QUOTE(thesoothsayer @ Sep 7 2016, 09:45 PM)
Let's say I sell off a fund and put the proceeds into the cash management fund, can I just use the cash management fund to buy another fund (i.e. sell off the cash management fund and use that money to purchase another fund in a single transaction) or do I still need to cash it out into a bank account and transfer it over for a new purchase?
It won't be in a single transaction.
It needs 4 transactions to happen.
Transaction 1: Switch sell of Fund A to CMF
Transaction 2: Buy CMF
Transaction 3: Switch sell of CMF
Transaction 4: Buy Fund B
You need to have "units" in CMF first before you can buy or top up a fund if you choose to pay using CMF.
Also do take note on the "cut off" time of each transaction.
This post has been edited by David83: Sep 7 2016, 09:54 PM