IMPORTANT NOTE ON FUNDING:

To get to the funding instructions or top-up instructions after your Investment Account has been successfully set up, log in to your MoneyOwl Account >> “Investment” section >> this will bring you to “Your Investment” page >> click on “Portfolio Card” >> “under Tab” Pending Requests/Cash Account >> View Transfer Instructions.

In the funding instructions, there is a “Reference Code”. You MUST indicate the “Reference Code” in the “Remarks/ Descriptions/ Comments” of your fund transfer, even if the bank says it is optional, otherwise we cannot trace your transaction easily and there will be a delay.

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Getting Started

What is the minimum age at which I can start investing?
Anyone 18 years old and above can open an Investment Account.
What is the minimum amount required to start investing?
The minimum one-time investment amount is $100 and the minimum monthly investment amount is $50.
How can I start investing?
  1. Visit our “Investment page” or "WiseSaver page" to discover which portfolio is suitable for you.
  2. You will have to set up your MoneyOwl Account before setting up your Investment Account.
  3. Transfer monies into your Cash Account to start investing!
What is a Cash Account?
The Cash Account is an online cash management service by iFAST Financial Pte Ltd (Please refer to General Question on who iFAST Financial is) which facilitates online transactions. The monies in your Cash Account are held with Standard Chartered Bank.
As long as there are sufficient funds in the Cash Account, your One-Time or Monthly Investment Request will be processed.
The Cash Account currently pays an interest of 0.25% per annum (rates are subjected to change). The interest is accrued daily, compounded monthly and credited on a quarterly basis into your Cash Account.
How can I fund my Cash Account for investments?
Please do an online bank transfer via FAST or PayNow to our custodian's bank account.
On average, it takes 1 business day for funds to be received by our custodian, upon which you will be notified. Until then, the funds will not be reflected in your account. To avoid delay, you MUST use FAST or PayNow and indicate the Reference Code, even if the bank says it is optional.
Transfer Details
Recipient's Name: IFASTFINANCIALPteLtd
Bank Name: Standard Chartered Bank (Singapore)
Bank Account No.: 0102046042
Reference Code: Refer to the unique code tied to your account when you submit a new request.
You can also fund your account using PayNow.
Transfer Details -
Unique Entity Number (UEN): 200000231RAIY
Entity Name: IFAST FINANCIAL PL-CT SUB
Reference Code: Refer to the unique code tied to your account when you submit a new request.
The monies will be deposited into your Cash Account.
To avoid delay, you MUST indicate the “Reference Code” in the “Remarks/ Descriptions/ Comments/Bill Reference number” of your fund transfer, even if the bank says it is optional
I do not live in Singapore. Can I open an account?
Yes, you can. However, we do not accept applications if you reside or have tax residencies in the following countries. Please also take note that your account has to be funded from a Singapore registered bank.
Afghanistan, Albania, Algeria, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Azerbaijan, Bahamas, Bangladesh, Belarus, Belize, Benin, Bolivia, Bosnia-Herzegovina, Botswana, Brazil, Burkina Faso, Burundi, Cameroon, Cambodia, Cape Verde, Central African Republic, Chad, Columbia, Comoros, Congo (Brazzaville), Congo (The Democratic Republic), Cook Islands, Costa Rica, Cote D’Ivoire, Cuba, Curacao, Cyprus, Djibouti, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Gambia, Ghana, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Iceland, India, Iran (Islamic Republic of), Iraq, Jamaica, Kazakhstan, Kenya, Kosovo, Kyrgyzstan, Lao People’s Democratic Republic, Laos, Latvia, Lebanon, Liberia, Lesotho, Libya, Liechtenstein, Macau, Madagascar, Malawi, Maldives, Mali, Marshall Islands, Mauritania, Mexico, Moldova, Mongolia, Monaco, Morocco, Mozambique, Myanmar, Namibia, Nauru, Nepal, Nicaragua, Niger, Nigeria, Niue, North Korea, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Russian Federation, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Somalia, South Sudan, Sri Lanka, St Kitts & Nevis, Sudan, Swaziland, Syria, Tajikistan, Tanzania, The Southern Philippines, The Sulu/Sulawesi, Seas Littoral, The Trans-Sahara, Timor-Leste, Togo, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, Uzbekistan, Vanuatu, Venezuela, Vietnam, West Bank (Palestinian Territory, Occupied), Yemen, Zambia, Zimbabwe
Please note that this list may be updated from time to time.
I am not a Singaporean/PR. Can I open an account?
Yes, you can. However, please note that we do not accept applications from the following nationalities or tax residencies.
    1. United States of America Citizen/Permanent Resident/Tax Resident
    2. Citizens from Afghanistan, Angola, Bosnia, Democratic Republic of the Congo, Eritrea, Guinea Bissau, Haiti, Herzegovina, Iran, Iraq, Laos, Libya, North Korea, Somalia, South Sudan, Sudan, Syria, Turkmenistan, Uganda, Uzbekistan, Vanuatu, Venezuela and Yemen.
      Please note that this list may be updated from time to time.
Can I invest in other currencies?
No. We are currently accepting only SGD.

