Cash Plus FAQs: Find more about how it upgrades your idle money returns!
Hi, mooers!
It's been weeks since Cash Plus was launched in moomoo Malaysia, and we've received a lot of positive feedback!
First, big thanks to mooers @NiceOne @pyro7 @少年痴呆 @Caleb Kong @102448529 @ZHANG XIE JUN @103449891 @105573221 @CNNT @Bigger Big for bringing up excellent questions! We will award a 3-day 10% fund yield coupon for you! ![]()
Now, to help solve frequently asked questions about Cash Plus, we've collected the top queries from mooers and sorted out the answers. Scroll down and find out if that includes your question!
Features of Cash Plus
Q: How does Cash Plus work?
A: All three funds currently hold cash assets (bank deposits), which are low-risk investment vehicles. The source of return for the funds is the interest generated from the deposits held by the funds.
A: All three funds currently hold cash assets (bank deposits), which are low-risk investment vehicles. The source of return for the funds is the interest generated from the deposits held by the funds.
Q: Will there be any loss of principal?
A: The positions of all 3 funds are in cash assets (bank deposits), which are low-risk investment vehicles; we are unable to make promises about returns, but the funds have not suffered losses in terms of principal loss from historical data.
A: The positions of all 3 funds are in cash assets (bank deposits), which are low-risk investment vehicles; we are unable to make promises about returns, but the funds have not suffered losses in terms of principal loss from historical data.
Q: What are the risks involved in investing in Cash Plus?
A: Investment in Cash Plus involves mainly credit risk, interest rate risk, liquidity risk and income distribution risk, please refer to the risk factor in the product highlight sheet on the detail page of each fund.
A: Investment in Cash Plus involves mainly credit risk, interest rate risk, liquidity risk and income distribution risk, please refer to the risk factor in the product highlight sheet on the detail page of each fund.
Q: How are fund management fees charged?
A: The management fee is accrued daily and reflected in the current day's NAV. There is no separate deduction on a specific date. The actual earnings you see and receive are already pre-deducted by the management fee.
A: The management fee is accrued daily and reflected in the current day's NAV. There is no separate deduction on a specific date. The actual earnings you see and receive are already pre-deducted by the management fee.
Q: Is Cash Plus protected by PIDM?
A: The funds you subscribed to are not deposit assets and therefore not protected by PIDM. You are covered by the Capital Markets Compensation Fund (CMC Fund), which you are eligible to claim up to RM100,000 in the event of insolvency.
At the same time, your assets with Moomoo MY are held in a custodial account, and the platform does not have the right to access the client's assets under any unauthorized circumstances.
A: The funds you subscribed to are not deposit assets and therefore not protected by PIDM. You are covered by the Capital Markets Compensation Fund (CMC Fund), which you are eligible to claim up to RM100,000 in the event of insolvency.
At the same time, your assets with Moomoo MY are held in a custodial account, and the platform does not have the right to access the client's assets under any unauthorized circumstances.
Returns of Cash Plus
Q: How is the 3.5% return rate calculated?
A: The return rate displayed on the platform is the recent 7-day annualized yield, which reflects the past seven-day return level and is a reflection of short-term returns. The formula is attached for reference:
A: The return rate displayed on the platform is the recent 7-day annualized yield, which reflects the past seven-day return level and is a reflection of short-term returns. The formula is attached for reference:
Nearly seven-day annualized rate of return (%) = (NAV per unit on T8 - NAV per unit on T1) / NAV per unit on T1 / Number of natural days × 365 × 100%
*The recent 7-Day Annualized Return only represents the past and current performance of the fund, and does not imply actual returns; the data can be used as a reference for you to see how much you may gain from investing in a money fund and can be evaluated in conjunction with time deposits and other cash management products.
*There are fluctuations in the daily returns of the funds and the exact rate of return cannot be guaranteed; for more information, please refer to the historical return data on the detail page of each fund.
*There are fluctuations in the daily returns of the funds and the exact rate of return cannot be guaranteed; for more information, please refer to the historical return data on the detail page of each fund.
