QUOTE(Ic3ywolf91 @ Feb 18 2016, 07:38 PM)
Hello seniors and sifus, im planning to start investing via fundsupermart. I came across the following statement in the faq section. Does this mean that in an unlikely event where the platform ceases as a business, theres a possibility i will nt be getting back my units? (Since non epf funds are not registered under my name)
Thanks in advance
: WHEN I BUY FUNDS FROM FUNDSUPERMART, IN WHOSE NAME WILL THE UNITS BE REGISTERED IN?
A: For cash investments, all units will be registered under iFAST Nominees Sdn. Bhd. For EPF Account 1 investment, they will be registered in your names. These units are segregated from the company’s assets.
You can contact our hotline (03)2149 0567 for any problems regarding your investments and iFAST Capital Sdn. Bhd. will liaise on your behalf with the fund managers.
As with all CUTA and IUTA platforms, the cash funds are bought in the principals name. In the event of company bungkus, the principal will have to pass along the account holder details and holdings, either back to the asset manager, or whoever who buys them out, or go through forced liquidation, with funds returned to customers. Thanks in advance
: WHEN I BUY FUNDS FROM FUNDSUPERMART, IN WHOSE NAME WILL THE UNITS BE REGISTERED IN?
A: For cash investments, all units will be registered under iFAST Nominees Sdn. Bhd. For EPF Account 1 investment, they will be registered in your names. These units are segregated from the company’s assets.
You can contact our hotline (03)2149 0567 for any problems regarding your investments and iFAST Capital Sdn. Bhd. will liaise on your behalf with the fund managers.
For EPF-MIS purchases, the asset manager has direct access to your details. Look up their terms and conditions to see what happens when bad shit happens.
In either case, your major concern here is record keeping. If you keep your statements in order, and keep track of all transactions, it will be to your benefit in the event of a messy winding down.
Feb 18 2016, 09:27 PM

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