and hedge funds for accredited investors.
It is also often mentioned as a way to invest CPF savings online.
MAS Licence and How Your Assets Are Held
The MAS Financial Institutions Directory lists Endowus Singapore Pte. Ltd. as a Capital Markets Services licensee for fund management and dealing in collective investment schemes. It is also an exempt financial adviser for advising on those schemes.
Endowus’ pricing page says cash and trailer fee rebates for cash accounts sit in your trust account at UOB Kay Hian. For CPF and SRS investments, money moves through your CPF Investment Account or SRS account with your agent bank, and rebates are paid back there.
Funds are not SDIC-insured. That includes Cash Smart. Money market funds aim for stability, but they are investments, not deposits.
Endowus Review of Fees (as at November 2026)
All figures are from Endowus’ pricing page. It calls its charge the “access fee”. The fee is charged quarterly on your average daily balance.
| What you invest | Product | Endowus fee a year |
|---|---|---|
| Cash, below S$200,000 | Advised portfolios (Flagship, Income, ESG) | 0.60% |
| Cash, S$200,000 to under S$1 million | Advised portfolios | 0.50% |
| Cash, S$5 million and above | Advised portfolios and Fund Smart | 0.25% |
| Cash | Fund Smart, single fund | 0.30%, or your tier rate if lower |
| Cash or SRS | Cash Smart and money market funds | 0.15% |
| CPF OA, CPF SA or SRS | Advised portfolios, or Fund Smart with two or more funds | 0.40% flat |
| CPF OA, CPF SA or SRS | Fund Smart, single fund | 0.30% flat |
Other points from the same page:
- Sales charge: 0%. No transaction fees.
- Trailer fees: 100% returned to you.
- Fund-level fees: 0.05% to 1% a year, taken by the fund manager from the fund’s value.
- Tiering: cash balances across your goals are added together. CPF and SRS balances are priced separately and do not count towards cash tiers.
- Transfers out: a fee may apply if you transfer funds out within six months of transferring them in. The amount is not stated on the page.
- Lock-ups: none.
For cash between S$1 million and S$5 million, the pricing page showed two different rates when we checked (0.35% in one table and 0.30% in another). We have left that tier out. We also could not confirm the minimum investment amounts or whether GST is added to the access fee. Check these with Endowus.
The short version: Endowus is the simplest route we found for putting CPF or SRS money into funds, at a flat 0.40%. You pay that fee plus fund costs every year, and CPF money has to beat the interest it would have earned untouched.
What a Year Costs: A Worked Example
These examples show fees only. They assume no market movement and leave out fund-level fees.
Cash. You invest S$2,000 a month into an advised portfolio for a year. Your average balance is about S$13,000, so the 0.60% fee is roughly S$78. In year two, with S$24,000 invested and no additions, it is S$144.
CPF or SRS. The same pattern at 0.40% costs about S$52 in the first year and S$96 in the second.
Adding fund costs. Suppose the funds in the portfolio charge 0.40% a year. That figure is our assumption, inside the 0.05% to 1% range Endowus gives. On S$24,000, fund costs are S$96 a year. Your total yearly cost would be S$240 for cash (1.00%) or S$192 for CPF or SRS (0.80%).
The CPF hurdle. CPF Ordinary Account savings earn 2.5% a year if left alone. An investment costing 0.80% a year must return more than 3.3% before fees just to match that. In a bad year it will return less, possibly much less. Our CPF OA vs invest calculator lets you test different assumptions.
Funding, CPF and SRS
Cash is funded by bank transfer in Singapore dollars.
For CPF, CPF Board’s rules apply. You need a CPF Investment Account with an agent bank for Ordinary Account money, and you can invest only savings above the first S$20,000 in your Ordinary Account and the first S$40,000 in your Special Account. Not every fund is approved for CPF. Our CPF Investment Scheme explainer has the detail.
For SRS, you need an SRS account with an operator bank first. See our SRS guide.
With CPF and SRS, Endowus collects its fee by selling a small part of your holdings.
Drawbacks and Alternatives
- Two layers of cost. The access fee plus fund fees can reach 1% a year or more. That is a meaningful share of long-run returns.
- Funds only. No shares, no exchange-traded ETFs. If you want those, you need a broker as well.
- CPF risk is real. Moving guaranteed-interest CPF savings into funds swaps a known 2.5% for an unknown result.
- No discount for small cash balances. The rate stays at 0.60% until S$200,000.
Who Endowus does not suit
It does not suit investors who want to buy individual shares or trade ETFs, or people who are happy to manage a small number of low-cost ETFs through a broker and pay no yearly platform fee. It is also a poor fit for money you need within a few years, which belongs in something steadier such as the options in our T-bills, Savings Bonds and fixed deposits comparison.
Alternatives to compare
- Syfe: 0.65% below S$50,000 and 0.55% above, with SRS portfolios but no CPF.
- StashAway: a sliding scale from 0.8% down to 0.2%, with SRS but no CPF option that we found.
- POEMS: lists unit trusts with no sales charge or platform fee, for people who choose their own funds.
Compare all three robo-advisers in our robo-adviser comparison, or start with the best investment platforms in Singapore.
What To Do Next
- Check Endowus in the MAS Financial Institutions Directory.
- Find the fund-level fee of each fund in a portfolio and add it to the access fee.
- Before using CPF, complete CPF Board’s Self-Awareness Questionnaire and read its CPFIS pages.
