As prescribed by the Monetary Authority of Singapore (MAS), the applicant has a right to cancel his unit trusts subscription during a 7-calendar-day cancellation period, if the applicant does not have any existing holding in the same unit trusts prior to his subscription. If the applicant participates in a regular saving plan, the right to cancel applies only to the first month's contribution but not any subsequent payments.

Generally, the principle behind giving the applicant the right to cancel is that the applicant might not have fully understood all the features of the product at the point of purchase. If the applicant has existing units of the product, the right to cancel will not apply.

Note: Not all unit trusts are eligible to the "Right to cancel" features. Please refer to the fund info page for more information.

The unit trusts cancellation period lasts for 7 calendar days and starts on the date of subscription. If it expires on a Sunday or a public holiday in Singapore, the last day will be extended to the next calendar day which is neither a Sunday nor public holiday. E.g., an investor who enters into a unit trusts purchase agreement on Tuesday would need to exercise his right to cancel no later than Monday of the following week.

To exercise the right to cancel for Unit Trusts subscription, please download this Cancellation Form.

The investor should within the cancellation period email the signed Cancellation Form to cancellation@fundsupermart.com

The cut off time for receipt of cancellation is the same as the dealing day cut off time i.e. 3pm. If the cancellation request is received after the dealing cut off time, the cancellation will be held over until the next dealing day. Where the cancellation request is received by post, the date for determining if the right to cancel has been exercised within the cancellation period is that of the postmark.

In general, all validly served unit trusts cancellation requests will be processed as a normal realization instruction in accordance with the prospectus of the unit trusts. The relevant price for calculating the amount to be refunded will be the dealing price following the receipt of the cancellation request.

Applicant shall bear any loss if the realization price on the cancellation date is lower than the original value at the time of subscription. Where the market value of the units held by the investor is greater than the original amount paid by the investor, the investor is not entitled to receive the excess amount.

Unit trusts cancellation proceeds will be paid to investors in compliance with the requirements under the Code of Collective Investment Schemes in respect of sell/redemption proceeds i.e. T+6 business days.

During the cancellation period, an investor may choose to redeem his units instead of exercising his right to cancel. In this case, the redemption procedures as stated in the prospectus of the unit trust will apply.

In the event an investor chooses to redeem his units instead of exercising his right to cancel, the investor will not be able to enjoy the benefits of cancellation (i.e. no refund of initial sales charge will be given for redemption and levy of realization charge is allowed) and the sell/redemption proceeds that the investor will receive may be lower than the amount being refunded had he exercised his cancellation right if the appreciation in the value of units in the unit trust is less than the initial sales charge; and

The published prices are indicative in nature and can change during the period between submission and processing the redemption request.

FSM Global will process the unit trusts cancellation at no charge. However, fund managers may impose an administrative charge for each cancellation request.