Managing Your Investments

Where can I see the value of my investments?
You can login to your MoneyOwl Account to check on your portfolio value.
How are my returns calculated?
The total returns are based on time-weighted return approach, which is calculated by multiplying the daily returns of your portfolio and linking them together to show how the returns are compounded over time. It shows you how much $1 of your investment would have grown throughout your investment period, without considering the size and timing of interim cash inflows or outflows. This is in line with how fund managers measure the performance of their funds.
Mathematically, if the period 1 return on your investment is represented by r1, and period 2 is represented by r2 and so on, the Time-Weighted Return is determined by the formula below: Total Returns = [(1+r1) (1+r2) (1+r3) (1+r4) .... (1+rn)] – 1
Example:
Suppose Peter invests $10,000 into a portfolio on 1 Jan. On 1 July, his portfolio is valued at $11,500 and at this point he adds another $1,000 bringing his portfolio value to $12,500 ($11,500 + $1,000). By the end of the year, the portfolio has decreased in value to $12,000.
Period Return (1 Jan to 30 Jun) = ($11,500 - $10,000)/$10,000 = 15%
Period Return (1 Jul to 31 Dec) = ($12,000 - $12,500)/$12,500 = -4%
Therefore, the Time-Weighted Return during this entire period (1 Jan to 31 Dec) is 10.4%, which is computed by geometrically linking the returns of the two periods, i.e. [(1+0.15) (1-0.04)] - 1 = 10.4%
What is Cost of Investment?
The Cost of Investment is the combined Cost of Investment for all the funds that make up the portfolio.
Here’s how we calculate Cost of Investment for each fund:
The left-hand side of this formula calculates the Weighted Average Cost (WAC) of your investment units, which is the average price you pay for each unit of the fund you currently hold. Here’s an example:
You invest $100 today when the price of each unit is $10, so you bought 10 units.
Next month you invest another $200 when the price of each unit is $12.50, so you bought another 16 units.
Therefore WAC = ($100 + $200)/(10 + 16) = $11.54
Note that the WAC changes each time you buy into the fund as the price of the fund changes daily.
We then multiply the WAC by the current number of units of your fund to compute your Cost of Investment. The number of units could have changed due to withdrawals, because when you make a withdrawal from your investments, the units sold multiplied by the WAC will be reduced from your Cost of Investment.
While Net Deposits is a simpler way to look at how much you have invested (simply your deposits minus your withdrawals over a given time frame), one important drawback of Net Deposits is that it can be a negative number when you have a significant withdrawal. Here’s an example of how it can be confusing:
You invest $100 today when the price of each unit is $100, so you bought 10 units.
Next month the price went up to $12.50 and you sold all 10 units.
Therefore, Net Deposits = $100 - $125 = -$25
Your Net Deposits is now negative which is hard to interpret. Using Cost of Investment, the result will be zero which makes a lot more sense.
What is rebalancing? How often is rebalancing done?
Portfolio rebalancing is the process of realigning the weightages of the assets back to the portfolio’s strategic asset allocation. MoneyOwl may, at its discretion, rebalance the portfolio about twice a year, upon meaningful deviation from strategic asset allocation or upon review of the asset allocation of the portfolio.
Why is my portfolio value lower during rebalancing?
During the rebalancing exercise, you may notice a lower portfolio value reflected on your dashboard. This is due to funds currently in transit. Your portfolio value will be updated to reflect its correct holdings once the rebalancing is completed in 6 to 7 working days.
How do I submit an investment top-up request?
You can login to your MoneyOwl Investment Account to submit a top-up request. The top up request will be processed when there are sufficient monies in your Cash Account.
When will my top-up request expire?
Your top-up request will expire after 7 calendar days if there are insufficient monies in your Cash Account to process the order.
How do I submit a monthly buy request?
You can login to your MoneyOwl Account and submit a monthly buy request. We will process all monthly buy requests on the 15th of every month, or the next working day, if the 15th is not a working day, provided that there are sufficient monies in your Cash Account. To ensure that your investment can be executed, we strongly advise you to transfer your money on the 10th of the month (with complete information, including the Reference Code) to ensure that there are sufficient monies in your Cash Account before the 15th of the month. If there are insufficient monies in your Cash Account by the 15th of the month, the monthly investment request will be processed on the 15th of the following month.
Setting up a Standing Instruction
How fast will my buy request be processed?
As soon as there are sufficient monies in your Cash Account, we will process the online request by 3pm on the current business day. If the buy request is received after 3pm, the request will be processed by the next business day.
You will receive an email notifying you on the transaction within 2 business days after request is processed. The holdings will be reflected in your Investment Account within 4 business days after the request is processed.
Please note: Buy requests for SRS Investments will be submitted for processing immediately. Hence, please ensure there are sufficient funds in your SRS account before submitting your buy order.
How soon will my sell request be processed?
We will process the online request by 3pm on the current business day. If the request is received after 3pm, the request will be processed by the next business day.
The price of the funds sold will be based on the ending Net Asset Value (NAV) of business day the request is processed.
You will receive an email notification within the next 2 business days. Redemption Proceeds will be reflected in your bank account within 8 business days for Investment Portfolios and 2 business days for WiseSaver Portfolio. If you choose to receive the proceeds in your Cash Account, the redemption proceeds will be reflected in your Cash Account within 7 business days for Investment Portfolios and 1 business day for WiseSaver Portfolio.
I have funded my Investment Account but have decided not to proceed with the investment. How do I get my monies back?
If there is a buy request which has been processed, you can get your monies back by selling your investments and subsequently withdrawing your monies from your Cash Account.

