Friday, November 3, 2017

StashAway Just Got Better! (Mobile App + New Interface)

A few days ago, I was shopping in Google Play Store and I happened to come across the StashAway mobile application. I went on to check the developer information to confirm that it is a legitimate application.


For example, there are many fake WhatsApp applications out there, so be careful! Given the necessary permissions, these applications can actually spy/steal information from you. Read your files, messages, contacts, etc.


My bad, I digress... So I immediately downloaded the application and set it up. During the setup, you will be prompted to authenticate using fingerprint or PIN going forward.



You might notice that the interface is slightly different but everything that is accessible from the web interface can be accessed from the mobile application which is great! Not sure why StashAway did not broadcast/market their mobile application yet.

Regardless, you can download the mobile application here:
Play Store - https://play.google.com/store/apps/details?id=com.awp.stashaway&hl=en
iTunes Store - https://itunes.apple.com/us/app/stashaway-wealth-manager/id1229966330?mt=8

I was surprised to see a change in its web interface on 1st November after launching their mobile application! It is finally providing more information to the end user although I feel that there is still room for improvement.

Home/Portfolios


Nothing much has changed over here. CZM and I only set up 1 portfolio using our a portion of our KPO Fund.

Assets


StashAway has broken down the returns into 2 parts:
1. Investment Returns (movement from prices of underlying ETFs)
2. Currency Impact (foreign exchange movement between SGD and USD)

Do note that the above returns exclude fees (one has to click on the question mark and read the information to be aware) which I felt was slightly misleading. The previous interface showed a single return after fees.

It also shows the Money-weighted Return/Internal Rate of Return (IRR) which is your total return after deducting the fees.


The new interface now allows one to change portfolio easily with a drop-down of all your portfolios.


This is my favorite change! One can now see the P&L of individual ETFs across 3 time periods (1 day, 1 month or all time) which gives one the visibility into which ETFs is making/losing money. This was one of our biggest complaint that there is insufficient transparency when the investor cannot even see the P&L of his underlying investments.

The dividends are still not visible to investors as of this moment. It will briefly appear as an additional row(s) under "Dividends" when a particular ETF is paying a dividend and once it is paid, it goes to the "Cash (USD)" component and the "Dividends" row(s) disappear into thin air. You will see it being paid in the monthly statement and that is about it, you would then lose that information/visibility forever. In my opinion, dividends contribute to the overall P&L of the ETF and should be shown in a separate column.

Transactions


Nothing change in this tab. I was hoping the exchange rate during the conversion of SGD to USD would be captured somewhere, ideally here but guess not.

Let's wait and see if there are any changes to its monthly statement :)

4 comments:

  1. Thanks for the heads-up! I have been waiting for the Android app to launch for the longest time.

    - Kevin L.

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  2. Hi KPO,

    Normally how many days will the fund then appear in the stashaway app after deposit?

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    Replies
    1. Hi Stephen,

      You can see from my "Transactions" section (above screenshot), my last few transfers were on the 25/10, 01/10, 25/08 and 01/08. It takes a few days before it is reflected in StashAway.

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