Cash Management Account
WHAT IS A PHILLIP CASH MANAGEMENT ACCOUNT (PCMA)?
Phillip Cash Management Account (PCMA) is an enhance trading account that allows you to perform trades and settlement for Shares, Unit trusts, Exchange Traded Funds (ETF), Treasury Bills or other investment products via POEMS and trading representative. PCMA also contains useful account management features that increase the convenience in trading.
MAIN FEATURES OF PCMA
Hassle-free Trade Settlement
PCMA is a ledger-based account that has the ability to hold money in the account at anytime. Clients will enjoy automatic deduction or crediting for trades done in Stocks, Unit Trusts, Treasury Bills and more, without having to worry about the possible delays in payment and receiving of the proceeds due to various reasons. Trade purchases will be settled as long as you have sufficient funds in the account; this applies to the crediting of the proceeds after a sale is done. There are no changes in the way you perform your trades and no minimum balance is required to be maintained in the trading account.
Excess Funds Management Facility
Through the Excess Funds Management Facility, clients will be able to earn returns through the excess fund parked into the trading account. In this manner your excess funds not used for trading are not left idling, instead it makes your money work harder for you. The excess funds will be invested on a discretionary basis into Money Market Funds. Currently, excess SGD funds will be invested in the Phillip Money Market Fund whereas excess USD funds will be invested in the Phillip USD Money Market Fund.
For more details on Excess Funds Management Facility click here.
Alternatively, if you do not opt in for the Excess funds Management Facility, the excess funds parked in the account are still interest bearing. All funds in the trading account is held in the Trust account.
For Singapore dollar placed in the account, interest rate is tiered based on:
| Amount | Interest Rate* |
| Less than S$50,000 | Nil |
| More than S$50,000 | 0.10% p.a. |
For foreign currencies placed in the account, interest rate is tiered based on:
| Amount | Interest Rate* |
| USD$, HKD$ and AUD$ Less than $50,000 | Nil |
| More than USD$50,000 | 0.15% p.a. |
| More than HKD$50,000 | 0.10% p.a. |
| More than AUD$50,000 | 1.50% p.a. |
| STYLE–> MYR, JPY & GBP, EUR & CAD are not interest bearing | |
*The above rates will take effect 12 Mar 2011
Multi-currency Facility
With this facility, you also have the option of maintaining foreign currency balances in your account for ease of trading and efficient management of your foreign currency denominated investments. With Multi-Currency facility clients can:
- Choose to maintain foreign currencies in the trading account
- Convert the money in the trading account into different currencies for settlement of their trades with the purpose of mitigating foreign currency risk
- Withdraw foreign currencies with no minimum holding amount required to be maintained in the account.
Auto adjustment of trading Limit
Trade up to the amount placed in the trading account. With this feature you need not request for an increase in trading limit. The trading limit will be the trading account assigned limit or the amount placed in the trading account, whichever is higher.
Online Transactional Records
Transactional records are archived up to 12 months (year to date) online. Clients can easily access to their settled transactions and checks their balances via POEMS. You need not have to search through your bank statements and try to reconcile the trades done against the amount received.
Paper statements will be sent to all clients to supplement the online transactional records. If you wish to opt-in to E-statements click here to find out more.
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This advertisement has not been reviewed by the Monetary Authority of Singapore.
IMPORTANT INFORMATION
This material is provided by Phillip Capital Management (S) Ltd (“PCM”) for general information only and does not constitute a recommendation, an offer to sell, or a solicitation of any offer to invest in any of the exchange-traded fund (“ETF”) or the unit trust (“Products”) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You should read the Prospectus and the accompanying Product Highlights Sheet (“PHS”) for key features, key risks and other important information of the Products and obtain advice from a financial adviser (“FA“) pursuant to a separate engagement before making a commitment to invest in the Products. In the event that you choose not to obtain advice from a FA, you should assess whether the Products are suitable for you before proceeding to invest. A copy of the Prospectus and PHS are available from PCM, any of its Participating Dealers (“PDs“) for the ETF, or any of its authorised distributors for the unit trust managed by PCM.
An ETF is not like a typical unit trust as the units of the ETF (the “Units“) are to be listed and traded like any share on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Listing on the SGX-ST does not guarantee a liquid market for the Units which may be traded at prices above or below its NAV or may be suspended or delisted. Investors may buy or sell the Units on SGX-ST when it is listed. Investors cannot create or redeem Units directly with PCM and have no rights to request PCM to redeem or purchase their Units. Creation and redemption of Units are through PDs if investors are clients of the PDs, who have no obligation to agree to create or redeem Units on behalf of any investor and may impose terms and conditions in connection with such creation or redemption orders. Please refer to the Prospectus of the ETF for more details.
Investments are subject to investment risks including the possible loss of the principal amount invested. The purchase of a unit in a fund is not the same as placing your money on deposit with a bank or deposit-taking company. There is no guarantee as to the amount of capital invested or return received. The value of the units and the income accruing to the units may fall or rise. Past performance is not necessarily indicative of the future or likely performance of the Products. There can be no assurance that investment objectives will be achieved.
Where applicable, fund(s) may invest in financial derivatives and/or participate in securities lending and repurchase transactions for the purpose of hedging and/or efficient portfolio management, subject to the relevant regulatory requirements. PCM reserves the discretion to determine if currency exposure should be hedged actively, passively or not at all, in the best interest of the Products.
The regular dividend distributions, out of either income and/or capital, are not guaranteed and subject to PCM’s discretion. Past payout yields and payments do not represent future payout yields and payments. Such dividend distributions will reduce the available capital for reinvestment and may result in an immediate decrease in the net asset value (“NAV”) of the Products. Please refer to <www.phillipfunds.com> for more information in relation to the dividend distributions.
The information provided herein may be obtained or compiled from public and/or third party sources that PCM has no reason to believe are unreliable. Any opinion or view herein is an expression of belief of the individual author or the indicated source (as applicable) only. PCM makes no representation or warranty that such information is accurate, complete, verified or should be relied upon as such. The information does not constitute, and should not be used as a substitute for tax, legal or investment advice.
The information herein are not for any person in any jurisdiction or country where such distribution or availability for use would contravene any applicable law or regulation or would subject PCM to any registration or licensing requirement in such jurisdiction or country. The Products is not offered to U.S. Persons. PhillipCapital Group of Companies, including PCM, their affiliates and/or their officers, directors and/or employees may own or have positions in the Products. Any member of the PhillipCapital Group of Companies may have acted upon or used the information, analyses and opinions herein before they have been published.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
Phillip Capital Management (S) Ltd (Co. Reg. No. 199905233W)
250 North Bridge Road #06-00, Raffles City Tower ,Singapore 179101
Tel: (65) 6230 8133 Fax: (65) 65383066 www.phillipfunds.com