Update on my SRS account

This is a quick update on my SRS account.

I had eventually decided to go with Endowus for my SRS funds. I like the transparent and low fees that Endowus is providing for retail investor like me to gain access to some of the best global equity funds. You can see some of the comparison I did here for SRS investment.

However, I feel that the global equity market is recovering way ahead of the actual economic recovery. As such I have put my SRS into Cash Smart Enhanced for now. I know I should not be timing the market but putting in a lump sum into the equity market now gets too emotional for me. So I have decided to put my SRS into Cash Smart Enhanced to earn a higher interest than 0.05% while I slowly DCA into the 100% Equity funds.

So far for about 2 months into Cash Smart Enhanced, it is already giving me way more returns than what OCBC would have given me in a year.  

 

Something I noticed is that I cannot transfer my funds directly from Cash Smart Enhanced to Equity funds directly to perform the DCA into Equity funds. I will need to redeem the money from Cash Smart Enhanced back to my SRS Account before investing that money back into Endowus Equity funds again. It is currently taking about 3 to 4 days for a transaction between SRS and Endowus and it will take about 9 to 12 days to move funds from Cash Smart and Equity funds. A tad too long don't you think?

Endowus, if you are reading this, please add in the feature of direct fund movement within Endowus. It will save a lot of time and hassle that is currently needed to move funds between Cash Smart Enhanced and Equity fund.

If you are interested in putting your SRS money into better use rather than sitting in the bank earning meager 0.05% p.a interest, you can sign up with Endowus and get $10,000 managed free for 6 months (the equivalent of $20). Disclosure: I will be getting the same incentive if you sign up using my referral.

Thanks and Happy Value Investing