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Trade rules

Private equity funds and structured products are periodically available for subscription/redemption (e.g., once a month or once a quarter). When they’re not open, you can reserve subscription/redemption, and the system will execute your order on the designated day. 


1.  Subscription

Private equity funds generally have a subscription opening cycle; in other words, they are periodically available for subscription, e.g., once a month/quarter/half year. According to the trading rules of different products, you need to reserve subscription in advance (i.e., before the closing day of fundraising). If you miss the deadline, you can only reserve subscription for the next open day. 

You can reserve subscription and cancel your reservation anytime before the closing day of fundraising. Reservations that are not cancelled will be effective on the day the fundraising ends. 


2. Redemption

Also, private equity funds generally have a redemption opening cycle; in other words, they are periodically available for redemption, e.g., once a month/quarter/half year. According to the trading rules of different products, you need to reserve redemption in advance (i.e., before the closing day of redemption reservation). If you miss the deadline, you can only reserve redemption for the next open day.

For products with a lock-in period, while making a reservation, you can only choose to redeem it after the lock-in period ends (e.g., redeem it at the end of a month/quarter after the lock-in period ends). 

You can reserve redemption and cancel your reservation anytime before the closing day of redemption reservation. Reservations that are not cancelled will be effective on the day the redemption reservation ends.

Some products will be auto-redeemed when the lock-in period ends, so you don’t need to reserve redemption.


3. Trading fees

Some funds may charge fees, including those deducted directly from the fund’s NAV and one-off fees. Please check it on the fund’s page. In addition, GST will be levied on Singapore residents as required by the Singapore government. 


4. About subscription/redemption reservation

Clients can reserve subscription/redemption for a specific day by placing a reservation order. If you reserve subscription, you only need to ensure that your account’s buying power is greater than the subscription amount on the designated day. Your account will be auto-debited and units subscribed. If you reserve redemption, the system will redeem corresponding units automatically on the day. 

You can cancel your reservation anytime before it becomes effective. Once it becomes effective, you can’t cancel it. 

Risk disclaimer: If you don’t have enough [buying power] or the coupon you used while reserving subscription expires on the designated day, your subscription may fail. 


5.  Process for reserving subscription

(1) Go to Funds, find the fund you want to buy, tap it to enter its Fund Detail page, then tap the [Reserve] button at the bottom. 

(2) Enter the subscription amount and choose the day for the subscription. Your reservation is successful once you’ve submitted the order. You just need to make sure your account has sufficient funds and wait for the auto-debit. 

 

6.  Process for reserving redemption

(1) Choose the fund you want to redeem from the funds you hold.

(2) Tap the [Reserve] button at the bottom to enter the redemption page.

(3) Enter the redemption amount and confirm the day for the redemption and when you'll receive the cash. Your reservation is successful once you've submitted the order. You just need to wait until the day, and the fund will be auto-redeemed. 

 

7. View reservations

(1) Go to Trade, then tap the [More] icon at the top > [Reservations] to view and select your reservations.

(2) Explanations for the four order statuses. 

StatusExplanation
In ProcessWaiting for debit.
ExecutedFor a subscription reservation, it means you’ve subscribed to the fund successfully; for a redemption reservation, it means the fund has been redeemed and you’re waiting to receive the cash.
FailedReservation failed. You failed to subscribe to or redeem the fund.
CancelledThe order is cancelled and won’t be executed on the designated day.


8. Cancel reservations

If you want to cancel your reservation, you can go to the Reservations page to cancel it before it becomes effective. 

(1) Follow the instruction in 7. View reservations to access the Reservations page and choose the order you want to cancel.

(2) Tap [Cancel] at the top right-hand corner, enter your password, and the order will be cancelled.