iFAST Financial Pte Ltd has attained the CPFIS registered Investment Administrator status. From 1 March 2005, FSM Global (formerly known as Fundsupermart.com/ FSM Global), the online division of iFAST Financial Pte Ltd will be the first online unit trust distributor in Singapore to offer this service. As a CPFIS registered Investment Administrator, FSM Global will now be able to draw a consolidated amount directly from your CPF agent bank for all your CPF investments. What this means is that you enjoy huge savings in agent bank charges when you invest your CPF monies. See graphical representation of the new IA Buy Process.

Previously, whenever you purchase a fund, FSM Global will send instructions to the fund house, who will draw monies from your CPF agent bank account to make payment for the purchase. If you purchase funds from different fund houses, each of them will individually draw from your CPF agent bank account. Each time this happens, you incur CPF agent bank charges.

If you sell your "Non-IA" holdings, and you buy at a later time, the new purchases will be under the "IA" status.

iFAST Financial will pay the sell/redemption proceeds when the sell order has been completed/ settled (on the redemption completion date) respectively to your CPF agent bank (for CPFIS-OA trades), CPF Account (for CPFIS-SA trades) or SRS account (for SRS trades). 

The final credited amount may be subjected to any applicable agent bank charges and GST. For a detailed breakdown of these charges, please check with your CPF agent bank.