Jan 24 2017, 09:10 PM
QUOTE(AIYH @ Jan 24 2017, 09:02 PM)
Interested to know, if in m2u and cimbclicks, switch only means switching within the fund house, then what function in them allow you to switch across the fund house?
At least within the context of FSM (not sure about other platform so we just explain the feature available in FSM), there are 2 types of switch.
i) intra-switch : which means switch between different funds within the same fund house, usually the funds will be sell and buy into another fund within the same day, no charges except RHB and manulife funds
if equity to equity, no SC
if equity to bond, you will gain 2% of SC, for example if you sell RM1000, you will get 20 credit points, each credit point with RM1
If bond to equity, you can utilize the credit points if you have, else default SC 2% will be charged
I think this is the same as what you experience in switching in m2u and cimbclicks
p/s: this is what I understand so far, didnt actually performed intra-switch myself, kindly correct if I am wrong
ii) inter-switch : which means switch across funds in different fund houses, and if you switch to equity, you will get charged SC, but good thing is if is within promotional period, promotional SC applies
In general, this involves disposing your fund in 2 days and immediately buy into another fund, which is faster then you sell the funds manually, wait for the money for 4 days, then buy into another fund (some funds have shorter/longer processing time, do check out their schedule before switching)
So far I have only switched in M2U. But I checked out the entire CIMB Clicks process and it is basically the same structure. At least within the context of FSM (not sure about other platform so we just explain the feature available in FSM), there are 2 types of switch.
i) intra-switch : which means switch between different funds within the same fund house, usually the funds will be sell and buy into another fund within the same day, no charges except RHB and manulife funds
if equity to equity, no SC
if equity to bond, you will gain 2% of SC, for example if you sell RM1000, you will get 20 credit points, each credit point with RM1
If bond to equity, you can utilize the credit points if you have, else default SC 2% will be charged
I think this is the same as what you experience in switching in m2u and cimbclicks
p/s: this is what I understand so far, didnt actually performed intra-switch myself, kindly correct if I am wrong
ii) inter-switch : which means switch across funds in different fund houses, and if you switch to equity, you will get charged SC, but good thing is if is within promotional period, promotional SC applies
In general, this involves disposing your fund in 2 days and immediately buy into another fund, which is faster then you sell the funds manually, wait for the money for 4 days, then buy into another fund (some funds have shorter/longer processing time, do check out their schedule before switching)
This is how it works:
1) Select "Switch" action
2) You are given a list of funds to switch to, which are only Affin Hwang funds.
3) Zero SC applies from the bank's side, however fund houses may charge their own fee. This is not highlighted to you, you need to read the fund prospectus. Like RHB RM25, no warning is given.
Maybank switch is completed (displayed in profile) by the end of the second working day. But the switch itself occurs on the same day, so you do not "lose" days.
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