Managed income portfolios offer investors a way to invest in a diversified mix of income-generating assets without having to select and monitor each investment individually.
In Singapore, digital wealth platforms such as Endowus, Syfe and StashAway offer portfolios designed to generate regular income. While they share a similar objective, they take different approaches to portfolio construction, payouts, funding options and fees.
How Endowus Income, Syfe Income+ And StashAway Income Investing Compare
Endowus Income, Syfe Income+ and StashAway Income Investing are all designed for investors who want to generate regular income without managing a portfolio of individual bonds or funds themselves. However, they take somewhat different approaches.
Endowus offers several Income Portfolios with different mixes of fixed income and, in some cases, equities.
Syfe Income+ offers two portfolios, Preserve and Enhance, built using PIMCO-managed fixed-income funds.
StashAway Income Investing, meanwhile, is a low-risk fixed-income portfolio powered by J.P. Morgan Asset Management, with investors able to choose between receiving payouts or reinvesting them.
These differences can affect the level of risk investors take, how they receive their income and which sources of funds they can use.
| Feature | Endowus Income | Syfe Income+ | StashAway Income Investing |
| Portfolio format | Three main Income Portfolios with different income and risk profiles | Two fixed-income portfolios: Preserve and Enhance | One low-risk fixed-income portfolio |
| Main investments | Fixed-income funds, with equities included in Higher Income and Future Income | Actively managed PIMCO fixed-income funds | Diversified investment-grade fixed-income funds, with asset allocation guidance from J.P. Morgan Asset Management |
| Payout options | Regular payouts, generally received monthly | Monthly payouts or automatic reinvestment | Reinvestment or customisable payouts |
| Payout frequency | Generally monthly* | Monthly | Monthly, quarterly, half-yearly or annually |
| Funding options | Cash and SRS; CPF availability depends on the underlying investments | Cash and SRS | Cash and SRS |
| Management/platform fee | 0.25%–0.60% p.a. for cash Income Portfolios; 0.40% p.a. for multi-fund CPF/SRS portfolios | 0.25%–0.65% p.a., depending on pricing tier | 0.20%–0.80% p.a., depending on total assets |
| Lock-in period | No lock-in | No lock-in | No lock-in |
*Endowus says investors can generally expect payouts monthly, although the Future Income portfolio includes a fund that distributes quarterly.
What Is Endowus Income?
Endowus Income comprises several managed portfolios intended to provide different combinations of income, capital stability and long-term growth.
The range includes Stable Income, Higher Income and Future Income portfolios. Their allocations vary, with exposure potentially including government bonds, investment-grade corporate bonds, high-yield debt, emerging-market debt and equities.
The Stable Income Portfolio is fully allocated to fixed-income investments. Higher Income takes greater credit risk to target a higher level of distributions, while Future Income includes a larger equity component for investors seeking both income and potential capital growth.
Endowus uses a multi-manager structure, meaning the portfolios can hold funds managed by several investment firms rather than relying on a single fund manager. Its platform also provides access to investments using cash, CPF and SRS, although the eligible funding source differs between funds and portfolios.
Investors using the DollarsAndSense Endowus sign-up link can receive S$50 off their Endowus fee for 184 days. Endowus’ fees depend on the type of portfolio, funding source and amount invested. Fund-level expenses may also apply, although Endowus rebates trailer fees it receives from fund managers.
Those interested in the platform can also open an Endowus account using the referral link.
Read Also: Why I Think It Makes Sense To Invest Your CPF OA Savings In A Global Portfolio Through Endowus
What Is Syfe Income+?
Syfe Income+ consists of globally diversified fixed-income portfolios managed in partnership with PIMCO.
There are two main options: Income+ Preserve and Income+ Enhance. Preserve focuses on regular income while seeking to reduce capital fluctuations. Enhance takes more credit risk in pursuit of higher income and potential long-term capital appreciation.
The portfolios invest through PIMCO funds that cover different segments of the global bond market. These may include government bonds, investment-grade corporate debt, high-yield bonds, securitised credit and emerging-market debt.
Syfe requires at least S$5,000 in the Income+ portfolio before monthly distributions can be paid into the investor’s bank account. Distributions may instead be reinvested. Syfe charges a managed portfolio fee based on the investor’s pricing tier, while the expenses charged by the underlying PIMCO funds are separate from Syfe’s platform fee.
Investors can learn more about Syfe Income+ and its other managed portfolios, including Core, Equity100 and REIT+.
New users who sign up and enter the promo code SPDNS in the Syfe app can receive up to seven months of fee waivers on Syfe Managed Portfolios. The promotion is available through the Syfe DollarsAndSense affiliate page.
Read Also: Investing With Syfe: 7 Things You Need To Know About This Singapore’s Robo-Advisor
What Is StashAway Income Investing?
StashAway Income Investing is a managed portfolio that combines several income-producing asset classes. Its Singapore portfolio includes exposure to government bonds, corporate bonds, real estate investment trusts and equities. This differs from a portfolio invested exclusively in fixed income, as the REIT and equity allocations may contribute both dividends and greater price fluctuations.
Investors can select monthly or quarterly payouts and adjust the amount they receive. StashAway reinvests income within the portfolio and funds scheduled payouts by selling the required number of portfolio units.
As a result, the amount paid out is not necessarily the same as the income or return generated by the portfolio. If payouts exceed the income earned by the portfolio, part of the payout may come from the invested capital, which could reduce the portfolio balance over time.
StashAway charges an annual management fee based on assets under management, with lower marginal fee rates applying at higher investment amounts. Investors also incur fees charged by the underlying funds, although StashAway rebates trailer fees received from fund managers.
Readers can view StashAway’s portfolios through the DollarsAndSense link.
New users who register through the StashAway affiliate page can receive a 50% discount on management fees for six months, applying to the first S$50,000 invested.
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