Q: What is Net Asset Value (NAV)?
A:
NAV: total value of the Fund’s assets minus its liabilities at the valuation point
NAV per Unit: The NAV of the Fund at the valuation point divided by the total number of Units in circulation at the same valuation point.
A:
NAV: total value of the Fund’s assets minus its liabilities at the valuation point
NAV per Unit: The NAV of the Fund at the valuation point divided by the total number of Units in circulation at the same valuation point.
Q: How are daily earnings calculated?
A: Daily returns are calculated based on shares x (current day's NAV - previous day's NAV); you can view them via Position - Returns Details.
A: Daily returns are calculated based on shares x (current day's NAV - previous day's NAV); you can view them via Position - Returns Details.
Q: Does Cash Plus generate returns over the weekend?
A: Weekend earnings will generally be reflected in the earnings issued on Monday.
A: Weekend earnings will generally be reflected in the earnings issued on Monday.
Q: Why are there 0 gains on some trading days?
A: There are two situations where the return maybe 0: first, when it is less than 0.01, and second, when the net value did not increase on the day, resulting in a return of 0.
A: There are two situations where the return maybe 0: first, when it is less than 0.01, and second, when the net value did not increase on the day, resulting in a return of 0.
Q: When are the daily earnings released?
A: Depending on when the fund's corresponding fund company updates the NAV, after updating the NAV, the income will be issued.
A: Depending on when the fund's corresponding fund company updates the NAV, after updating the NAV, the income will be issued.
Subscription and redemption
Q: How should I use Cash plus positions to trade stocks?
A: Cash plus positions can be manually redeemed, and the buying power can be used to buy stocks without waiting for the redemption amount to be credited to your account
A: Cash plus positions can be manually redeemed, and the buying power can be used to buy stocks without waiting for the redemption amount to be credited to your account
Q: Can I trade across currencies after redemption?
A: Cross-currency trading is possible after opening the margin account function.
A: Cross-currency trading is possible after opening the margin account function.
Q: Can I cancel the fund subscription immediately after submitting the subscription?
A: Only the subscription order for liquidity funds can be withdrawn, order for money market fund cannot be withdrawn once it is placed.
A: Only the subscription order for liquidity funds can be withdrawn, order for money market fund cannot be withdrawn once it is placed.
Q: Is it possible to subscribe directly with the assets in my bank account?
A: Currently direct subscription of funds via bank card is not supported, you can manually deposit funds first, and proceed to subscribe to the fund.
A: Currently direct subscription of funds via bank card is not supported, you can manually deposit funds first, and proceed to subscribe to the fund.
More Details
Q: Is it in accordance with the Islamic Shariah?
A: Currently, Moomoo MY provides Maybank Retail Money Market-I Fund, which is Shariah-compliant.
A: Currently, Moomoo MY provides Maybank Retail Money Market-I Fund, which is Shariah-compliant.
Q: Is the amount of the Cash Plus position included in the margin calculation?
A: Your Cash Plus position amounts will not be included in margin calculations.
A: Your Cash Plus position amounts will not be included in margin calculations.
Q: Will the position be part of net worth or listed separately?
A: Your fund's position will be considered as part of your net assets.
A: Your fund's position will be considered as part of your net assets.
Q: Is it possible to convert funds?
A: Currently, the conversion between funds feature is not supported.
A: Currently, the conversion between funds feature is not supported.
Q: Can fund position be used as collateral to trade stocks?
A: Currently, fund positions cannot be used as collateral for trading stocks.
A: Currently, fund positions cannot be used as collateral for trading stocks.
Limited-Time Reward:
Event Period: 08/08/2024 17:00 (MYT) - 30/9/2024 23:59 (MYT)
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Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Reg3e : Wished the US Cash Fund can still be used for trading even after subscription. Currently, you'll need to redeem before the money can be used for trading, which is a 3-day process/delay.
102448529 Reg3e : agreed, moomoo please consider asset in transit as collateral for trading