Restricted Schemes

1. Section 305 of the Securities and Futures Act (“SFA”) states that restricted schemes can only be offered to either:
(i) a “relevant person”, or
(ii) a person who acquires the units at a consideration of not less than $200,000 (or its equivalent in a foreign currency) for each transaction.

2. Definitions:
"Relevant Person" means:
(a) an accredited investor (FSM+);
(b) a corporation, the sole business of which is to hold investments and the entire share capital of which is owned by one or more individuals, each of whom is an accredited investor;
(c) a trustee of a trust the sole purpose of which is to hold investments and each beneficiary of which is an individual who is an accredited investor;
(d) an officer or equivalent person of the person making the offer (such person being an entity) or a spouse, parent, brother, sister, son or daughter of that officer or equivalent person; or
(e) a spouse, parent, brother, sister, son or daughter of the person making the offer (such person being an individual).

To buy resricted funds, you will need to declare as an Accredited Investor (FSM+).
For more information, please click here.

You may view the list of Restricted Funds under Funds > Funds Selector. However, detailed fund information is only accessible to clients with Accredited Investor (AI) status. If you are not an AI, the fund details will not be displayed.

The cut off time is 3pm on any business day.
For daily-valuation funds, the order will be transacted on the same day if your order and payment is received before 3pm.
For non-daily valuation funds (e.g. weekly & monthly valuation), your order will be transacted on the next/ dealing day of the respective funds.

Please refer to Payment Instructions.

Note: In any case where the payment currency is different from the fund currency (e.g. purchase a USD denominated fund using SGD), we will convert the currency of your payment accordingly before submitting to the Fund Manager.

Generally, the minimum investment amount for most of the restricted funds is S$50,000 (in respective fund's currency).

Once your restricted funds buy order is transacted on T (Transaction date), the buy price will be announced within 2 business days generally. An email will be sent to notify you on the same day.

Sales charges for restricted funds and retail funds are alike. Unless otherwise stated, the sales charges for all funds are 0%.

Similar to the retail funds that you may already have, you will be able to track the performance of the funds online. Simply login and go to My Account > Investment Holdings. You will have access to its fund factsheet by clicking on the fund name on your holdings page.

Yes, you will be able to place a switch order for restricted funds, such as the following:

1. Switch from a retail fund to a restricted fund
2. Switch from a restricted fund to a retail fund
3. Switch from a restricted fund to another restricted fund

Please note that a switch order is treated as a sell order followed by a buy order. The sell/redemption proceeds of the switch-sell fund will be used to settle the payment of the switch-buy fund. The switch-buy order will be processed upon receipt of the sell/redemption proceeds.

Note:

1. Switching may not be available for some restricted funds.
2. Switching from a non-daily valuation restricted fund is not available.

At FSMOne, you will enjoy 0% sales charge for all switching between Unit Trusts.

Similar to selling a Retail Fund, login to your account and go to Transact > Funds (Unit Trusts) > Sell/Switch.
Once the order is placed successfully, an email notification will be sent to you.

The cut off time is 3pm on any business day.
For daily-valuation funds, the order will be transacted on the same day if your order is received before 3pm on any business day.
For non-daily valuation funds (e.g. weekly & monthly valuation), your order will be transacted on the next/ coming dealing day of the respective funds.

Once your restricted funds sell order is transacted on T (Transaction date), the sell price will be announced within 2 business days generally. An email will be sent to notify you on the same day.

You may select either Cash Account or Auto-Sweep Account as the redemption method.

The sell/redemption proceeds will be credited into the selected redemption method on the settlement date.

Note: In any case where the sell/redemption proceeds currency is different from the fund currency (e.g. sell a USD denominated fund and chosen SGD Cash Account as the redemption method), we will convert the currency of your sell/redemption proceeds accordingly.