Multiple Portfolios

Can I set up multiple portfolios to cater to my different financial goals?
Yes, you can set up to a maximum of 20 different investment portfolios.
Can I rename my portfolios?
Yes, you can rename your portfolios to differentiate between different financial goals which the portfolios were set up for.
How many Cash Accounts will I have?
Each portfolio will have a unique Cash Account number tagged to it. Hence, please ensure that you indicate the correct Cash Account number (starting with Gxxxxxxx) that is specific to the particular portfolio which you wish to fund when you do your investments.
Can I transfer funds from one Cash Account to another?
Yes, you can do so. Click into your portfolio, click on the dropdown box “More” -> “Transfer”

Transfers between cash accounts will be processed and completed immediately.

Joint or SRS (Supplementary Retirement Schemes) Accounts

Can I open Joint or SRS Investment Accounts?
Yes, you can. Please note that we are currently handling the opening of joint investment accounts offline. However, once the joint investment account is created, you will be able to access the portfolio online. This includes accessing the portfolio monthly statements and submitting buy/sell orders. It is  a pre-requisite to set up your Personal Investment Account https://www.moneyowl.com.sg/investment before opening your Joint Investment Account.
Please email clientsupport@moneyowl.com.sg for an application form and assistance on next steps.
I already have an existing Personal Investment Account. Can I convert this to a Joint or SRS Investment Account?
No, you can’t. You need to set up a separate Joint or SRS Investment Account. Alternatively, you can redeem all investment holdings in your Personal Investment Account and invest the proceeds into your Joint Investment Account.
Can a person below 18 years of age open a Joint Investment Account?
Yes. However, please note that the main applicant must be above 18 years of age and we will only take instructions from the main applicant.
Can I use SRS to invest for my Joint Investment Account?
No. Only cash can be used for Joint Investment Account investments.
What happens in the event of death of one party?
The doctrine of survivorship shall apply to investment account(s) opened in the joint names of more than one person. In the event of death of one person in a Joint Investment Account, the account will immediately vest in the surviving person. The surviving party will take the letter of administration (if no will) or grant of probate (if there is a will) with a death certificate and look for MoneyOwl. MoneyOwl will make the necessary arrangements with our custodian, iFAST Financial Pte Ltd (“iFAST”).
If the surviving party is a minor, iFAST shall, subject to applicable Laws, act on the instructions of the legal guardian of the surviving minor. In the absence of evidence to the contrary, iFAST shall regard the minor’s natural parents as the minor’s legal guardian.
The surviving party or legal guardian of the surviving minor shall indemnify us and iFAST in respect of any claim which may be made against as a result of complying with the surviving person or legal guardian’s instructions.
In the event of death of one party, what should the surviving party do if he or she wishes to continue or sell off the investment?
Should the surviving party wish to keep the investment, he or she will be required to open a new investment account. The assets are then transferred to the new investment account.
If the surviving party wishes to sell off the investments, there is no need to open a new investment account. The joint investment account will be turned into the estate of the deceased and subsequently sold off under the instruction of the surviving party. This is contingent upon the provision of relevant supporting documents such as death certificate, letter of indemnity or letter of administration.
The surviving party or legal guardian of the surviving minor shall indemnify us and iFAST in respect of any claim which may be made against as a result of complying with the surviving person or legal guardian’s instructions.

Withdrawals

How do I withdraw monies?

For funds that are invested in your portfolio, you can choose to sell part or all your portfolio. However, please note that fund units’ Net Asset Value (NAV) fluctuate and portfolio values are not guaranteed. You may receive more or less than the capital invested.

Redemption monies can be transferred to your Cash Account or bank account.

For monies that are in your Cash Account, you can choose to withdraw all or part of it to your bank account.

How soon will I receive the cash in my bank account?

If you choose to receive the proceeds in your Cash Account, the redemption proceeds will be reflected in your Cash Account within 7 business days for Investment Portfolios and 1 business day for WiseSaver portfolio. 

If withdrawal is done from your Cash Account to your bank account, the money will be reflected in your bank account within 2 business days.

How do I add my bank account details for purpose of receiving redemption proceeds?

You can login to your account and go to the “Edit Profile” page to add your bank account details.

Alternatively, upon your first withdrawal request, you will be asked to add your bank account details. Once your bank account is added, there is no need to fill in your bank account details for subsequent transactions
Note: Bank Account must be registered under your legal name.

Can I designate more than one bank account in which to receive redemption proceeds or withdrawn cash?

You can only add one bank account. If you would like to change the bank account, you can login to your MoneyOwl Account and edit the bank account details in the “Edit Profile” page.

Fees

What are the total fees that I have to pay?
For our Dimensional Portfolios, the new annual fees with effect from 12 August 2020 are as follows:
Asset Under Management (AUM) Old Advisory Fees (% p.a.) New Advisory Fees (% p.a.)
S$10,000 and under 0.65% 0%*
S$10,000.01 to S$100,000 0.60%^
S$100,000.01 and above 0.50%^
Platform Fees 0.18% 0% (Absorbed)

*Promotional rate is applicable to cash investments from 12 August 2020 till 28 February 2021. From 1 March 2021 to 31 December 2021, the promotional rate will also apply to SRS investments. (i.e. the first $10,000 AUM can be cash investments only, SRS investments only or a combination of cash and SRS and cash investments.) This promotional rate does not apply for WiseIncome.

