Frequently Asked Questions

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Unit Trusts

Selling Unit Trust Holdings

1. How do I sell my unit trust holdings?
2. Is there a fee involved?
3. How will I know that the order was successful?
4. How much of a unit trust investment can I sell?
5. How long does it take for my order to be executed?
6. How will I receive the proceeds?
7. Can I cancel my order?

Question1: How do I sell my unit trust holdings?
Answer: Log into your account. Click "Unit Trust" and select "UT Portfolio". Select the fund, click "Redeem" and indicate the number of units to be sold (or select "full redemption" to sell all holdings of that fund). Submit the order.

Question2: Is there a fee involved?
Answer: Some fund managers impose an exit fee if the fund has been held for less than a specified period. However, finatiQ does not impose a redemption fee. Please check the online fund details or fund prospectus for more information.

Question3: How will I know that the order was successful?
Answer:

An acknowledgement screen with a Transaction ID will appear upon submission of order. You can monitor the status under the "Outstanding Orders" menu. The transaction will be placed under "Orders Awaiting Price Confirmation" until it has been priced by the fund house. Once your order is priced (usually within 2 working days), you will receive an email from finatiQ confirming the dealing price and proceeds from the sale. The transaction will then be moved to "Orders Awaiting Settlement" under the "Outstanding Orders" menu where it will remain until it is settled (usually within seven working days from pricing for cash transactions and fourteen working days from pricing for CPF/SRS transactions).

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

Question4: How much of a unit trust investment can I sell?
Answer: This is subject to the respective fund's minimum redemption amount as well as the minimum holdings that must remain in the fund after a partial redemption is done. Please make reference to the individual Fund prospectus for more information.

Question5: How long does it take for my order to be executed?
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 finatiQ with details of the transaction within 2 working days after your order has been processed.

Question6: How will I receive the proceeds?
Answer: For investments using cash, the proceeds will be credited directly into your Investment Account. For redemption of CPFIS-OA investments, the proceeds will be credited to your CPF Investment Account held with the agent bank. You will need to contact your CPF Investment account agent bank thereafter to give instructions to transfer the funds back to your CPF-OA. For redemption of CPFIS-SA investments, the proceeds will be credited to your CPF Special Account. For investments using SRS, the proceeds will be credited to your SRS account held with your appointed SRS Operator.

Question7: Can I cancel my order?
Answer: Contact finatiQ at least an hour before the fund's cut-off time. The order cannot be cancelled once it has been submitted to the fund manager. To cancel an order, you must call our Client Contact Officers at (65) 6438 3883. There is no online facility available for cancelling orders.

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