Singlife Savvy Invest II — Portfolio Dashboard

📊 Portfolio Summary

📈 Historical Performance (3-Year)

Fund Price History — Normalised to 100 (Jul 2023 – Jun 2026)

Portfolio Allocation by Value (SGD)

🏦 Fund Profiles & Risk Analysis

💰 Charges Timeline — Where Your Money Goes

⚠️ Policy-Level Charges (Deducted from Account Value)

Administrative Charge: 0.60% p.a. of account value — deducted monthly throughout the entire policy term.

Supplementary Charge: 1.90% p.a. of account value — deducted monthly for the first 10 policy years.

Combined policy charge: 2.50% p.a. for Years 1–10, then 0.60% p.a. thereafter. On top of underlying fund management fees (typically 1.0–1.8% p.a.).

Year	Premium Paid	Welcome Bonus	Loyalty Bonus	Gross Value (pre-charges)	Admin Charge (0.60%)	Supp. Charge (1.90%)	Total Charges	Net Account Value

📊 Key Charge Insights

🔴 The Reality Check

Over 3 years, you pay SGD 5,210 in policy charges alone. Over 10 years, that compounds to SGD 24,120 — nearly one full year of premium eaten by charges. This is on top of underlying fund management fees (estimated 1.0–1.8% p.a. per fund), which add another SGD 15,000–25,000 over 10 years.

The Welcome Bonus (SGD 15,000) partially offsets this, but only if the portfolio grows sufficiently. If funds underperform, charges still apply — they're a percentage of account value, not of gains.

🎯 Recommendation

✅

What's Working Well

Diversified across 6 funds spanning global tech, gold, Asia dividend, China recovery, India growth, and global quality — good geographic and sectoral spread.
BGF World Tech is your star performer — +53% (1Y), +31% (3Y annualised). 1st quartile across all trailing periods. AI supercycle tailwind.
Welcome Bonus of SGD 15,000 (60% of Year 1 premium) provides an immediate 60% boost to your starting capital — a significant head start.
Fundsmith Equity provides steady quality-growth ballast with a proven 10-year track record (9.6% p.a.). Terry Smith's "buy good companies, do nothing" philosophy.
Free fund switching — no switch fee. You can rebalance across the 6 funds as market conditions change.
Life insurance coverage included — death and terminal illness protection alongside investment.

📋

Actionable Recommendations

Hold all 6 positions for now — your portfolio is only ~1 month old (started Aug 2025 based on the statement). Give it at least 12 months before rebalancing.
Monitor GS India closely — it's your worst performer (-8.89% past year, -5.2% YTD). India valuations remain stretched (Nifty 50 P/E ~22). If it doesn't recover by Month 12, consider switching to FSSA Dividend Advantage for income stability.
Consider trimming BGF World Gold after the next gold cycle peak — gold mining equities are the most volatile holding (40%+ drawdowns in bad years). Treat as tactical, not core.
Top up Fundsmith if you can — it's your largest position (27.4%) and the most defensive. Quality compounding over 10+ years is the surest path to wealth.
Track the supplementary charge — 1.90% p.a. for 10 years is steep. After Year 10, this drops off and your effective charge falls to 0.60% p.a. Plan to hold beyond Year 10.

😈 Devil's Advocate — The Case Against This Plan

❌

Structural Problems

Total cost drag: 3.5–4.3% p.a. — the 2.50% policy charge PLUS underlying fund fees (1.0–1.8%) means you need 4%+ gross returns just to break even. An equivalent ETF portfolio costs 0.15–0.40% p.a. — a 10x cost difference.
SGD 24,120 in charges over 10 years — that's nearly one entire year of premium gone to fees. Over 20 years at 2.50% p.a., charges on a growing portfolio could exceed SGD 60,000+.
1.90% supplementary charge is front-loaded — it's charged for 10 years but the most damage is done early when compounding matters most. Each dollar lost to charges in Year 1 costs you ~SGD 4 in lost Year-20 value.
Illiquidity — partial withdrawal charges during the MIP, surrender charges if you exit early. You're locked in for 3 years minimum, penalised for leaving.
You don't own the funds directly — Singlife holds them. If Singlife restructures, changes charge rates (they reserve the right to increase the admin charge), or winds back the bonus structure, you have no recourse.

⚖️

The ETF Alternative

Self-directed ETF portfolio via IBKR or Saxo: 70% VWRA (global equities, 0.22% TER) + 30% EIMI (emerging markets, 0.18% TER) would cost ~0.20% p.a. total vs your 3.5–4.3% p.a. — saving you SGD 20,000+ over 10 years.
The Welcome Bonus is a hook — SGD 15,000 sounds generous, but it's funded by the very charges you'll pay. Over 10 years, the 2.50% p.a. charge on a growing portfolio far exceeds the SGD 15,000 bonus. You're paying for your own bonus.
6 funds ≠ diversification — you have 3 single-sector/country bets (Gold, China, India) that are highly correlated to emerging market risk sentiment. If risk-off hits, all three fall together. A true diversified portfolio would have bonds, not just equity satellite bets.
Fundsmith 3Y return: -2.8% annualised — your largest holding (27.4%) has been actively destroying value for 3 years. The "quality" premium is dead money in an AI-driven market. Is Terry Smith past his prime?
Insurance cost is hidden — the Cost of Insurance (COI) is embedded but not transparent. As you age, COI increases. You could buy term life insurance for SGD 500–800/year and invest the difference yourself — likely coming out ahead.
Currency risk on Fundsmith — it's USD-denominated inside an SGD policy. SGD/USD movements add an unmanaged layer of volatility you can't control.

⚖️ Balanced Verdict

Is this plan worth keeping? Yes, for now — the Welcome Bonus and the fact that you're only 1 month in means the switching cost outweighs the benefit. But set a Year 3 checkpoint: at the end of the MIP, compare your net return (after all charges) against a benchmark ETF portfolio. If the ILP underperforms by more than 1.5% p.a. net of charges, consider whether to continue paying premiums or redirect to a self-directed portfolio after the MIP ends.

The uncomfortable truth: ILPs are designed to benefit the insurer, not the investor. The 2.50% charge + fund fees make this one of the most expensive ways to access funds that you could buy directly for 10x less. The Welcome Bonus and "free switching" are features designed to make an inherently expensive product feel generous.

Disclaimer: This dashboard is for personal tracking purposes only. Historical performance figures sourced from Financial Times Markets, FundSuperMart (FSMOne), Prudential Singapore, Endowus, and fund manager factsheets as of June 2026. Performance data is modelled for chart visualisation where actual daily NAV history was not available — figures are indicative, not precise. Past performance is not indicative of future results. The charges projection assumes a constant 5% gross annual return for illustrative purposes; actual returns will vary. This is not financial advice. Consult a licensed financial adviser before making investment decisions.

Sources: Singlife Savvy Invest II Product Page · Product Summary (May 2024) · Financial Times Markets · FSMOne Fundsupermart · Fundsmith Factsheet · FSSA Investment Managers · BlackRock