Frequently Asked Questions

Unit Trust

What are the Fees and Charges?

There are ZERO transaction fees (e.g. no sales charge, switching fees) and ZERO ongoing fees (e.g. no platform fees) when you transact Unit Trust online via POEMS. Learn more about zero fees .

We understand that some of our customers value the convenience of investing anytime and anywhere online through POEMS. However, we also understand that some customers prefer having face-to-face meetings with an advisor to provide them financial advisory services and/or monitor their portfolios. Hence apart from POEMS online, we also have our offline services to provide these financial advisory services to those who need it. A fee may be levied as these advisors are able to provide professional advice that is tailored for your individual investment needs.

How do I transfer-in my holdings maintained with other distributors or banks?

You may transfer in your holdings to enjoy ZERO transaction fees (e.g. no sales charge, switching fees) and ZERO ongoing fees (e.g. no platform fees) when you transact Unit Trust online via POEMS.

Also, be rewarded up to $1,000* when you transfer in your holdings to us!

For more information regarding transfers-in, please refer to our Transfer-in page.

How do I opt-in for SMART Park/Money Market Fund (Excess Funds Facility)?

Phillip’s Excess Funds Management Facility, also known as SMART Park, allows you to park your money while waiting for investment opportunities. The excess funds will be invested on a discretionary basis into Phillip Money Market Fund.

Opt-In on POEMS

If you would like to opt-in online using another device, kindly follow this path to opt-in:
Login -> Acct Mgmt (Account Management tab) -> Stocks tab -> Online Forms -> Excess Fund Authorization

Alternatively, you may contact your Financial Advisor or our call centre at 6531 1555 for more assistance.

What is Customer Knowledge Assessment (CKA) and how does it affect me?

CKA is a mandatory declaration if you wish to invest unit trust online through POEMS. Starting 1st January 2012, the Monetary Authority of Singapore (MAS) has made it compulsory for distributors to document your declaration on having the relevant knowledge or experience in understanding the risks and features of Unit Trusts.

Find out more about CKA.

Who can invest in unit trusts?

An individual who is:

  • Above 18 years of age; and
  • Non-U.S. Citizens and non-U.S. Residents

Is eligible to invest in unit trusts.

How are the Performance Returns and Annualised Performance Returns of funds derived?

Performance Returns are derived based on the past NAV of the fund. It expresses the total returns you would have achieved on your principal investment had you been invested in the fund for that period of time.

For example, the 3 Year Return of a fund will be derived from the difference between the latest NAV and the NAV of the fund 3 years ago. If the latest NAV of a fund is SGD1.848 and the NAV of the same fund 3 years ago is SGD1.725, then the Performance Return is:

This means that the total returns you would have gained on your principal investment, had you been invested since 3 years ago, is 7.13%.

The Annualised Performance Returns expresses the annualised (yearly) returns on your principal investment had you been invested in the fund for that period of time. It only applies for periods of more than 1 year (i.e. there is no annualised performance return for periods of 1 week, 1 month, 3 months etc.)

What is the meaning of (Acc) or (Dis) which is sometimes seen in the names of some funds?

“Acc” and “Dis” are abbreviations of the words “Accumulation” and “Distribution”, which denote classes of the fund.

Accumulation funds do not distribute dividends. Instead, all income and interest attributable to this Class will be accumulated and reflected in the price (NAV) of the units of the Class.

Distribution funds distribute dividends either by cash payout or by reinvesting back into the fund. For transactions with Phillip, where distributions are in the form of cash, they will be re-invested to the same fund by default. The dividends will be reinvested in the form of additional units in your relevant holdings.

If you prefer to have your dividends paid out in cash, you may choose the dividend payout option in POEMS 2.0 when you subscribe for the fund online. If you do not wish to transact through POEMS 2.0 or wish to change your existing dividend options, please fill in this form.
Dividend Instruction Form U61

For more questions on dividends, please see the below FAQ section “Dividends”.

How do I make payment for my unit trust purchases?

