$Fullerton SGD Cash Fund (SG9999005961.MF)$ Seems the Fuller...
$Fullerton SGD Cash Fund(SG9999005961.MF$ Seems the Fullerton fund takes 2 business days to start to earn interest after subscription.
However, for redemption it will stop earning interest immediately but will only receive the funds after 2 business days.
Hence the 7 day yield may seems attractive, but in reality, actual interest earned have to deduct 4 business days. Actual interest income will be lower.
Other MMF do not have the 4 business days stated without earning interest income.
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wkwb : Yes this is correct. It takes 1-2 working days to invest the money and 1-2 working days to redeem your investment. As those days you’re not invested but capital is being processed, you don’t earn interest during those periods
Dadacai : For subscription before 12pm on a dealing day, the return starts posting two dealing days later but it is for the day before (moomoo’s figures are delayed by one day). For redemption, if you do it before 12pm, you will receive the money the following dealing day. For this fund on other platforms, there is also a waiting time that’s usually longer to confirm the price for subscription and to receive the funds after redemption.
StrangerSG : That's bad!!