I wish to invest in Sg stocks using my funds in Singapore. Can I open a FSM Sg account from here? I already have a FSM My account. I am.assuming I won't be able to fund it from my Singapore account.

This post has been edited by Mattrock: Jun 17 2023, 06:36 PM

Yes you can but not worth it because it will subject TT fees for funding and withdrawal 🤦‍♀️

https://secure.fundsupermart.com/fsm/accoun...g/non-residents

Thanks mate.

If you have Singapore bank account. You can use this to fund FSM SG through FAST. Withdrawal can also be to the SG bank account. No TT fees

No problems. can register FSM SG all online.

I've asked a question regarding Qualified Interest Income (QII) for FSMOne platform.

Dear FSMOne,
May I know if owning ETF like iShares 20+ Year Treasury Bond ETF (TLT) on your platform, will you/ your broker help us to claim the Qualified Interest Income (QII)? Which means that the 30% Dividend Withholding Tax can be claimed back yearly for qualified ETF. https://www.ishares.com/us/literature/tax-i...-final-2023.pdf

Reply:
Please be informed that generally most of the US ETFs will subjected to 30% withholding tax. However if the ETF consists of municipal, note, debt or long-term capital gain then it will entitle for the tax exemption.

If the ETFs is entitle for 0% withholding tax, our custody will refund to us upon annual reclassification of tax. Thereafter, we will process the refund payout to client cash account upon receive the confirmation of payment.

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Does that mean owning ETF like BND, TLT, TLH from iShares, we can expect some % of the dividend withholding tax credited back every year?

This post has been edited by melondance: Jun 20 2023, 04:54 PM

Since FSM had responded you, it would be interesting and informative to get the response to your latest query as highlighted too.

Q:Does this mean if I own an ETF under iShares QII list, the stated % qualified interest income that were charged for Dividend Withholding Tax will be returned to us every year?

A:Please be informed that the tax refund period will depend on when the counter reclassifies the tax return. Generally will be in yearly basis and the amount will be credit back to your cash account upon we receive the refund.

It depends on the broker as well on on how and when they reclassify it as I know that Stashaway will refund the following year which means that you will receive the refund a year later on that platform

iBKR so far usually quick for me within 3 to 6 months while FSM you will would have to check whether do they do it directly or through a 3rd party

Redeemed Global disruptive innovation fund and it'll take 2 weeks for $ to be credited to bank 🤦 😄

You mean the pseudo ARKK fund 🤦‍♀️ 2 weeks is too long but because it is multi feeder fund hence not suprising because of the multi level tier fund involving multi parties

I'm looking to parking my money into a stable fund like fixed income. Which one are you guys investing in? I'm can't stomach the volatility this year

I think this year, ...funds roi are going up for most of my ut funds, much better performance than 2021, 2022....
Hope it last and continue to go up since Covid19 ended..

I am putting some of my need to use money in AH fixed income after exiting my AH equity funds to collect some credit points

Which AH fixed income may I ask? Been away from UT scene I lost track. BTW all the old guards like xuzen all gone dy I noticed

I took that with emphasis more on collecting credit points and for short term use.

This post has been edited by MUM: Jun 23 2023, 12:32 PM


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I'm invested in Amanahraya Syariah Trust Fund, just a "parking" facility for my cash

I have some USD in my FSM cash account. Can I withdraw this directly into my local bank's USD savings account (FCA account) without any MYR conversion? Anyone tried it?

there will be TT charges, not worth it if ur USD amount is small.

why dont invest it into some USD short duration bond fund or US Treasury Bill if you are not planning to use it?

This post has been edited by zebras: Jun 30 2023, 10:26 AM

Great suggestion! Thank you.

currently fsm pays 3.5% for parking facility, isnt this is better than putting in the bank saving account earning a miserable 0.5% ? what is the catch of parking facility in fsm.