There are 3 ways in which you can make a payment:

  1. Via bank ATM/internet banking facility:
    • Electronic Payment for Shares (EPS) – Lump Sum Payment
      (preferred option); or
    • GIRO , if you have applied for it. (Not applicable for Cash Management Accounts)
  2. Via cheque payment:
    • Send us a cheque with payee "Phillip Securities Pte Ltd (PSPL)"; or
    • Cheque deposit is available at Phillip Investor Centres from Monday to Friday, 9.00am to 6.00pm (except public holidays). For same day processing, please drop your cheques at the designated box on 6th floor @ Raffles City Tower by 3pm
  3. Via Bank Internet Banking service:
    • Make payment via the Bill Payment function
      • Participating banks: POSB/DBS, UOB, OCBC, MayBank, Standard Chartered Bank, Citibank
      • Simply enter the full 7 digits of your trading account number.
        If your account has less than 7 digits, please enter the relevant number of zeros before your account number e.g. trading account
        “12345” to be entered as “0012345”

      Note: It usually takes 2-3 working days for us to receive your payment. For Citibank bill payment, it will take 5-7 working days.

*Note:

  • EPS - Lump Sum Payment should be done by 9pm on T (Transaction) day.
  • For existing DBS/POSB GIRO applicants with Phillip Securities, deduction will be carried out on T + 1 day after 3.00 pm.
  • Online Bill Payment via internet banking should be performed on T day.
  • All cheques must be deposited at the designated cheque collection box latest by 3pm on T+2 day.
  • Investment Account (Margin/Custodian/PCMA) customers should ensure that there are sufficient funds in their accounts before submitting orders.
  • Before the use of CPF-OA money to trade, please ensure that a standing instruction with your CPF investment bank is signed and CPF Investment account Number submitted to Phillip Securities.
  • Phillip Securities Pte Ltd reserve the right to force sell any outstanding purchases. Any losses incurred shall be borne by customers

When will my unit trust orders be transacted?

The cut-off time is 3pm on standard dealing days. If your order is submitted after 3pm or submitted on a non-dealing day (e.g. fund holiday, public holiday), the order will be processed on the next dealing day. Examples of non-dealing days include weekends and public holidays of the fund’s country of origin.

Since price (NAV) displayed is for the last dealing date, what is the NAV on the date that I have transacted?

Net Asset Value is the market value of the fund’s total assets, plus income, less expenses.

Since the NAV of a fund needs to be calculated, it will be announced by the fund houses after 2 dealing days. Hence the NAV displayed is always back dated. The NAV at which you have transacted will be made known to you within 2 dealing days.

When will I receive my money after I have sold my unit trust holdings?

For cash holdings, settlement will be up to T + 7 business days.
For CPF/SRS (IA Status) holdings, settlement will be T + 5 business days.

Will I receive dividends?

Some funds distribute dividends while some funds do not. Funds that distribute dividends either do so in cash value or units. Dividends issued in cash value can be paid out and credited to your account.* If you do not opt for a payout option, the dividends will be re-invested by default.

Dividends that are issued in units will not be received in cash. In this situation, if you require a cash payout, you may sell some or all of these units depending on your requirements.

The declaration of distribution is at the sole discretion of the Fund Manager and is not guaranteed.

* If you opt for the dividend payout option, dividends will be credited according to the fund source of the investment. For example, paid out dividends for investments under the CPFIS will be credited back to your CPF account.

When will I receive dividends?

If a fund declares dividends, there will be a cut-off date (i.e. the “Ex-Date”) where all units purchased on or before the date will be entitled to the dividends. The dividends will then be processed by the fund house on or after the “Payment Date” which is usually after the Ex-Date.

If you have opted for the dividend payout option for distribution class cash funds, dividends will be credited into your Phillip account about 10 working days from the Payment Date announced by the fund house.

If your dividends are to be reinvested, the dividend amount will be used to purchase more units of the existing fund, at the NAV of the fund on the Ex-Date.

What is CPF Investment Scheme (CPFIS)?

The CPF Investment Scheme (CPFIS) allows CPF members to invest part of their CPF-OA, SA and/or SRS savings into Unit Trusts.

To invest with CPF-OA or SRS, simply open a CPF/SRS Investment Account with one of the 3 CPF agent banks (DBS/POSB, UOB, or OCBC).

Note: If you want to invest only the monies in your CPF Special Account (CPF-SA), you are not required to open a CPF Investment Account.

What is Supplementary Retirement Scheme (SRS)?

The Supplementary Retirement Scheme otherwise known as the SRS is a voluntary scheme that encourages savings on top of the mandatory CPF amount. The SRS contributions are tax exempted and upon withdrawal after retirement, only 50% of the withdrawn amount is taxable.

SRS members may also invest their SRS savings into investments such as Unit Trusts.

What is a CPF Investment Administrator (CPFIA)?

