New Amundi low-cost index funds now available for investing on Endowus under CPFIS
Two index funds with an expense ratio as low as 0.10% and 0.05% per annum, make them one of the most cost-effective investment options available on CPFIS.
Amundi, the largest European asset manager and one of the world’s largest passive managers, has launched two low-cost index funds included under the CPF Investment Scheme (CPFIS), in partnership with Asia’s leading digital wealth management platform Endowus. With this offering, investors in Singapore will be able to tap into their CPF savings to gain a passive and cost-effective exposure to two major equity indices.
The two funds Amundi Index MSCI World Fund and Amundi Prime USA Fund provide exposure to the MSCI World Index and the Solactive GBS United States Large & Mid Cap Index respectively. The funds’ low TER (Total Expense Ratio) combined with Amundi’s recognized ability as one of the largest passive managers in the industry, have allowed the funds to track the index efficiently, mirroring the indices’ performances since inception. They will be exclusively available for investing as standalone funds on the Endowus platform – known for offering professional digital advice and user experience. These funds will also be included as a core allocation into the Endowus Flagship CPF portfolios, which are global diversified and low cost.
Albert Tse, Amundi’s CEO for South Asia, said: “Preparing for retirement and growing one’s savings continues to remain top of mind for Singaporeans. The low-cost index funds are designed to help provide long-term growth potential, while keeping investment costs low for investors. Our aim is to democratize access to quality investment options and help Singaporeans build a better financial future in retirement.”
Sam Rhee, Chairman and Chief Investment Officer of Endowus, said: “Taking Amundi’s new low-cost passive index funds into the CPFIS, opens up a new era of truly low cost passive index investing for all CPF members who have been demanding for a solution like this. As the first CPF digital advisor, Endowus has pioneered a new way CPF members can invest better to achieve better outcomes. These include the removal of unnecessary fees and offering a 100% cashback of trailer fees, as well as offering a seamless, end-to-end CPF investing capabilities through technology. We are thrilled that we were able to partner with Amundi again to enable CPF members to finally have the products needed to invest better so they can improve their retirement adequacy and chances of securing a robust financial future.”
The inclusion of the funds in CPFIS is part of Amundi’s longer term plans to increase investment accessibility as it looks to further expand the offerings to include active funds as well as a full range of other funds that can be accessed by retirement savings via the scheme.
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