The 0% p.a. fee will be effected through a rebate for any fees charged from 12 August 2020 to 28 February 2021. See FAQ below.

^Applicable to both cash and SRS investments, based on total AUM across all portfolios. AUM of Joint Accounts will be attributed to the main Account Holder for the purposes of determining the Advisory Fee tier.

Excludes fund-level expenses of 0.25% to 0.27% p.a. which are already incorporated into the Net Asset Value (NAV) or price of the fund, i.e., there is no further deduction of units to pay these expenses.

For our WiseSaver Portfolio, there is no advisory fee or platform fee. Fund-level expense for the underlying fund is 0.15% p.a.

The promotional 0% p.a. advisory fee for first $10,000 in your Dimensional cash portfolios, from 12 August 2020 till 28 February 2021, is effected through a rebate. How does this work?

For the period of 12 August 2020 (the start date of our promotional rate) to 28 February 2021, the advisory fees on the first $10,000 in your Dimensional cash portfolios will first be charged to your account (through the normal deduction of fund units) and then rebated back to you. The rebate will be credited into the portfolio investment cash account(s) as determined by MoneyOwl in two rounds; by the end of the first and second quarters of 2021, subject to operational exigencies. As this period is less than one year, both the advisory fee and the rebate will be pro-rated from the annualised fee rate.

AUM amount is measured by the value of all the fund units in your Dimensional cash portfolios. MoneyOwl reserves the right to withhold the fee rebate if clients have redeemed their investment before the date of the actual crediting of the rebate.

Rebates will not be provided if the total portfolio value falls below the minimum value of $50.

Clients will enjoy the 0% p.a. fee and corresponding rebate only up to $10,000 cash AUM per person irrespective of the number of accounts. For Joint Accounts, if any of the personal investment accounts has already enjoyed the full rebate, no further rebate will be provided to the client.

Please note that from 1 March 2021 to 31 December 2021, the 0% p.a. promotional rate for the first $10,000 AUM will already be factored into the calculation of your advisory fees, and hence will not be effected through a rebate.

Terms and conditions are subject to change and MoneyOwl reserves the right to amend these terms and conditions from time to time.
How are fees deducted?
The MoneyOwl Advisory fees are deducted from the units in your portfolio on a quarterly basis. For MoneyOwl, projected returns are net of Total Fees.
Are there any fees if I close my MoneyOwl Investment Account?
There are no fees involved.

WiseSaver Portfolio

Are my capital and returns guaranteed?
There is no guarantee of the capital amount. However, as the underlying instrument is a cash fund which places your money predominantly in fixed deposits of local financial institutions with a minimum short-term rating of F2 by Fitch, P-2 by Moody's, or A-2 by S&P, it is very unlikely that you will experience any capital loss.
Your returns depend on the weighted average gross yield of the underlying deposits, which may fluctuate as market and economic conditions change.
Your savings earn interest on a daily basis net of fees based on the current weighted average gross yield published.
What fees do I pay?
There is a fund level fee of 0.15% p.a., which is factored into the price of each unit, paid directly to Fullerton Fund Management. There are no other fees beyond this.
What is the minimum amount to save in MoneyOwl WiseSaver?
The minimum amount to save in MoneyOwl WiseSaver is $10 for one-time saving and monthly regular savings plan (RSP).
Will there be any lock-in period?
There is no lock-in period for MoneyOwl WiseSaver.
Who is suitable to save in MoneyOwl WiseSaver?
Anyone! This is an alternative savings solution for you to park your liquid funds and receive higher returns than normal bank deposit rates.
However, if you have already set aside 6 months of emergency cash, and have an investment time horizon of more than 3 years, we recommend investing through our MoneyOwl portfolios instead for higher expected returns.
Can I do Regular Savings Plan (RSP)?
Yes. For as low as $10/month, you can be on your way to developing a positive savings habit.
What is the underlying instrument of MoneyOwl WiseSaver?
The underlying instrument is Fullerton SGD Cash Fund which is managed by Fullerton Fund Management. Since 2009, the fund holds its assets primarily in Singapore Dollar Deposits (varying terms of maturity not more than 366 working days) with eligible local financial institutions.
Fullerton Fund Management ("Fullerton") is an Asia-based investment specialist, with capabilities that span equities, fixed income, multi-asset, treasury management and alternatives, including private equity. The firm was incorporated in Singapore in 2003 and is a subsidiary of Temasek. NTUC Income, a leading Singapore insurer, became its minority shareholder in 2018.
How long does it take for me to withdraw my funds from MoneyOwl WiseSaver?
It will typically take 1 - 2 business days to withdraw your funds from WiseSaver depending on whether you have chosen to receive the proceeds in your WiseSaver cash account or directly into your bank account.
WiseSaver Cash Account Bank Account
No. of business days from receipt of instruction* 1 2
*Instructions received after 3pm will be processed the next business day.
I want to move my savings in WiseSaver to invest in a MoneyOwl investment portfolio. What do I need to do and how long does it take?
You will need to do the following:
  1. Redeem your WiseSaver into your WiseSaver cash account.
  2. Create an investment portfolio if you do not have an existing one.
  3. Go into your WiseSaver portfolio and click “Transfer” under More button to transfer the money from your WiseSaver cash account to your MoneyOwl investment cash account.

