$Fullerton SGD Cash Fund (SG9999005961.MF)$ Will withdraw o...
$Fullerton SGD Cash Fund (SG9999005961.MF)$ Will withdraw of funds from Fullerton SGD Cash Fund on Monday result in losing of interest for Sat and Sun as the interest for the weekend is only credited on Tuesday? Heard this before but not sure how true is it. Doesn't make sense redemption on Mon would result in losing of interest over the weekend. ![]()
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Demascus : I believe you will not receive the weekend interest if you redeem before 12pm on Monday. You should still receive the weekend interest if you redeem after 12pm.
TLim77 OP Demascus : Thanks for the reply. Any idea why we would not receive the interest since the funds should still be earning interest over the weekend? The interest can't just disappear into thin air.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
倚天屠龙 : ‘Cause Fullerton Fund Management Company updates the NAV of $Fullerton SGD Cash Fund (SG9999005961.MF)$ at https://www.fullertonfund.com/fund/fullerton-sgd-cash-fund-a once a day on a fund trading day.
Thus if you were to redeem your holdings of $Fullerton SGD Cash Fund (SG9999005961.MF)$ before the FLT SGD CF’s NAV is updated on Monday, you’ll be redeeming units at its NAV on the Friday _before_ the weekend. And as simple as logic can explain, this NAV does not include returns accrued over the weekend or any SG public holiday!
In addition, if you wish to receive the sale proceeds w the shortest turnaround time, your fund redemption request must be submitted to MM before 12 pm on a fund trading day [T]. Your MM account will receive the monies from the redemption before 12 pm on T + 1 day.
TLim77 OP 倚天屠龙 : Even though Nav has not yet been updated, our money was still in the fund during the weekend. They only start to process the actual withdrawal on Mon. That's the weird part
倚天屠龙 : First, you ought to understand FLT SGD CF is not a savings account — it does not bear interest nor is its current value as displayed in your MM app, derived from the amount of S$ you dump in less than the amount of S$ you withdraw, though you may see the value of your FLT SGD CF in a S$ value.
The current value of your investment in any fund is derived from two metrics: number of units held by your investment account multiplied by the prevailing NAV published on the valuation date.
The moment you subscribe to any mutual funds or unit trust, the distributor may drain your initial investment outlay in the form of a certain upfront sale charge which, in the case of MM, is zero. After which, the net sum of monies purchases a certain number of FLT SGD CF units at its latest NAV published before the time of your fund subscription request.
You should concern yourself with the number of units in your MM account, not the S$ value.
And as it is, MM does not provide accurate accounting of the number of units in the clients’ account statements it generates on days when there are transactions.
TLim77 OP 倚天屠龙 : Appreciate the detailed explanation.
Wish Moomoo could display the actual no of units we own.
倚天屠龙 TLim77 OP : It does, in your MM account statements that are generated on days when you initiate transactions and also when these transactions are settled.
TLim77 OP 倚天屠龙 : Nice. I always use the app only and couldn't find it.
倚天屠龙 : The display area in apps are always severely limited — this results in the UI design of MM mobile trading app being extremely complicated & difficult to navigate even for clients who have been using the MM mobile trading app for years.
倚天屠龙 TLim77 OP : It is displayed in MM Desktop Trading App [DTA]
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