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You can get the most updated valuation of your investments after logging into our website. If you do not have online access, your adviser will be able to provide this for you.
Before selling your investments, we strongly recommend that you speak to your wealth adviser. Before creating a sell transaction, they will need to know the funds you wish to withdraw from and how many units you want us to sell in each fund. The redemption proceeds will depend on market valuations, and will be paid to you in the form of a cheque. You may request for us to do a Quick Cheque Deposit (QCD) on your behalf by providing us with your bank account details.
You can transfer your unit trust investments from other banks and platforms to us without having to liquidate them as long as we carry the same funds with the same share classes. This means that you will not suffer market risks. Your adviser will be able to advise you on the paperwork required.
Yes, we will send you a quarterly statement in January, April, July and October, that will provide you with a valuation of your investments. It will also show any income that you have received during the statement period. We will also send you a confirmation/contract note whenever a transaction has taken place. You can choose to receive this statement electronically or by mail.
You will still be able to keep your investments, and you will be able to transact online. However, you are not eligible to maintain your account if you are staying in the US or Canada. If you move abroad, please contact your adviser to check if you are still eligible to continue investing.
'Forward pricing' refers to the way that fund managers revalue funds and set the unit prices after all the buy and sell instructions for the day have been received. This means that you will not know in advance the price you will get for the units in a fund. Because of forward pricing, if you ask your adviser to raise a set amount of money from a sale, they will have to estimate how many units to sell. That means they may raise more or less than the amount you asked for. After your transaction has been executed, we will send you a Confirmation Note showing how many units have been bought; in the case of a sale of units, the Confirmation Note will also contain details on the price and the amount of money from the sale transaction.
You should write and notify that person's adviser, who should then notify us. Alternatively, you can write in or email to us and we will then confirm if any additional documentation is required.
iFAST Financial Pte Ltd is licensed by the Monetary Authority of Singapore (MAS) to provide custodial services for unit trusts and Singapore Government Securities (SGS). The provision of custodial services includes the safeguard and administration of client assets. In doing so, iFAST Financial Pte Ltd is subjected to stringent regulatory requirements, with duties such as:
- Keeping clients' securities and monies segregated from the company's;
- Handling of clients' securities and monies received; and
- Provision of contract notes and account statements.
Your securities and monies will be kept in our client trust accounts, which are used to facilitate transactions with the fund houses. We have in place strict policies and procedures including risk management, internal audit and compliance, to provide a safe and reliable transaction platform for you.
You should notify your adviser of the changes. Your adviser will then notify us. Alternatively, you can walk in to our office to make the changes.Change of address
Your adviser will verify and provide us with details of your new address. A copy of your NRIC is required. Alternatively, you can update your address online. If your mailing address differs from your residential address, please state the reason and submit a proof of address such as a bank statement or an utility bill, with your mailing address stated on it.Change of bank details
To change your bank details, notify your adviser, who will then update us.Change of name
A copy of your NRIC is required for this.
Yes, we are a business-to-business company, so you need an adviser to use all the tools and services that we offer.
iFAST Financial is a CPFIS Registered Investment Administrator (IA). Investing your monies through an IA platform like iFAST reaps benefits for you at three levels:1) Substantial savings in CPF Agent Bank charges
If you are currently investing through a non-IA platform, each fund house whose funds you purchased will individually and separately request monies from your CPF agent bank. This incurs CPF agent bank charges for each fund that you buy. These charges can rack up to a significant amount. More importantly, these charges erode your returns.
As an IA platform, iFAST is able to draw a consolidated amount directly from your CPF agent bank for all your investments. On iFAST, you are charged the lowest fee no matter how many funds you buy.2) Fewer statements
When you invest through a Non-IA platform, you will receive product statements from your agent bank, fund house and fund distributor. At iFAST, you will receive one consolidated statement.3) Faster completion time
The completion time for CPF transactions is cut by 50% through an IA like iFAST.
Summary of agent bank charges:
|Type of Transaction||Non-IA Account||IA Account|
|Per Buy Transaction||*$2.50 per 1,000 units or part thereof, subject to a maximum of $25 per fund||$2.50 regardless of number of units and number of funds|
|Per Sell Transaction||*$2.50 per 1,000 units or part thereof, subject to a maximum of $25 per fund||$2.50 regardless of number of units and number of funds|
|Per fund switch (this involves a sell transaction followed by a buy transaction)||*$2.50 per 1,000 units or part thereof, subject to a maximum of $25 per fund + *$2.50 per 1,000 units or part thereof, subject to a maximum of $25 per fund||No agent bank charges incurred|
|Quarterly service charge||*$2.00 per fund||$2.00 regardless of number of funds|
*Based on the average agent bank charges