General Questions

Why am I not receiving email from MoneyOwl?
Do you have a Hotmail, Live Mail, MSN or Outlook email account? Please add us to your safe senders list to make sure you receive our messages! You might want to check your “Other” or “Junk” mailboxes if you still can’t see our messages in your inbox!
To add MoneyOwl as a safe sender, please follow the steps below:
1. Sign into your email account at https://outlook.live.com/
2. Go to “Settings” > “View all Outlook Settings”
3. Select “Email” > “ Junk email” and add moneyowl.com.sg to Safe senders and domains list
Who is iFAST Financial Pte Ltd?
iFAST Financial Pte Ltd provides custodial and transfer agent services to MoneyOwl. Please refer to https://eservices.mas.gov.sg/fid for full details of their licence.
What happens if iFAST Financial Pte Ltd ceases operation?
All investors' money are protected and held in a trust account under our custodian’s iFAST Financial Pte Ltd - Client Trust, which are subjected to MAS regulations. In the unlikely event that iFAST ceases operations, your investment holdings held will either be returned to the investors or transferred to another agent of your choice. iFAST has the responsibility to ensure that all liabilities and obligations to all clients have been fully discharged or provided for, and that proper arrangements have been put in place.
Are my investments with MoneyOwl held in my own name?
Under DFA’s books, your assets are in IFAST’s name and they are held under IFAST’s Client Trust account, separate from IFAST's own assets. Under IFAST’s records, however, the assets are all held in your individual name.
This is similar to purchasing unit trusts through a bank, all the funds are held under the bank’s name while the bank keeps a record of your holdings.
In the unlikely event that IFAST ceases to operate, all the assets will either be transferred to another distributor or fully redeemed and returned back to investor.
I already have an existing iFAST account before starting my MoneyOwl Investment Account. Do I still need to open a new iFAST account?
Yes, you are required to open a new iFAST account if you wish to start your MoneyOwl Investment Account.
How can I get help when I need it?
Our Client Advisers are ready to assist you. Ask us over LiveChat, give us a call at 6329 9188 for all enquiries between Mondays-Fridays (excluding public holidays), 9am-6pm or send us an email at enquiries@moneyowl.com.sg.
Forward Pricing
As with most unit trusts, buy and sell orders for the funds making up the portfolio are transacted at end-of-day prices. The exact price at which you will transact is therefore not known at the point of your placing an order. The price of the fund that you see on screen is from the previous one or two business days before, depending on the fund, not the actual price at which you will transact. The actual price at which you will transact will only be known one or two business days later.
For example:
You redeem $100 of the portfolio (T day). The indicative price of one of the portfolio’s underlying funds, Fund A, is $1 on T day. Based on this indicative price, you will redeem $100 / $1 = 100 units. The actual price of the fund at the end of T day is $1.01. This price is only reflected on T+1 day. You will transact at $1.01 and your redemption proceeds will be $1.01 x 100 = $101.
Full redemptions of portfolio holdings
Outstanding fees on a pro-rated basis apply and will be deducted prior to redemption, if you choose to redeem all your portfolio holdings.
Fund Holidays and Dividend Schedule
On fund holidays, Dimensional and/or Fullerton Funds will not be priced. Transactions on a non-valuation day will be processed the following business day. For a full list of dates please see Dimensional Fund Holidays 2021, Fullerton Fund Holidays 2021.

Why WiseIncome

What is the Fullerton MoneyOwl WiseIncome Fund?
The Fullerton MoneyOwl WiseIncome (referred to WiseIncome for short) is a multi-asset unit trust incorporated in Singapore as a sub-fund under the Fullerton Fund. It is co-designed by Fullerton Fund Management, a Temasek subsidiary and MoneyOwl, an NTUC social enterprise.

The fund aims to generate regular income and long term capital appreciation for investors. Depending on the relevant distributing class, WiseIncome intends to declare out of the income and/or capital of the Sub-Fund quarterly distribution (up to 4.8% p.a.), which are not guaranteed (but in fund manager’s absolute discretion); or a fixed quarterly payout (8% p.a.). Distributions may reduce the Sub-Fund’s NAV.

Please refer to Fund Prospectus or Product Highlights Sheet for more information.
Why did MoneyOwl launch WiseIncome?
MoneyOwl launched Wiseincome with the objective of providing a robust yet low-cost retirement income investment solution for the mass market to complement CPF LIFE, as well as a fuss-free option for non-retirees who wish to have passive income.

WiseIncome can also serve as alternative accumulation strategy for those who are suitable for a balanced portfolio and prefer a passive approach for equity investing.

WiseIncome complements our other savings and investment solutions that have been carefully curated and designed to meet different financial planning needs.

For example, our Dimensional portfolios were designed to give the highest probability of a successful investment experience for those looking to grow and accumulate their wealth over the long term. WiseSaver was designed for those looking for a safe place to park their emergency funds in a cash-like instrument with almost no market volatility.
Why did MoneyOwl choose to work with Fullerton Fund Management?
Fullerton Fund Management, a subsidiary of Temasek Holdings, is an Asia-based investment specialist with 16 years of experience in managing investments across multiple asset classes. Through this partnership, we were able to co-create a multi-asset income distributing fund that is aligned with MoneyOwl’s investment philosophy of focusing on strategic asset allocation, broad diversification and at the lowest cost possible.

Fullerton is also aligned with MoneyOwl’s social mission to provide low-cost fit for purpose solutions to the mass market with their commitment of having one of the lowest annual management fees within this class of funds.
Why should I invest in WiseIncome?
WiseIncome was designed to complement your CPF LIFE payouts by providing you a stream of stable and sustainable quarterly payouts, so that you can enjoy your golden years with meaning and purpose.