If you use your CPF account to purchase funds from different fund houses (i.e. non-CPF Investment Administrator), you will incur CPF agent bank charges for each transaction. A CPF Investment Administrator is able to collate your purchases of funds from different fund houses and submit them to CPF collectively. In this case, you will only need to pay for one transaction each time, no matter how many fund houses you purchase from.

Phillip Securities Pte Ltd is a CPF Investment Administrator and we are able to collate your CPF instructions.

Can a CPF investment be converted into a Cash investment?

Below retirement age, a CPF investment cannot be converted into a cash investment. It can only be converted when an investor reaches retirement age and has met the CPF minimum required sum set aside.

What is CPFIS Self-Awareness Questionnaire (SAQ)?

Under enhancements announced by the government in March 2018, the CPF Board has introduced a Self-Awareness Questionnaire (SAQ) as part of the process in opening CPFIS accounts from 1st October 2018. The SAQ is to help CPF members decide whether CPFIS is suitable for them by providing them with feedback on their financial knowledge.

Members can participate in the CPFIS after taking the SAQ, regardless of the results. CPF members who already have a CPFIS account are not required to, but are still strongly encouraged to take the SAQ.

For more details, please refer to the notice .

How can I trade Unit Trust Funds online?

You may trade Unit Trusts online anytime, anywhere through POEMS 2.0 and/or POEMS Mobile 2.0.

Please view the tutorials here.

What is a Unit Trust Regular Savings Plan (RSP)?

Unit Trust RSP is an investment plan that offers a consistent and disciplined means of investing into a particular fund.

It adopts the concept of dollar cost averaging whereby more units are bought when prices are low and lesser units when prices are high. As a result, in times of fluctuating markets, the average cost for all the units can be lower than the average price during the same period.

Find out more about Unit Trust RSP 

How do I apply for Unit Trust RSP and when will my Unit Trust RSP be effective?

You can apply online via POEMS or visit any of our Phillip Investor Centres.

For online applications via POEMS, kindly follow these steps:

Login to POEMS > Acct Mgmt > Regular Savings Plan (RSP) > Unit Trust RSP > Investment Instruction > Apply Plan

For new Unit Trust RSP application, the plan will commence only when the GIRO Linkage Application has been received by Phillip Securities Pte Ltd (PSPL), and approved by the respective banks. For non-cash RSP, there must be CPFOA/SA/SRS details tagged to your account.

Note: Applications received will take up to 30 business days to come into effect.

How do I apply for GIRO?

You can download and complete the GIRO form via the link below and mail to us using the business reply envelope below. Alternatively, you can submit to any of our Phillip Investor Centres for assistance.

GIRO Form

Business Reply Envelope

How long will it take for my GIRO linkage to be approved?

GIRO linkage is subjected to the respective banks’ processing timeline which is approximately three to six weeks after you have submitted your GIRO application.

How will I be informed of the status of my Unit Trust RSP GIRO application?

You will be notified by the bank first when your GIRO is approved.  A letter will then be sent to your mailing address after we have received the status of your GIRO linkage from the bank.

Additionally, you can login to POEMS to check your status via Acct Mgmt > Regular Savings Plan (RSP) > Unit Trust RSP > Investment Instruction.

How can I start my Unit Trust RSP first while my GIRO linkage is pending for approval?

You may prefund to kick start your Unit Trust RSP while pending the GIRO Linkage approval via the prepayment option.

You can seek assistance from your servicing representative or visit any of our Phillip Investor Centres for the arrangement.

Is an initial investment required before I can subscribe to Unit Trust RSP?

Some funds require an initial investment before you can subscribe to Unit Trust RSP. Whether a fund requires initial investment will be stated in the fund information.

When will the Unit Trust RSP investment amount be deducted?

Unit Trust RSP subscription will be on the 7th (T-day) calendar day of the month, if the 7th falls on a weekend or public holiday, it will be on the next business day.

Deduction details as follow:

  •         For Cash investment, money will be deducted from your bank account on T-3 day, depending on bank processing timeline
  •         For CPF/SRS investment, money will be deducted from your CPF account/SRS agent bank on T-1 day.

Please ensure that you have sufficient funds in your account before the deduction date (T-3) to prevent failed deductions.

A failed GIRO deduction fee may be imposed to your account by your bank. You may reach out to your bank should you require further clarification.

What will happen if I have insufficient money in my bank/CPF account for GIRO deductions for RSP?

