$$$ KPO and CZM $$$: Syfe - February 2021

Wednesday, March 17, 2021

Syfe - February 2021

As mentioned in my previous update, I have closed the Equity100 portfolio and transferred everything to REIT+. I am going to sound like a broken recorder but these are the reasons:
  1. By displaying shares in 2 decimal places, there are some rounding inconsistencies. For example, the transactions section shows 0.01 for share A on day x followed by 0.01 for share A on day y. When I sum them up, I am expecting 0.02 but the portfolio composition shows only 0.01. This makes tracking extremely difficult.
  2. I cannot accept the <0.01 being displayed in Equity100 for the same reason as above.
  3. For Equity100, the currency being displayed is in SGD while the underlying investment and fees are in USD. As a result, when I looked at the fees, it is showing different values on different days which makes tracking difficult again.
  4. Based on the stats I am seeing in StocksCafe which I blogged about previously too, Equity100 is taking on more risk but providing a lower return
If you are wondering, I will not be reviewing/opening a Syfe Core portfolio for the same reasons as above. In fact, I was contemplating if I should close everything including REIT+ since it is also affected by the first reason (displaying shares in 2 decimal places) but decided to keep it because I really like the REIT+ portfolio. It is definitely more transparent as compared to a REIT ETF where you will be able to see all the corporate actions such as mergers, rights issues, etc. in your transactions. The monthly DCA ensure that I will always invest my money by taking my emotion out of the picture.

Our Syfe Portfolio
Composition: 100% REITs
Dividend: Reinvest
Monthly Investment: $1,000

Account Statement (Lifetime)

Our current tier is Blue (<$20,000). This is determined by the size of the portfolio (currently $15,531.26) which in turn determines the fees to be charged. The statement lifetime return is $1,831.26 which includes a $1,280 referral bonus. The actual lifetime return would be $551.26. Thanks to our readers for using our code!

Account Statement (February 2021)

The return for the month is -$276.83 which includes a $60 referral bonus. 

As of 17 March 2021, this is our portfolio performance:

Capital: $14,553.28 ($10,000.00 + $4,553.28 from Equity100)
Current: $15,833.07 (20.87% - return is skewed due to referrals)

Capital: $3,700.00
Current: $4,553.28 (52.44% - return is skewed due to referrals)

Transaction Breakdown

There are too many so I will just share a snippet. Anyway, if you want to extract the transaction information from Syfe, do take a look at this article - Syfe Transactions Parser. Anyway, the parser will not work accurately for the Syfe Core, Equity100, and Global ARI portfolios when there are small transactions (<0.01) which I have set them to 0.00 instead. You can refer to this for more information - Syfe - July 2020. The parser will work better/more accurately if Syfe is willing to change its UI and display more decimal places...



After parsing them into a csv file, I pivoted the data to get the following view.

Management Fee

The management fee can be obtained by $15,101.22 x 0.65% / 365 * 28 ~ $7.51.

In my opinion, the return captured by StocksCafe will be a more accurate representation of our portfolio return as the referral bonuses are treated as capital. Having said that, I can also understand why Syfe treats them as a return instead of a deposit too. Just a different perspective. 

Anyway, looking at the time-weighted return (15.91%), we can see that Syfe REIT+ 100% is underperforming the indexes/benchmarks. The annualized return/XIRR is 5.92%. Using the Rule of 72, it means that the Syfe portfolio will double our money in 72 / 5.92 ~ 12.2 years. In comparison, the same money if left in the bank account at 2% interest rate will take 72 / 2 ~ 36 years to double. If we were to look at the projected dividends till the end of the year based on the existing investment, we can expect $530.60 of dividends or $44.22 per month. Since the dividends >> fees, this is a pretty sustainable portfolio assuming if there's no capital loss.

New Syfe customers will have their first $30,000 managed free for 6 months when they use our new referral code (KPOCZM). We will be receiving a $10 cash incentive for our portfolio if you invest $500 or more on your first deposit.

If you are interested in the smart portfolio tracker (StocksCafe) which I am using as shown above, sign up using my link for a longer trial period :) Refer to our Referrals page for more information.

You might be interested in previous months update too:
Syfe REIT+ (100%) Review
Syfe - December 2020 - $13,129.55
Syfe - January 2021 - $14,748.08
- Syfe - February 2021 - $15,531.26

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  1. Any reason why is the returns drastically lower than the indexs or benchmark? Really does not make sense if this is equity play and equity has been booming!

    1. Hi ben,

      The last few weeks STI recovered quite a bit, just look at the price of our 3 banks, already back to pre-covid level. The thing is it is almost impossible to consistently beat the indexes, some year the portfolio can be better, some worst off. That is why there's index investing. For the REIT+ portfolio, it is more of dividend investing. In addition, it is just US or maybe other countries equity that is booming, SG has always been pretty safe/boring. lol.