Frequently Asked Questions

Unit Trust

1.How do I make payment for my unit trust purchases?*

  1. Via bank ATM/internet banking facility:
    • Electronic Payment for Shares (EPS) – Lump Sum Payment
      (preferred option); or
    • GIRO, if you have applied for it. (Not applicable for Cash Management Accounts)
  2. Via cheque payment:
    • • Send us a cheque with payee “Phillip Securities Pte Ltd (PSPL)”; or
    • Drop the cheque into the designated cheque collection box on 6th floor @ Rafffles City Tower by 3pm for same day crediting. Any cheques deposited after 3pm will be processed on the next business day.

    Note: Nets and Credit card payments are not accepted. Payment for trades cannot be made at any of the branches.

  3. Via Bank Internet Banking service:
    • Make payment via the Bill Payment function
      • Participating banks: POSB/DBS, UOB, OCBC, MayBank, Standard Chartered Bank, Citibank
      • Simply enter the full 7 digits of your trading account number.
        If your account has less than 7 digits, please enter the relevant number of zeros before your account number e.g. trading account
        “12345” to be entered as “0012345”

      Note: It usually takes 2-3 working days for us to receive your payment. For Citibank bill payment, it will take 5-7 working days.

*Note:

  • EPS – Lump Sum Payment should be done by 9pm on T (Transaction) day.
  • For existing DBS/POSB GIRO applicants with Phillip Securities, deduction will be caried out on T + 1 day after 3.00 pm.
  • Online Bill Payment via internet banking should be performed on T day.
  • All cheques must be deposited at the designated cheque collection box latest by 3pm on T+2 day.
  • Investment Account (Margin/Custodian/PCMA) clients should ensure that there are sufficient funds in their accounts before submitting orders.
  • Before the use of CPF-OA money to trade, please ensure that a standing instruction with your CPF investment bank is signed and CPF Investment account Number submitted to Phillip Securities.
  • Phillip Securities Pte Ltd reserve the right to force sell any outstanding purchases. Any losses incurred shall be borne by clients.

There are no platform fees, sales charge, or switching fees when you transact online via POEMS. Learn more about zero fees.

Apart from being high-tech, we also understand that some of our customers value high-touch. Thus, despite growing our online channel, we have also maintained our human channels to provide this service to those who need it. A sales charge may be levied as these face-to-face channels are able to give clients financial advisory services.

Below retirement age, a CPF investment cannot be converted into a cash investment. It can only be converted when an investor reaches retirement age and has met the CPF minimum required sum set aside.
For more information regarding transfer in, please refer to our Transfer In page.

Please note that we do not charge any transfer in fees.

Phillip’s Excess Funds Management Facility, also known as SMART Park, allows you to park your money while waiting for investment opportunities. The excess funds will be invested on a discretionary basis into Phillip Money Market Fund.

Kindly follow this path to opt-in online:
Login -> Acct Mgmt (Account Management tab) -> Stocks tab -> Online Forms -> Excess Fund Authorization

Alternatively, you may contact your Financial Advisor or our call center at 6531 1555 for more assistance.

The cut-off time is 3pm on any standard dealing day. If your order is submitted after 3pm or submitted on a non-dealing day, the order will be processed on the next dealing day. Examples of non-dealing days include weekends and public holidays of the fund’s country of origin.
Net Asset Value is the market value of the fund’s total assets plus income less expenses.

The NAV of a fund will be announced by the fund houses after 2 dealing days. Hence the NAV displayed is always back dated. The NAV at which you have transacted will be made known to you within 2 dealing days.

An individual who is:

  • Above 18 years of age; and
  • Non-U.S. Citizens and non-U.S. Residents

Is eligible to invest in unit trusts.

For cash holdings, settlement will be up to T + 7 business days.

For CPF/SRS (IA Status) holdings, settlement will be T + 5 business days.

“Acc” and “Dis” are abbreviations of the words “Accumulation” and “Distribution”, which denote classes of the fund.

Accumulation funds do not distribute dividends. Instead, all income and interest attributable to this Class will be accumulated and reflected in the price (NAV) of the units of the Class.

Distribution funds distribute dividends either by cash payout or by reinvesting back into the fund. For transactions with Phillip, where distributions are in the form of cash, they will be re-invested to the same fund by default. The dividends will be reinvested in the form of additional units in your relevant holdings. If you want to have the dividends paid out, please fill in this form.

Some funds distribute dividends while some funds do not. Funds that distribute dividends either do so in cash value or units. Dividends issued in cash value can be paid out and credited to your account. If you do not choose for a payout option, the dividends will be re-invested by default.

Dividends that are issued in units will not be received in cash. In this situation, if you require a cash payout, you may sell some or all of these units depending on your requirements.

We have recently developed a new service which is a Dividend Model Portfolio. This is a portfolio of dividend paying funds and was put together by our research team.

Dividend Model Portfolio

Note: The declaration of distribution is at the sole discretion of the Fund Manager and is not guaranteed.

Unit Trust RSP

1.What is a Unit Trust Regular Savings Plan (RSP)?

Unit Trust RSP is an investment plan that offers a consistent and disciplined means of investing into a particular fund.

It adopts the concept of dollar cost averaging whereby more units are bought when prices are low and lesser units when prices are high. As a result, in times of fluctuating markets, the average cost for all the units can be lower than the average price during the same period.

Find out more about Unit Trust RSP 

You can apply online via POEMS or visit any of our Phillip Investor Centres.

