KEY HIGHLIGHTS Endowus’ 2020 CPF portfolios returned 15.7% for 100% equities, and 6.7% for 100% fixed income, outperforming the average returns of CPFIS-included funds by 2.2% and 0.4%, respectively.Cumulative returns from 2018 to 2020 for Endowus CPF portfolios were 35.6% for 100% equities, and 13.4% for 100% fixed income.* For equities, this represents outperformance of 14.8% cumulatively (4.2% outperformance on an  annualised basis), driven by Endowus’ exclusive access to Vanguard-managed low cost passive funds that track the S&P 500, and MSCI World indices.Endowus is the first and only digital advisor for the CPF Investment Scheme (CPFIS), bringing the CPF investment experience 100% seamlessly online. The diversified, passive, strategic asset allocation has proven to generate strong and stable long-term performance. *Note: Endowus CPF Portfolios were available from Oct 2019. In order to show performance of the portfolio prior, we use the returns history of the same unit trusts or best proxy...