Frequently Asked Questions

Search:

You’re in: Home » Frequently Asked Questions

Unit Trusts

Switching Investments within a unit trust family

1. How do I perform a switch within the same fund family?
2. How will a switch affect the holdings in my Investment Account?
3. How would I know that my request for a switch is successful?
4. How do I know whether I meet the minimum holding requirements after a switch?
5. How long does it take for the switch to take effect?
6. How can I cancel my request for switching?

Question1: How do I perform a switch within the same fund family?
Answer:

Log into your account, click "Unit Trust", followed by "Unit trust transaction" and "Switch". The system will list the funds that are eligible for switching. Select your choice of fund to switch into and indicate the number of units to be switched. Submit your switching order.

Take note that the same source of funds has to be used for switches (i.e., if you invested in ABC fund using CPF-OA monies, the fund you switch to must be included under CPF Investment Scheme as well.)

Question2: How will a switch affect the holdings in my Investment Account?
Answer: Your Investment Account is unaffected by a switch of funds. Fees for switching, if any, are deducted from the proceeds of the fund switched from. The balance of the proceeds is then invested into the fund switched into.

Question3: How would I know that my request for a switch is 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 manager. Once the order is priced (usually within 2 working days), you will receive an email from finatiQ confirming the dealing price for both funds and the number of units received in the new fund. 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 two working days from pricing). Switching of funds invested using CPF and SRS monies may take longer and the final confirmation will come from the fund manager. For such transactions, the dealing price and units reflected are indicative only.

Question4: How do I know whether I meet the minimum holding requirements after a switch?
Answer: Minimum holding requirements apply for all funds and are stated in the respective fund's prospectus. If switching is attempted with insufficient units left after the switch, the switching request will be rejected.

Question5: How long does it take for the switch to take effect?
Answer: The process is completed within two working days

Question6: How can I cancel my request for switching?
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 1800 438 3883 or (+65) 6438 3883 (from overseas). There is no online facility available for cancelling orders.

© Copyright 2004 - 2008 finatiQ. All rights reserved.
Read our privacy policy, legal notice and copyright information / terms & conditions before browsing.
Bank of Singapore Limited is an exempt financial adviser and is authorised to provide advisory services on life insurance and collective investment scheme under the Financial Advisers Act.
Co.Reg.No.: 195400071R