How long does it take for the fund to start earning since the deposit is being made ??
I deposited and subscribed to this fund on 4 Jan 2024, but the interest earnings only started to be credited on 9 Jan 2024 (5 days later). I saw the trading rule, I thought it should be reported on 8 Jan instead (t+1, with t being 5 Jan whilst 6 & 7 Jan were weekend).
Can you give me an example on how would you calculate the guaranteed 5.8% p.a. that you advertise ? Does the fund give earnings only for weekday (hence weekend not earning anything - unlike banks, you still earn interest) ? 'coz i see the earnings keeps lowering on daily basis. How the calculation being done IF one puts S$ 100k to subscribe this fund (understand max. guaranteed 5.8% only for up to 80k). I suppose everyone is interested to understand how the earnings is being calculated. Thank you.
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Moomoo Lily : Hi, @Moomoo Buddy Please help!
Moomoo Buddy : Dear client, for Fullerton SGD cash fund, if you subscribed on 4 Jan(before 12:00 the noon), the P&L started to calculated on 5 Jan, and it can be viewed on 8 Jan. ( Cause 6, 7 Jan was weekend) . And if the unit be confirmed on Friday, it will also calculate P&L on weekends. And for the 5.8% promotion, kindly refer ：【Earnings calculation】
If the return of the fund on that day is less than 5.8%, the difference of 5.8% will be made up, and the daily subsidy will be equal to the daily account holding amount * (5.8% - Cash Plus fund return rate selected by the client on that day)/365.
【Time to Proceeds】
It will be distributed as a cash reward to your Moomoo SG comprehensive account within seven working days after the end of the earnings period . If you have any questions, please feel free to contact us via MooMoo-Me-Customer Service-Online Inquiry or hotline (+65)-6321 8888 Thank you for your support! Have a nice day！
Dadacai : Moomoo updates the yield based on the NAV announced by the fund house one day later. The numbers you saw on 9 Jan was for 8 Jan. You cannot see the yield as interest as they are not actually paid out. It is the NAV that has changed. Cash Plus - a possible vehicle to park your idle funds