With WiseIncome, you can:

Invest with whom you can trust

A solution put together by Fullerton Fund Management, a Temasek subsidiary, and MoneyOwl, an NTUC social enterprise, two strong Singapore companies with a deep heritage of care, expertise and stability.

Earn from broad sources of returns

As a multi-asset fund, WiseIncome provides income payouts and potential capital appreciation from broad sources of returns such as global equities, Asian bonds, S-REITs and US/Singapore government bonds which are triple-A rated for added stability.

Vary payouts according to your needs

You have the flexibility to choose from three payout options to suit your needs at different stages of your life. Choose to either reinvest your dividends to grow your nest egg or start to receive passive income today at one of two payout levels available.

Enjoy one of the lowest fund expenses

WiseIncome has a very competitive fee structure among similar funds in the market. It has one of the lowest fund level expenses, no sales charge and no hidden trailer commissions. Thus, for every 1% p.a. you can save in fees through WiseIncome is 1% p.a. more in returns for you!
Which WiseIncome payout option is suitable for me and my retirement?
There are three basic needs in retirement – a fully paid roof over your head, medical insurance to pay for your healthcare costs and a stream of lifelong income for your living expenses. In Singapore, most of us can depend on CPF LIFE to provide us with a stream of income of up to $2,000 per month in today’s dollar for life.

For those who need a higher level of income, WiseIncome was specially designed to provide a regular income stream to supplement your CPF LIFE payouts.

In addition, depending on your choice of the three payout options available, WiseIncome helps you to achieve a balance between asset growth, income generation and capital preservation for your loved ones.
  • You can choose to grow and reinvest your payouts to accumulate your wealth through the underlying assets which include global equities, Asian bonds, S-REITs and Singapore Government Securities (SGS).
  • You can also choose to start receiving a quarterly dividend of about 4.5%* p.a. of your portfolio value while preserving your capital as much as possible.
  • If maximising your dividend is what you want, choose to receive a fixed 8% p.a. of your portfolio value. This option however may result in withdrawing from your capital which will reduce your portfolio value over time.
What’s more, if you come across a sudden emergency that requires a large sum of money, you can also withdraw your investments partially with no lock-in period or penalties.

*While the fund manager intends to distribute 4.5% p.a. payout for the R share class, the fund manager has the discretion to deviate from this including reducing payout to achieve sustainability of the fund in the interest of unit holders, or alternately, paying a higher rate of up to 4.8% p.a. in some years.

Please refer to Fund Prospectus or Product Highlights Sheet for more information.

WiseIncome Features

How is WiseIncome different from other insurance retirement income plans?
While Insurance Retirement income plans and Wiseincome are both designed to meet your retirement needs through distributing regular payouts, there are some advantages of using WiseIncome over Insurance Retirement Income plans to supplement your retirement income.

Wiseincome has no lock-in period and does not impose charges for early withdrawal. With Wiseincome, there is no need to pay for additional costs related to insurance coverage and this savings will result in higher returns in the long run.

However, Insurance Retirement Income plans could be suitable for those who are looking for insurance coverage and for those who want some level of guarantees in their payouts.

To determine which solution would be more suitable for you, please reach out to your MoneyOwl client adviser who will be able to give you an objective recommendation. All MoneyOwl client advisers are fully salaried and do not receive any product commissions and you can rest assured that your assigned adviser will only act in your best interest.
What is the asset allocation like for Fullerton MoneyOwl WiseIncome?
The Fund manager holds about 30% of the sub-fund in Global Equities (made up of passive index tracking ETFs), 30% in Singapore REITs, 28% Asian Credit (mostly investment-grade Asian corporate bonds), 10% in Singapore Government Bonds and 2% in cash.

Unlike its peers, the portfolio is constructed with a strategic asset allocation strategy, which means that the weights of the underlying funds are unlikely to change although the fund manager has the discretion to allow a drift of +/- 5% deviation from the portfolio’s target allocation (+/-10% between the two large asset classes in times of extreme market conditions)  for efficient portfolio management.

There is no option to change the asset allocation for this portfolio.
What is the difference between share class R and share class R1?
For share class R (i.e. 4.5% payout option):

The fund will declare a quarterly distribution of about 4.5%* p.a. (i.e. 1.125% per calendar quarter) of the portfolio value with potential to distribute up to 4.8%* p.a. during periods of outperformance. This dividend will be paid out of income received by the fund and/or capital. The fund manager has full discretion to vary the payout rate to sustain the longevity of the fund. For this share class, there is a choice to either receive or reinvest the payouts.

For share class R1 (i.e. 8% payout option):

The fund will declare a fixed quarterly distribution of 8% p.a. (i.e. 2% per calendar quarter) of the portfolio value out of the income received by the fund and/or capital. The amount paid out of capital, if any, would be substantially higher than the *4.5% payout option and over time could lead to a reduction of the portfolio value. There is no option to reinvest the payouts for this share class.

*While the fund manager intends to distribute 4.5% p.a. payout for the R share class, the fund manager has the discretion to deviate from this including reducing payout to achieve sustainability of the fund in the interest of unit holders, or alternately, paying a higher rate of up to 4.8% p.a. in some years.

