Account
Administration
1. How do
I open a Phillip Managed Account, and what is the minimum investment
required?
You may contact your personal Financial Advisor Representative or talk to any of our
representatives at our Phillip Investor Centres. They will take you through the necessary account opening process.
The minimum investment amount required is set out in the table below and it varies, depending on the account service that you select.
A foreign investor not residing in
Singapore
can also open an account, satisfying the
required
minimum investment amount with
Singapore
dollar equivalent in foreign
currency.
2. Can I invest using my SRS account?
Yes, all our account services are SRS approved.
3. Am I required
to top-up funds if my portfolio value falls below the minimum investment
amount?
No, you do not need to top up your account.
4. Can
I deposit additional funds into my account and how do I do so?
You can deposit additional funds into your account at any time in multiples of $1,000.
This can be done through various means (e.g. cheque, unit trust transfers, shares
transfer, telegraphic funds transfer,
electronic payment of shares, monthly investment
plan).
5. Can
I make partial cash withdrawal if I need cash urgently?
You can make partial cash withdrawal provided the portfolio value is maintained above the minimum investment amount.
Once we have received your written notice
for withdrawal, we will act to raise the necessary cash for remittance to you.
6. How
do I terminate my account and are there any penalties?
We do not impose any penalty on the termination of accounts. Once we have received
your written notice of termination and necessary instructions, we will proceed to close
your account according to your instructions. Please note that fees for shares transfer
to CDP or another sub-account will be borne by you.
7. How
can I monitor my portfolio?
You have online access to your account at any time via the secured log-in at http://www.fame8.com.
In addition, you will receive a monthly statement detailing your
portfolio valuation and securities holdings as well as a transaction listing of trades
done for the month.
8. What
should I do if I change my address?
You can advise us of any of the changes by filling up a 'Update of Personal Particulars' form and we will update your records accordingly.
9. What is the fee structure?
The fee structure for our PMA services is as follows:
a) An upfront fee of up to 3% is payable on the invested amount.
b) An annual management fee is payable in accordance with the fee structure set out in the table below and will be calculated and accrued daily based on the net asset value of the portfolio and charged to the account monthly in arrears.
In the event of closure of the account, management fee accrued up till and including the day of closure of the account will be payable.
c) A performance fee of 10% on returns in excess of an annual hurdle rate of 6% is payable and will be calculated and accrued daily based on the difference between the Daily Change in Net Asset Value and the Daily Hurdle Value.
“Daily Change in Net Asset Value” means the difference between the day’s closing Net Asset Value and the opening Net Asset Value; and
”Daily Hurdle Value” means the annual hurdle rate of 6% pro-rated daily and applied to the day’s opening
Net Asset Value.
The performance fee will be charged only on the earlier of the closure of the account or the end of the
calendar year.
Other fees chargeable include brokerage fees, clearing fees, dividends and rights processing fees, SGX access fees and GST charges. |