For online applications via POEMS, kindly follow these steps:
Login to POEMS > Acct Mgmt > Regular Savings Plan (RSP) > Unit Trust RSP > Investment Instruction > Apply Plan

For new Unit Trust RSP application, the plan will commence only when the GIRO Linkage Application has been received by Phillip Securities Pte Ltd (PSPL), and approved by the respective banks. For non-cash RSP, there must be CPFOA/SA/SRS details tagged to your account.

Note: Applications received will take up to 30 business days to come into effect.

You can download and complete the GIRO form via the link below and mail to us using the business reply envelope below. Alternatively, you can submit to any of our Phillip Investor Centres for assistance.

GIRO Form
Business Reply Envelope

GIRO linkage is subjected to the respective banks’ processing timeline which is approximately three to six weeks after you have submitted your GIRO application.
You will be notified by the bank first when your GIRO is approved. A letter will then be sent to your mailing address after we have received the status of your GIRO linkage from the bank.

Additionally, you can login to POEMS to check your status via Acct Mgmt > Regular Savings Plan (RSP) > Unit Trust RSP > Investment Instruction.

You may prefund to kick start your Unit Trust RSP while pending the GIRO Linkage approval via the prepayment option.

You can seek assistance from your servicing representative or visit any of our Phillip Investor Centres for the arrangement.

Some funds require an initial investment before you can subscribe to Unit Trust RSP. Whether a fund requires initial investment will be stated in the fund information.
Unit Trust RSP subscription will be on the 7th (T-day) calendar day of the month, if the 7th falls on a weekend or public holiday, it will be on the next business day.

Deduction details as follow:

  • For Cash investment, money will be deducted from your bank account on T-3 day, depending on bank processing timeline
  • For CPF/SRS investment, money will be deducted from your CPF account/SRS agent bank on T-1 day.

Please ensure that you have sufficient funds in your account before the deduction date (T-3) to prevent failed deductions.

A failed GIRO deduction fee may be imposed to your account by your bank. You may reach out to your bank should you require further clarification.

If there is an insufficient amount in your bank/CPF account, GIRO deduction would be unsuccessful and there will be no Unit Trust RSP investment for that month.

  • For Unit Trust RSP via cash, there will be no penalty. However, your Unit Trust RSP will be terminated after 3 consecutive months of unsuccessful deductions.
  • For Unit Trust RSP via CPF, a penalty charge may be imposed by the CPF bank. Your Unit Trust RSP will be terminated after 3 consecutive months of unsuccessful deductions.

Please ensure that you have sufficient funds in your account before the deduction date (T-3) to prevent failed deduction.

A failed GIRO deduction fee may be imposed to your account by your bank. Please reach out to your bank should you require further clarification.

If your holdings are at or above the minimum holding amount or minimum units required by the Fund Manager, your holdings will remain unchanged. You may retain them as a long-term investment.

If your holdings are below the minimum holding amount or minimum units required by the Fund Manager, you will be requested to redeem your holdings. If you wish to retain your holdings in this case, you may purchase more units to fulfil the minimum holding amount or minimum units and continue your investment.

Unit Trust RSP can only be settled in SGD currency. You can apply for the available non-SGD funds for Unit Trust RSP but the investment currency will only be in SGD.
There is 0% sales charge when you apply via POEMS. However, charges may apply if you are seeking for advisory services on Unit Trust RSP from your Financial Adviser Representative.
There is no lock-in period for Unit Trust RSP.
Amendment of investment instruction(s) such as change of funds (including increasing or reducing the fund to invest), investment amount, fund source or frequency can be done via POEMS or physical form. No charges will be imposed for any changes made.

  • Amendment(s) via POEMS:
    Login to POEMS > Acct Mgmt > Regular Savings Plan (RSP) > Unit Trust RSP >
    Investment Instruction > Amend

Please note that amendment(s) made via POEMS will not be reflected immediately. The updated investment instruction will be reflected after it has been processed. Instructions received via POEMS will take up to 30 business days to come into effect.

 

  • Amendment(s) via Physical Form
    Kindly seek assistance from your Financial Adviser Representative or visit any of our Phillip Investor Centres to complete the form submission. Form submissions received will take up to 30 business days to come into effect.

Note: Some funds will require a minimum initial investment. For such funds, you must have lumpsum holdings prior to the application or amendment of the Unit Trust RSP. Otherwise, your application or amendment for the Unit Trust RSP may be rejected.

All RSP amendment and termination submissions (via POEMS or physical forms) will take up to 30 business days to come into effect.
You may terminate your Unit Trust RSP as follows:

  1. Partial Termination (Amendment)
    Partial termination of Unit Trust RSP is termed as Amendment. For amendment, you may submit online via POEMS 2.0/Mobile or physical form.
  2. Full termination
    If you would like to have a full termination of all the Unit Trust RSPs, you are required to submit the physical termination form with the assistance from the respective Financial Adviser Representative or visit any of our Phillip Investor Centres.

All RSP amendments/terminations will take up to 30 business days to come into effect.

Your Unit Trust RSP will not be terminated when full redemption is made on the particular fund(s).

You will have to submit the amendment/termination via POEMS 2.0, Mobile or physical form after redemption as specified in Q.16.

All submission of RSP amendments/terminations will take up to 30 business days to come into effect.

If the fund is temporarily suspended or closed for subscriptions, your subsequent Unit Trust RSP will be stopped until the fund is open for subscription.

If the fund has been suspended or closed to subscriptions indefinitely, your Unit Trust RSP will be terminated. Your existing holdings will remain unchanged unless the fund is to be closed.

If you have any enquiries, please contact us at 6531 1555 or email us at unittrust@phillip.com.sg.
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