If there is an insufficient amount in your bank/CPF account, GIRO deduction would be unsuccessful and there will be no Unit Trust RSP investment for that month.

For  Unit Trust RSP via cash, there will be no penalty. However, your Unit Trust RSP will be terminated after 3 consecutive months of unsuccessful deductions.

For  Unit Trust RSP via CPF, a penalty charge may be imposed by the CPF bank. Your Unit Trust RSP will be terminated after 3 consecutive months of unsuccessful deductions.

Please ensure that you have sufficient funds in your account before the deduction date (T-3) to prevent failed deduction.

A failed GIRO deduction fee may be imposed to your account by your bank. Please reach out to your bank should you require further clarification.

What will happen to my unit holdings after my Unit Trust RSP GIRO payments have been stopped?

If your holdings are at or above the minimum holding amount or minimum units required by the Fund Manager, your holdings will remain unchanged. You may retain them as a long-term investment.

If your holdings are below the minimum holding amount or minimum units required by the Fund Manager, you will be requested to redeem your holdings. If you wish to retain your holdings in this case, you may purchase more units to fulfil the minimum holding amount or minimum units and continue your investment.

Can my Unit Trust RSP be settled in non-SGD currency?

Unit Trust RSP can only be settled in SGD currency. You can apply for the available non-SGD funds for Unit Trust RSP but the investment currency will only be in SGD.

What are the Sales Charges for Unit Trust RSP?

There is 0% sales charge when you apply via POEMS. However, charges may apply if you are seeking for advisory services on Unit Trust RSP from your Financial Adviser Representative.

Is there any lock-in period for Unit Trust RSP?

There is no lock-in period for Unit Trust RSP.

How do I make amendments on my Unit Trust RSP?

Amendment of investment instruction(s) such as change of funds (including increasing or reducing the fund to invest), investment amount, fund source or frequency can be done via POEMS or physical form. No charges will be imposed for any changes made.

a. Amendment(s) via POEMS:

Login to POEMS > Acct Mgmt > Regular Savings Plan (RSP) > Unit Trust RSP > Investment Instruction > Amend

Please note that amendment(s) made via POEMS will not be reflected immediately. The updated investment instruction will be reflected after it has been processed. Instructions received via POEMS will take up to 30 business days to come into effect.

 

b. Amendment(s) via Physical Form

Kindly seek assistance from your Financial Adviser Representative or visit any of our Phillip Investor Centres to complete the form submission.

Form submissions received will take up to 30 business days to come into effect.

 

Note:

Some funds will require a minimum initial investment. For such funds, you must have lumpsum holdings prior to the application or amendment of the Unit Trust RSP. Otherwise, your application or amendment for the Unit Trust RSP may be rejected.

When will my Unit Trust RSP amendments and/or terminations be effective?

All RSP amendment and termination submissions (via POEMS or physical forms) will take up to 30 business days to come into effect.

How can I terminate my Unit Trust RSP?

You may terminate your Unit Trust RSP as follows:

a. Partial Termination (Amendment)

Partial termination of Unit Trust RSP is termed as Amendment. For amendment, you may submit online via POEMS 2.0/Mobile or physical form.

b. Full termination

If you would like to have a full termination of all the Unit Trust RSPs, you are required to submit the physical termination form with the assistance from the respective Financial Adviser Representative or visit any of our Phillip Investor Centres.

All RSP amendments/terminations will take up to 30 business days to come into effect. 

Will my Unit Trust RSP be terminated automatically when I make a full redemption of my holdings?

Your Unit Trust RSP will not be terminated when full redemption is made on the particular fund(s).  

You will have to submit the amendment/termination via POEMS 2.0, Mobile or physical form after redemption as specified in the question above (How can I terminate my Unit Trust RSP?).

All submission of RSP amendments/terminations will take up to 30 business days to come into effect.

What will happen if my Unit Trust RSP fund is temporarily suspended or closed to subscriptions?

If the fund is temporarily suspended or closed for subscriptions, your subsequent Unit Trust RSP will be stopped until the fund is open for subscription.

If the fund has been suspended or closed to subscriptions indefinitely, your Unit Trust RSP will be terminated. Your existing holdings will remain unchanged unless the fund is to be closed.

Who can I contact if I would like to enquire about Unit Trust or Unit Trust RSP matters?

If you have any enquiries, please contact us at 6531 1555 or email us at unittrust@phillip.com.sg.