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Switching of funds.
itachi_MY 11-04-2011, 02:00:18 AM GMT


Joined Date : 11-04-2011
Nationality : NA
Posts : 1 times


Hi Guys,
Not sure if this has been asked before I couldn't find any answers from the forum.

Question:
I'm thinking of switching some of the funds I'm holding right now, but I have some queries.

1. If I were to switch from Bond Funds & to Equity Funds, the switching fees will be 1.5% or 2% (Inter fund house switch)

2. If few months down the road I've decided to switch back from that Equity Fund to Bond fund again, there will be NO switching fee right? since bond funds has 0% sales charge.

3. If again, I have decided to switch from that Bond fund to that equity fund again, will there be any more sales charge? since I've already paid for those sales charge in the 1st transaction.
Or do I have to pay for switching fee/sales charge everytime I switch??

Thanks.



last edited at 11-04-2011, 02:04:41 AM GMT
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jcho_SG 11-04-2011, 05:41:16 AM GMT


Joined Date : 16-11-2007
Nationality : Singapore
Posts : 28 times


You will only be charged based on one of the following:

Switching (same tier): 0%;

Switching (higher tier to lower tier): 0%;

Switching (lower tier to higher tier): 0.5%; OR

Switching (0% sales charge fund to any higher tier fund): Prevailing sales charge
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jcho_SG 11-04-2011, 08:24:48 AM GMT


Joined Date : 16-11-2007
Nationality : Singapore
Posts : 28 times



jcho_SG :
You will only be charged based on one of the following:

Switching (same tier): 0%;

Switching (higher tier to lower tier): 0%;

Switching (lower tier to higher tier): 0.5%; OR

Switching (0% sales charge fund to any higher tier fund): Prevailing sales charge


PLEASE NOTE THAT THE ABOVE-MENTIONED IS APPLICABLE FOR FUNDSUPERMART IN SINGAPORE AND THUS IT MAY NOT BE THE SAME IN MALAYSIA
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Protoss_MY 11-04-2011, 12:51:14 PM GMT


Joined Date : 09-09-2008
Nationality : Malaysia
Posts : 14 times


Hi Itachi,

For MY, you won't have to pay any additional charges if you are doing an "intra switch", because the credit system will help you to offset the sales charge.

You can refer to,
http://www.fundsupermart.com.my/main/faq/faq.svdo?id=2001

But if you are doing an inter switch, you will have to pay the sales charge again.
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jcho_SG 06-12-2011, 08:47:27 AM GMT


Joined Date : 16-11-2007
Nationality : Singapore
Posts : 28 times


With reference to FSM Singapore article on "Free Switching, Limited Time Only!", are we expecting switching fees to be imposed again after 2 Jan 2012?
Please advise.
Thanks.

last edited at 06-12-2011, 08:47:57 AM GMT
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Vesting_SG 06-12-2011, 05:07:41 PM GMT


Joined Date : 24-11-2009
Nationality : NA
Posts : 119 times



jcho_SG :
With reference to FSM Singapore article on "Free Switching, Limited Time Only!", are we expecting switching fees to be imposed again after 2 Jan 2012?
Please advise.
Thanks.


based on the term stated

The promotion is valid from 2 December 2011 to 2 January 2012. To be eligible for the promotion, orders must be placed before 3pm on 2 January 2012.

The promotion does not apply to transactions involving Intra Switch Buy, Regular Savings Plan (RSP) and Transfer-ins.

The promotion is not eligible if switch is performed from a fund which is sold at 0% sales charge (mostly money market fund and short duration funds).

Fundsupermart.com reserves the right to amend the Terms and Conditions without prior notification.


the free switching should be referring to fixed income to equity switching will be free instead of the usual 0.5%.(lower tier to higher tier). Remember what is stated: switching from 0% sales charge fund is excluded.
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jcho_SG 06-12-2011, 06:02:38 PM GMT


Joined Date : 16-11-2007
Nationality : Singapore
Posts : 28 times


Thanks for the info.


Vesting_SG :

jcho_SG :
With reference to FSM Singapore article on "Free Switching, Limited Time Only!", are we expecting switching fees to be imposed again after 2 Jan 2012?
Please advise.
Thanks.


based on the term stated

The promotion is valid from 2 December 2011 to 2 January 2012. To be eligible for the promotion, orders must be placed before 3pm on 2 January 2012.

The promotion does not apply to transactions involving Intra Switch Buy, Regular Savings Plan (RSP) and Transfer-ins.

The promotion is not eligible if switch is performed from a fund which is sold at 0% sales charge (mostly money market fund and short duration funds).

Fundsupermart.com reserves the right to amend the Terms and Conditions without prior notification.


the free switching should be referring to fixed income to equity switching will be free instead of the usual 0.5%.(lower tier to higher tier). Remember what is stated: switching from 0% sales charge fund is excluded.

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SSLEE_SG  (Moderator) 07-12-2011, 03:02:40 AM GMT


Joined Date : 19-11-2008
Nationality : NA
Posts : 172 times


You are correct Vesting. ( thanks for the reply too )

Yes, the current free switching promotion in FSM SG applies to switches from a lower-tier fund ( generally a fixed income fund) to a higher-tier fund ( generally equity fund). The usual 0.5% switching fee for such switches will be waived if the orders are placed during the promotion period.
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nobita_SG 08-12-2011, 08:11:19 AM GMT


Joined Date : 05-09-2009
Nationality : N.A.
Posts : 27 times


im curious, why is inter switching free but not intra?

"The promotion does not apply to transactions involving Intra Switch Buy, Regular Savings Plan (RSP) and Transfer-ins."
last edited at 08-12-2011, 08:12:47 AM GMT
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caka_MY 23-03-2012, 05:35:39 AM GMT


Joined Date : 11-08-2008
Nationality : Malaysia
Posts : 140 times


Intra switching is always free
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chieng81_MY 24-03-2012, 03:02:49 PM GMT


Joined Date : 24-03-2012
Nationality : NA
Posts : 3 times


intra switching fr 0% sales charge fund to 1% sales charge fund, u still ned to pay 1% sales charge. it's not free. better invest in spore FSM, more choice of funds and better swithing charge condition.
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chieng81_MY 24-03-2012, 03:04:00 PM GMT


Joined Date : 24-03-2012
Nationality : NA
Posts : 3 times


intra switching fr 0percent sales charge fund to 1 percent sales charge fund, u still ned to pay 1 percent sales charge. it is not free. better invest in spore FSM, more choice of funds and better swithing charge condition.
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Asriel_MY 28-03-2013, 02:14:03 AM GMT


Joined Date : 06-12-2012
Nationality : NA
Posts : 19 times


It is true that intra switching is not always free for all fund houses. For example, it will incur a switching charge of RM25 if you switch from equity fund to equity fund (same tier) immediately in OSK or AMB fund houses etc. However, it can still be free for all fund houses if you know how to maximize switching technique for free provided you are not in a hurry.

For example, you may switch from equity fund to bond fund or money market (higher tier to lower tier) within the same fund house, you will earn some credits in your account (will be stated on your upper right hand corner of your "view holding under fund name"). When you switch back when the time comes as you desire, the credit in your account will offset 100% or 99% of your sale or switching charges. So it is still free and unlimited free switching available in Malaysia FSM. But this is not applicable in Singapore FSM.
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