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Amova Short Term Bond SGD
The Amova Short Term Bond SGD can be used as a Parking Facility Fund for CPF and SRS investment. The fund invests in a diversified portfolio of good quality, short-term bonds and money market instruments.
Click here to view Nikko AM Shenton ST Bond’s fund factsheet.
Ease and convenience in buying and selling unit trusts with no lag-time (subject to individual fund's restrictions).
When you sell your CPF/SRS unit trusts, you may choose to park the sales proceeds in the Amova Short Term Bond SGD to facilitate your future CPF/SRS purchases.
There is no sales charge or switching fee using the Amova Short Term Bond SGD. However, it is subject to 0.05% quarterly platform fee.
1. Buy into the Amova Short Term Bond SGD by placing an online buy order
2. Park sales proceeds from a unit trust sell order in Amova Short Term Bond SGD
3. Switch a unit trust into the Amova Short Term Bond SGD
Similar to buying other unit trusts, key in the investment amount, select the payment method and add to the shopping cart before submitting the buy order.
Orders received before 3pm on any business day will be transacted on the same day. If orders received after 3pm, the orders will be transacted on the next business day.
Buy orders will be completed on T+2 from the day of Transaction (T). Buy price is based on T.
For CPF-OA/SA/SRS orders
Buy orders will be transacted on the same business day if the CPF-OA/SA/SRS buy orders are placed before 3pm. If orders received after 3pm, the orders will be transacted on the next business day.
Buy orders will be completed on T+4 from the day of Transaction (T). Buy price is based on T.
The SGD proceeds will be parked in your preferred FSM Cash Solutions after T+2 business days.
If you are redeeming the sales proceeds in other currencies e.g. USD, the sales proceeds in SGD will be converted into USD and paid out to you on T+3. Foreign conversion rate (FX) will be based on (settlements date – 2 business days) if your sell order involves currency conversion.
For CPF-OA/SA/SRS orders
The sale proceeds will be credited into your respective CPF/SRS account on T+3 business days.
When placing a trade, select “Amova Short Term Bond SGD” from the "Select Payment Method" dropdown menu.
Note: Payment by Amova Short Term Bond SGD is subject to individual fund's restrictions.The maximum available balance** of your Amova Short Term Bond SGD will be shown each time when you place a unit trust buy order. This is the maximum amount that you can utilize to buy a unit trust without any lag time (i.e. same day purchase).
Such buy orders will be processed as a switch order, i.e., a switch from your Amova Short Term Bond SGD into the unit trust that you want to buy. You will be receiving a switch order email confirmation from us.
**Investors can only use up to 98% of the current Amova Short Term Bond SGD holdings to make same day transactions when the Amova Short Term Bond SGD is used as the payment method. 2% is set aside as a buffer for any differences due to forward pricing.
Due to forward pricing, and in order to enable same day purchase of unit trust using Amova Short Term Bond SGD, 2% of your Amova Short Term Bond SGD holding will be set aside to cater to any price fluctuation. This is because the actual number of units to be deducted from your Amova Short Term Bond SGD holding is not known yet as the NAV price of Amova Short Term Bond SGD of the dealing day has not been published.
We will elaborate more using the following hypothetical example:
Example:
Number of units in your Amova Short Term Bond SGD holding: 10,000 units
Latest indicative price: $1.00
Current value of Amova Short Term Bond SGD: $10,000
Maximum available amount of Amova Short Term Bond SGD that you can use for same day unit trust purchase: $9800 (this is after the 2% buffer)
You are able to invest into other unit trusts by indicating the absolute investment amount. For example, you can choose to buy Fund A, using $1000 from your Amova Short Term Bond SGD fund before 3pm. Buy order of Fund A will be processed on the same dealing day (T).
Actual NAV of the dealing day (T) will only be published and available 1-2 business day later.
If the NAV of T day remains as $1.00, 1000 units of your Amova Short Term Bond SGD will be deducted for the unit trust purchase.
If the NAV of T day drops to $0.99, 1010.10 units of your Amova Short Term Bond SGD will be deducted for the unit trust purchase.
If the NAV of T day increases to $1.01, 990.10 units of your Amova Short Term Bond SGD will be deducted for the unit trust purchase.
This is applicable when you are switching your Amova Short Term Bond SGD into another Amova Fund, say Amova A Fund.
There will be no** switch lag time and the Amova A Fund will be purchased on the same dealing day (T). Buy price will be based on T.
**subject to individual fund's restrictions
Please click here to check on Switch Intra Eligibility.
Inter Switch Order
This is applicable when you are switching your Amova Short Term Bond SGD into another Fund, say Aberdeen A Fund. Switch lag time is applicable i.e. the switch-buy fund will not be purchased on the same day. The switch-lag time is generally T+1.
Below is the switch lag time for Amova Short Term Bond SGD and most of the other funds:
Switch-sell lag time for Amova Short Term Bond SGD = 1 business day
Switch-buy lag time for most of unit trust = 0 business day
Hence, if you were to switch-sell Amova Short Term Bond SGD on T day, the Aberdeen A fund will be bought on T+1. The buy price of Aberdeen A will be based on T+1.
Please click here to see the full Switch Inter Lag Time.
However, please note that by placing this switch order online (switch-sell by number of units), switch lag time of generally T+1 will be applicable (except for Intra-Switch), which is similar to all other Inter-Switch Orders.
See FAQ No.11 for more explanation about the switch lag time involved.
Click here to know more about Unit Trusts Switching.
The sale proceeds of unit trust will be used to buy into Nikko AM Shenton ST Bond. Generally, the sale proceeds will be available in your Nikko AM Shenton ST Bond holding on T+6 business days (additional 2 business days for CPF-OA/SA/SRS orders).