Frequently Asked Questions

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Unit Trusts

Buying Unit Trusts

1. How do I buy a unit trust?
2. How do I pay for my unit trust purchases?
3. How do I buy unit trusts using the funds in my finatiQ Investment Account?
4. How do I buy unit trusts using my CPF monies?
5. If I have not chosen a CPF agent bank, can I choose finatiQ as my agent bank?
6. How do I buy unit trusts using my SRS monies?
7. If I don't have an SRS account, can I choose to open one with finatiQ?
8. How will I know that my purchase is successful?
9. How long does it take for the purchase to be processed?
10. How much is the initial sales charge and how is it calculated?
11. How do you compute the number of units purchased for a fund that uses bid/offer pricing?
12. How do you compute the number of units purchased if a fund uses NAV pricing?
13. Can I withdraw my purchase order?

Question1: How do I buy a unit trust?
Answer:

To buy a unit trust, you need to first open a finatiQ Investment Account. Click here for the FAQ on "Opening an Investment Account" to find out more. Once the account is activated, you can buy unit trusts online.

(i) For Initial Subscription
Upon successful login to your finatiQ account, at the left navigation bar, click "Unit Trust", select "UT Transact" and click on "Buy".

STEP 1: Search-A-Fund
- Select the fund that you wish to buy

STEP 2: Subscribe
- Select the appropriate Account Number
- Read the prospectus. Click on the checkbox to indicate you have read and understood the prospectus
- Key in the amount you wish to invest
- Click on the "IMPORTANT" hyperlink to read your rights to cancel the unit trust subscription
- Leave the field for "Promotion Code" blank
- Click the "Preview" button at the bottom of the page

STEP 3: Review & Submit
- Review the details that you have keyed in
- Click the "Submit" button at the bottom of the page

(ii) For Additional Subscription
- Click "Unit Trust " on the left navigation bar
- Select "UT Portfolio" and click on "Current Portfolio" to view your current unit trusts holdings
- Click on "Additional Subscription" on the right of the name of the fund for which you wish to buy additional units

Question2: How do I pay for my unit trust purchases?
Answer: You may invest in a unit trust using funds from your finatiQ Investment Account, CPF Ordinary Account, CPF Special Account or Supplementary Retirement Scheme (SRS) Account.

Question3: How do I buy unit trusts using the funds in my finatiQ Investment Account?
Answer:

To use funds from your Investment Account to buy unit trusts, you will need to ensure that there are sufficient funds in the account. Simply log in to your account, select the appropriate unit trust portfolio type and make your purchase selection.

Please log into your account, select the unit trust portfolio ending with '200' and your selected unit trust subscription.

Question4: How do I buy unit trusts using my CPF monies?
Answer:

To use funds from your CPF Ordinary Account and/or CPF Special Account to buy unit trusts, you must first set up your CPF Investment Scheme-Ordinary Account (CPFIS-OA) and CPF Investment Scheme-Special Account (CPFIS-SA) portfolios respectively.

Please log into your account to link your CPF Investment account and/or SRS account to your finatiQ account by selecting 'Others', 'Setup CPFIS' and/or 'Setup SRS'. Your accounts will be linked one working day after submission and you can start using your CPF/SRS monies to subscribe to unit trusts thereafter.

Alternatively, you may also set up the portfolios by completing the "CPFIS-OA, CPFSA & SRS Portfolio Request Form ". Please note that you need to submit a one-time CPF Standing Instruction Form to your agent bank for CPF Ordinary Account transactions if you have not already done so.

Question5: If I have not chosen a CPF agent bank, can I choose finatiQ as my agent bank?
Answer:

No, Singapore Island Bank(finatiQ's banking license) is not an approved CPF agent bank. There are 3 appointed CPF operators which you can open a CPF Investment account with, namely, DBS, UOB and OCBC.

You may also open a CPF Investment account with OCBC through finatiQ by clicking on this link http://www.finatiq.com/banking/Bnk_Acc_SRS.shtm

Please print out the application form and mail it in with the required supporting documents for processing.

Question6: How do I buy unit trusts using my SRS monies?
Answer: To use funds from your SRS account, you must first set up your SRS Portfolio by logging into your account or completing the required request form. (See Question/Answer 4 above)

If you already have an SRS Portfolio, you need to log into your finatiQ Investment Account and select "Unit Trust SRS" portfolio from the "Account Summary" page to buy your unit trust.