Please refer to Fund Prospectus or Product Highlights Sheet for more information.
When will I receive my payouts?
The fund will declare dividends on the record date which falls on the last day of the calendar quarter, i.e. 31 March, 30 June, 30 September, and 31 December. Trades that are not placed by the record date will not be eligible for dividends for that quarter.

You will receive the payouts into your cash account on the first business day of May, August, November, and February, respectively.

Example:

If you were to invest in Fullerton MoneyOwl WiseIncome for the first time on 1 April, the first dividend will be declared on 30 June and you can expect to receive your cash on 2 August as 1 August is a non-business day.
Are returns guaranteed for Fullerton MoneyOwl WiseIncome?
As with any other investments, investing in Fullerton MoneyOwl WiseIncome exposes you to market risk, and returns are not guaranteed. While the fund manager intends to distribute *4.5% p.a. payout for the R share class, the fund manager has the discretion to deviate from this so as to achieve sustainability of the fund. The 8% p.a. for the R1 share class is fixed.

Any distributions made (whether out of income and/or capital) may cause the Net Asset Value of the Sub-Fund to fall. Furthermore, distributions out of the capital may amount to a partial return of your original investment and may result in reduced future returns for you.

*While the fund manager intends to distribute 4.5% p.a. payout for the R share class, the fund manager has the discretion to deviate from this including reducing payout to achieve sustainability of the fund in the interest of unit holders, or alternately, paying a higher rate of up to 4.8% p.a. in some years.

Please refer to Fund Prospectus or Product Highlights Sheet for more information.
What is the dealing cut-off time for Fullerton MoneyOwl WiseIncome?
Your online orders have to be placed and funded by 3pm Singapore time every weekday.
How do I estimate my quarterly payout amount?
Your actual quarterly payout will be based on the dividend per unit (DPU) declared by the fund on record date. The amount that will be credited to your cash account is the DPU x the number of units of WiseIncome held on record date.

If you would like to estimate your quarterly payout amount, multiply 1.125% (4.5% divided by 4)or 2% (8% divided by 4) by your current portfolio value. Do note that your payout amount is based on a percentage of your net asset value or portfolio value and not capital invested.

For example, if you had invested $100,000 in WiseIncome and chose the 4.5% p.a.* payout option, if your portfolio value had not moved at the end of one quarter, your estimated payout amount will be 1.125% x $100,000 = $1,125.

If your portfolio value had increased to $110,000 instead, your payout will be more, i.e. 1.125% x $110,000 = $1237.50. On the other hand, if the portfolio value went down to $90,000, you will get 1.125% x $90,000 = $1012.50.

The portfolio value is not guaranteed as all investments come with risk. However, if you have a time horizon of at least 8 years, you can be reasonably confident of being able to preserve value.

*While the fund manager intends to distribute 4.5% p.a. payout for the R share class, the fund manager has the discretion to deviate from this including reducing payout to achieve sustainability of the fund in the interest of unit holders, or alternately, paying a higher rate of up to 4.8% p.a. in some years.

Please refer to Fund Prospectus or Product Highlights Sheet for more information.
What will happen to my portfolio value after dividends are declared?
As dividends are declared and paid out from the Net Asset Value of the fund, the price of the fund is expected to drop correspondingly by the amount of dividends declared immediately after the Record Date (i.e. dividend declaration date). This is normal behaviour and it does not mean that you have sustained a loss on your investments.

For example, if the fund price is $10 per unit and it declares a dividend rate of $1 per unit, then the fund price will drop to $9, all else equals.

If you have chosen to reinvest your dividends, these dividends will be used to buy additional units into WiseIncome within 14 business days from the Record Date. In doing so, your portfolio value will increase by these additional units purchased.

If you have chosen to receive your dividends in cash, the amount will be credited into your cash account on the first business day of Aug, Nov, Feb and May respectively. The sum of these dividends received over time will be factored when calculating the total returns of your portfolio.

Setting Up Your WiseIncome Account

What is the minimum amount that I can invest with Fullerton MoneyOwl WiseIncome?
You can invest as little as $1,000 in a lump-sum or $100 per month in a Regular Savings Plan (RSP) to accumulate towards for your retirement needs.
What can I use to invest in WiseIncome?
You can invest using either cash or SRS. If you are investing with SRS, you will only be able to choose the 'Grow and Invest' option. You cannot use CPF funds to invest in WiseIncome.
I’m an existing investment client, how do I subscribe for WiseIncome?
Step Details
1

Log in to your MoneyOwl Account

2

Click on “Add new Portfolio”

3 Click on “Receive Passive Income”
4 Follow the onscreen instructions to set up the portfolio, just like you would for your existing portfolios
Can I open a joint-account for WiseIncome portfolio?
Yes you can. Please note that we are currently handling the opening of joint investment accounts offline. However, once the joint investment account is created, you will be able to access the portfolio online. This includes accessing the portfolio monthly statements and submitting buy/sell orders.

It is a pre-requisite to set up your Personal Investment Account at moneyowl.com.sg/investment before opening your Joint Investment Account.

Thereafter, please contact us at moneyowl.com.sg/contact-us to request for an application form and assistance on next steps.

Do note that clients who do not have a MoneyOwl online investment account are not eligible for joint-account application.
Can I set up multiple WiseIncome portfolios?
Yes. You can set up as many as you want with your choice of payout options. Further personalise them by renaming your portfolios.
I want to move my savings in WiseSaver to WiseIncome. What do I need to do and how long does it take?
You will need to do the following:
Step Details
1

Redeem your WiseSaver into your WiseSaver cash account. The proceeds will be credited into your cash account within 1-2 business days.

