I am a tax resident of Singapore now but have funds/bank account in Canada as I previously lived there.
I am planning to purchase the following ETFs through interactive brokers from the Canadian TSX and Singaporean SGX.
This is a passive all weather / seasons portfolio I developed based mostly on Ray Dalio/Bridgewater. However I have modified it, adding REITS and TIPS as is encouraged by David Swensen (Yale Endowment Model).
I would appreciate any feedback on this portfolio on how it could be optimized, improved or more tax efficient.
I am planning to buy Canadian bonds because they I do not need to pay any tax on the interest I earn on them as a non resident. Also I will avoid having fees on conversion of currency and will also help diversify my portfolio.
I did not plan to hold many US based stocks or bonds because there are withholding taxes I would have to pay.
15% - TSX - ZRR - BMO Real Return Bond (intermediate maturity).
15% - TSX- XLB iShares Core Canadian Long Term Bond Index ETF (average maturity 22 years) (Should have more international long term bonds)
8% - SGX - ABF - ABF Singapore Bond Index ETF (Duration 7 years maturity)
Expense ratio 0.25% (Should ladder bonds myself for less expense ratio?)
7% - TSX - VBG - Vanguard - Global ex-U.S. Aggregate Bond Index ETF Developed market (Average 8 years maturity)
- Japan, France, Germany, UK. 0.35% expense ratio. (Do I get taxed on this, because it is not Canadian government/companies?)
5% SGX - N6M - BRJP.SI - iShares J.P. Morgan USD Asia Credit Bond Index - Emerging markets 45% more than 7 years maturity
- India, Indonesia, Hong Kong, Philipines, South Korea, Malaysia, China, Thailand 45% government bonds
Management fee 0.3% Yield 5.65 (Underperformed bench mark by 0.1%?)
25% Developed World (15% USA, 5% Europe, 5% other) SGX - H1P LWLD.SI - Lyxor ETF MSCI World MSCI WorldNet Total Return Index
(60% USA, 9% japan, 7% UK, 4% Germany, 4% Switzerland, 4% France, 3% Canada, 3% Australia)
(Apple, Microsoft, Johnson&Johnson, Exxon) (Should look to add value index but could not find on SGX)
5% Emerging Market SGX - H1N LLEM.SI- Lyxor ETF MSCI Emerging Markets Lyxor ETF MSCI Emerging Markets MER 0.55%
(20% china, 15% Korea, 12% Taiwan, 9% India, 8% Brazil, 6% South Africa, 5% HK, 4% mexico, 3% russia)
(Samsung, Tencent, Alibaba, China Construction Bank, Baidu),
3% SGX- REIT - CFA NIKK.SI NikkoAM- Asia ex Japan - AXJREIT 0.5% MER
(60% Singapore, 23% HK, 8% China, 6% Malaysia)(45% Office/Industry 40% retail)
(No taxes on Singapore reits)
2% SGX- REIT - BYI PHIL.SI - Phillip APAC Dividend Leaders - PAREIT SP 0.3% MER
(60% Australia, 30% Singapore, 10% Hong Kong) (47% retail, 15% industrial)
4% TSX - CGR - REIT - iShares Global Real Estate Index ETF - 0.7% MER
(54% USA, 10% HK, 9% Japan, 7% Australia, 5% Germany, 4% France, 4% UK)
1% TSX - VRE - Vanguard FTSE Canadian Capped REIT Index ETF 0.38% MER
(100% Canada) (Tax efficient REIT ETF?)
SGX- O87 SGLD.SI - SPDR® Gold Shares management cost 0.4%
(If buy Ishares Gold ETF on NYSE management cost is 0.22%
ASX - PMGOLD 0.15% management fee ) (Should look at how to buy real physical gold)
SGX - A0W LCRB.SI - Lyxor ETF Commodities CRB - Expense Ratio 0.35% (Already has 6% in gold: Therefore should take 0.5% away from gold ETF)
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