Please note that your SRS account is not directly linked to your finatiQ SRS portfolio. Therefore, prior to buying any unit trust, you should ensure sufficient funds in your SRS account with the Operator to avoid unsuccessful transactions and penalty fees.

Question7: If I don't have an SRS account, can I choose to open one with finatiQ?
Answer: There are only three appointed SRS Operators which you can open an SRS account with. These are namely: DBS, UOB and OCBC. You may open an SRS account with OCBC through finatiQ.

You may also open an SRS account with OCBC through finatiQ by clicking on this link http://www.finatiq.com/banking/Bnk_Acc_SRS.shtm

Please print out the application form and mail it in with the required supporting documents for processing.

Question8: How will I know that my purchase is successful?
Answer:

Upon submission of your order, you will see an acknowledgement screen with a Reference No. Write down the Reference No. or print the screen for your records. Immediately after submitting your order, you can monitor the status under "Unit Trust-UT Portfolio-Order Status". You will find your transaction under "Orders Awaiting Price Confirmation" until it has been priced by the fund house. Once your order is priced (usually 2 working days later), you will receive an email from finatiQ confirming the dealing price and number of units you have purchased. Your transaction will then be moved to the "Orders Awaiting Settlement" screen under the "Order Status" where it will remain until it is settled (usually about five days from pricing for cash transactions and fourteen days from pricing for CPF and SRS transactions).

For CPF and SRS transactions, the dealing price and units reflected are indicative only. The fund manager will advise you when your transaction is confirmed upon successful deduction of funds from your CPF account or SRS account, as the case may be.

Question9: How long does it take for the purchase to be processed?
Answer: This is dependent on the time of your order. Your order will be processed immediately if it is submitted before the fund's cut-off time. Orders submitted after the cut-off time will be processed the next dealing day. Please check the Fund Details page of the respective fund as the cut-off times vary for different funds. You will receive an email from us with details of the transaction within 2 working days after your order has been processed.

Question10: How much is the initial sales charge and how is it calculated?
Answer:

The sales charge for different funds vary. They are stated in the Fund Details page of each fund. Please make reference to the individual Fund prospectus for more information. finatiQ offers 50% discount off the initial sales charge for most funds.

Initial sales charges are calculated according to the pricing scheme of the fund. For funds using Net Asset Value (NAV) pricing, the initial sales charge will be deducted from the investment amount. For funds using bid/offer pricing, the initial sales charge is factored into the offer price.

Question11: How do you compute the number of units purchased for a fund that uses bid/offer pricing?
Answer: Here is an example to illustrate the computation. Let's assume Mr Tan invests $1000 into ABC fund. Assume ABC fund is traded at bid/offer price of $0.95/$1.00.

If the initial sales charge* is 5%, what is the number of units allocated to Mr Tan?

Units Allocated	= Amount Invested/Offer Price
	= $1000 / $1.00
	= 1000 units

With finatiQ's 2.5% discount on the initial sales charge, what is the number of units allocated to Mr Tan?

Units Allocated	= Amount Invested/Offer Price (incorporating 2.5% discount)
	= $1000/$0.975 (i.e., $1.00 less 2.5%)
	= 1025.64 units

* Sales charge is already factored into the offer price.

Question12: How do you compute the number of units purchased if a fund uses NAV pricing?
Answer: This is another example that will help to illustrate the computation. Let's assume Mr Tan invests $1000 into ABC fund. Assume ABC fund is traded at NAV of $1.00.

If the initial sales charge is 5%, what is the number of units allocated to Mr Tan?

Units Allocated	= Amount Invested (less 5%)/Offer Price
	= $950/$1.00
	= 950 units

With finatiQ's 2.5% discount on the initial sales charge, what is the number of units allocated to Mr Tan?

Units Allocated	= Amount Invested (less 2.5%)/Offer Price
	= $975/$1.00
	= 975 units

Question13: Can I withdraw my purchase order?
Answer: You can withdraw a purchase order if you contact us at least an hour before the fund's cut-off time. Once the order has been submitted to the fund manager, you will be subject to the 7 days cancellation period set by MAS. To withdraw an order, you must call our Client Contact Officers at (65) 6438 3883. There is no online facility for withdrawing orders.

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