2

Create a WiseIncome portfolio if you do not have an existing one.

3 Once your proceeds have been credited into your WiseSaver cash account, go to WiseSaver portfolio, under ‘More’ button click “Transfer” to transfer the money from your WiseSaver cash account to your WiseIncome cash account. This transfer is immediate.
4 Once the system ascertains that you have sufficient balances in your WiseIncome cash account, the trade will be placed immediately and completed within 4 business days.
Can I invest in WiseIncome without going through your online portal?
If you have an email address, we will strongly encourage you to set up a MoneyOwl account so that you can easily place your transactions through our online portal and access your portfolio details and statements in real time. Our client support team will be happy to guide you through the account opening process in person or via video conferencing.

If you do not have an email address or have difficulties setting up one, we will require you to apply for the fund purchase in person at our office at 23 Keong Saik Rd. Please call us at 63299188 to make an appointment with us before coming and one of our client advisers will guide you through the process and address any questions you have on the product.

You will need to bring the following documents as well:
  • NRIC
  • Proof of address for foreigners (Only documents within 3 months from the date of applications are considered valid. Examples of documents accepted are: Utility bill, Bank letter, any legal or Government letter)
How can I switch from one payout option to another?
Steps Details Business days required
1. Redeem your WiseIncome into your WiseIncome cash account (A) T+7
2. Create a WiseIncome investment portfolio (B) if you do not have an existing one Immediate
3. Go into your WiseIncome portfolio (A) and click “Transfer” under "More" button to transfer the money from your WiseIncome cash account (A) to your selected WiseIncome cash account (B) Immediate
4. Execute the Buy Order from selected WiseIncome cash account (B) T+4
Total estimated turnaround time T+11
 
How do I redeem units of my investment in Fullerton MoneyOwl WiseIncome? Is there any lock-in period?
There is no lock-in period for WiseIncome. However, we do advise our clients to have a minimum holding period of at least 8 years to minimise the risk of loss.

Please follow these steps to redeem your investment from WiseIncome:
Step Details
1

Log in to your MoneyOwl Account

2

Click on “WiseIncome Portfolio”

3 Select the portfolio that you would like to redeem from
4 Click on “More” at the top right corner of the screen
5 Select the “Withdrawal” option
6 Submit a request to redeem from Portfolio to Cash Account or Portfolio to Bank Account
Your proceeds will be credited into your cash account or bank account accordingly within 7-8 business days.
How do I withdraw my dividend payout?
Your dividends will be credited to your portfolio's investment cash account. To withdraw the monies from your cash account, please follow these steps.
Step Details
1

Log in to your MoneyOwl Account

2

Click on “WiseIncome Portfolio”

3 Select the portfolio you would like to redeem from
4 Click on “More” at the top right corner of the screen
5 Select the “Withdrawal” option
6 Submit a request to redeem from Cash Account to Bank Account
The proceeds will be reflected in your Bank Account within 1-2 business days.

Fees

What are the advisory fees for Fullerton MoneyOwl WiseIncome?
From now till 31 December 2021, enjoy a promotional advisory fee on your WiseIncome portfolios:
Assets Under Management (AUM) WiseIncome Advisory Fees (% p.a.)
S$100,000 and under 0.30% (Usual rate: 0.60%)
S$100,000.01 and above 0.25%(Usual rate: 0.50%)
Platform Fees 0% (Absorbed)
*Applicable to both cash and SRS investments, based on total AUM across all WiseIncome portfolios only. AUM of Joint Accounts will be attributed to the main Account Holder for the purposes of determining the Advisory Fee tier.
What is the Total Expense Ratio (TER) of Fullerton MoneyOwl WiseIncome?
TER for both share classes comprises of annual management fees of 0.4% p.a. and other fund level fees required to run the fund. It is ranked in the lowest quartile in terms of management fees for multi-asset and target return funds registered in Singapore, based on Morningstar Direct*. As this is a newly launched fund, we are not able to provide the full TER of the fund as this is dependent on fund size. TER is not deducted from units but is implicit; its impact is incorporated into the Net Asset Value of the sub-funds and reflected in fund performance.

*Source: Morningstar Direct, as of 31 December 2020. Morningstar universe includes 104 ‘Allocation’ and ‘Target Date’ funds under the EAA Morningstar category, with available management fee data that are registered for sale in Singapore.
What are the fees and expenses I need to pay for Fullerton MoneyOwl WiseIncome?
The fees payable are listed below:  

  • Annual advisory fee to MoneyOwl which will be deducted from units every quarter (pro-rated by days invested).
  • Annual fund-level expenses comprising an annual management fee to Fullerton Fund Management and other expenses, reflected in the Total Expense Ratio.
These fund level expenses are not deducted from units but are implicit; their impact is incorporated into the NAV of the fund and reflected in fund performance. WiseIncome has one of the lowest expenses among multi-asset unit trusts in Singapore.

Apart from this, there are no further charges. There is no sales charge for investing in WiseIncome and no redemption charges. The fund does not pay any trailer commissions or retrocessions to MoneyOwl. Furthermore, MoneyOwl will absorb the platform fee charged by iFast Financial Services, which provides custodial and platform services.