Selling is a simple process at FSM Global. You may sell your Unit Trusts by going to: Transact > Funds (Unit Trusts) > Sell/Switch.

As of 8th December 2016, FSMOne permanently abolished all sales charges for Unit Trusts. This means you can buy and sell with no fees.

Unit Trust sell orders submitted:
Before 3:00 PM (Singapore time) on a business day will generally be processed on the same business day.
At or after 3:00 PM, or on a non-business day, will generally be processed on the next business day.

Important Notes

• Orders are processed based on the applicable fund’s dealing and trading calendar. On certain overseas market or fund holidays, transactions may be processed on the next available dealing day even if it is a Singapore business day.
• Once a Unit Trust sell order has been submitted to the fund manager for processing, it cannot be cancelled or amended. Please refer to the information on Void Orders and Right to Cancel for more details.
• Depending on the fund manager and fund type, some transactions may experience a processing lag of 1–2 business days.

Yes, you will receive email notifications after your Unit Trust sell order has been submitted and processed.

You will receive an initial email once your sell order has been successfully received.

After the order has been priced, a confirmation note will be posted to your FSM Inbox on the next working day, together with an email notification. You may also check your order status online via My Account > Processing / Pending Transactions or Historical Transaction. 

Once the sell order has been priced and processed, the relevant units will be removed from your “Investment Holdings” and move to "Historical Transaction" page.

The fund manager requires approximately 2-3 business days to consolidate and derive a unit price for the funds. Once we obtained the sell price, we will notify you via email.

Note:
Non Daily Valuation Funds will be priced at the end of the dealing period upon receipt of confirmation from the fund managers. It will take longer depending on the fund valuation cycle.

Sell orders for different Unit Trusts require varying timelines to be completed. Generally, the timelines are as follows:
Equity / Balanced Funds: Transaction Date (T) + 6 business days
Bond / Money Market Funds: Transaction Date (T) + 4 business days*
* Some fund manager require longer timeline for completion.

The proceeds will be credited to your selected redemption method once it is completed.

Note:
1. CPF/SRS (Non-IA status) holdings will take Transaction Date (T) + 10 business days to complete. The sell proceeds will be credited by the respective fund managers thus we are unable to provide an actual settlement date.

For Cash Investments
You may choose either Cash Account or Auto-Sweep Account as your redemption method. The proceeds will generally be credited to your selected account on "Settlement Date".

For CPF-OA / CPF-SA Investments
Proceeds will be credited back to your CPF agent bank (CPF-OA) or CPF Board (CPF-SA) on the Settlement Date.

For SRS Investments
Proceeds will be credited back to your SRS account maintained with your SRS Operator or SRS agent bank on the Settlement Date. 

Important Note:

• After redemption, CPF-OA proceeds will first be credited to your CPF agent bank. If no further CPF-OA investments are made within approximately 2 months, the agent bank will automatically transfer the funds back to your CPF Investment Account with CPF Board. If you wish to transfer the funds back earlier, you may contact your CPF agent bank.
• Processing times may vary depending on the fund manager and fund type.

 

Foreign conversion rate (FX) will be based on (settlements date – 2 business days) if your Unit Trusts sell order involves currency conversion.

The system will auto sell residual dividend units if there is nil holding in your account due to full redemption/ switch-sell/transfer-out of the fund.

If a fund with dividend reinvestment is fully sold and subsequently, the residual dividend units come in and being re-invested, system will auto sell those dividend units and credit the proceeds into your FSM Cash Account or your SRS/CPF Agent Bank Account respectively. This is made known with a remarks on the dividend statements that we sent to you.

Note: This was implemented since 31 October 2014.

For CPF-OA
The sell/redemption proceeds will be credited back to your CPF Investment Account with your agent bank. You may re-invest the sell/redemption proceeds in your CPF Investment Account, even if your CPF-OA balance is below $20,000. If there are no further investments made using CPF-OA for the next 2 months (for a more accurate timeline, please check with your Agent Bank), the agent bank will credit your sell/redemption proceeds back to your CPF-OA at CPF Board and you may not re-invest the balance if your CPF-OA balance is below $20,000.

For CPF-SA
The sell/redemption proceeds will be credited back to your CPF-SA with CPF Board directly and you may not re-invest the sell/redemption proceeds if your CPF-SA balance is below $40,000.

To know more about the New CPFIS rules from 1 May 2009, click here