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$Fullerton SGD Cash Fund (SG9999005961.MF)$ anyone kind enou...
$Fullerton SGD Cash Fund (SG9999005961.MF)$ anyone kind enough to explain what is with the 5.8% thing? I don't get it.
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rabbitsamlcs : if u r an existing customer of moomoo, u will be eligible to participate in the event. if u fulfill the criteria to make at least 5 buy-trades and deposited at least 10k after u clicked to "claim" to join the event, then u can get 5.8% GUARANTEED return for 30days, regardless whether the fund earns or lose (rarely lose) or whatever the fund's rate is. the reward of 5.8% will only be credited to u in a lump sum after 30 days. you are still earning and still seeing normal daily returns of 3.9%. the remaining 1.9% (5.8-3.9%) will be accumulated and credited in cash to u in lump sum into your universal account after 30 days
104079321 OP rabbitsamlcs : as of now, i dont see any progress on the funds. Or is it im seeing it wrongly?
rabbitsamlcs : the extra rewards of 1.9% (5.8-3.9%) will be accumulated and credited into your account AFTER 30 days, not now. Meanwhile, now, u can only see your daily returns of about 3.9% current rate
104079321 OP : how do we see the daily return?
rabbitsamlcs 104079321 OP : click the “revenue details” button. if u JUST started putting money in, u gotta wait for at least 2 more days before u can start seeing extra money in it
104079321 OP rabbitsamlcs : ohh, so when 7 days end, the funds will be given back to us or? I'm actually a newbie, don't mind me. I'm sorry
rabbitsamlcs 104079321 OP : no, the total money that u put in, can be withdrawn/redeemed any time (but processing of it takes about 2 days), just think of this as a "normal bank savings account" with higher interest rate. the "interest" will be credited to you every day. the "7-days yield" term is confusing, if i understand correctly, and to think of it simply, you are earning about 3.9% interest per annum (but this is based on past 7 days average performance of the fund). and that is higher than fixed deposit rate in singapore. however, the capital is not guaranteed. there are some days that you are not actually earning but losing. fortunately, this is extremely rare for this fund for current performance. eventually your earnings will cover the losing days because earning days are much much more frequent than losing days for this fund. i have joined this fund since early last month, there are no losing days yet
104079321 OP rabbitsamlcs : so every 7 days, when it end we redeposit. what happen to the existing one?
rabbitsamlcs 104079321 OP : no, just think of this like a normal bank savings account. you dont need to put money into your own bank account every 7 days. you can put in or withdraw money whenever u want to. same like how u do with your bank, or this fullerton MMF. The term "7-day yield" is simply "3.9% pa based on past 7 days performance". i have seen sometimes it went up to more than 4% when there are "good days" in that week. or sometimes it went to 3.6% for having not-so-good days in that week.
104079321 OP : ohh, thank u alot. now I understand
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