Notice: Temporary trading halt - Amundi Prime USA

 

Amundi is conducting an exercise to consolidate the share classes of funds which may be part of your Endowus investments.

This exercise will require a temporary halt on the trading of the Amundi Prime USA fund (“the fund”) between 29 Feb to 5 Mar 2023.

Please note that this fund is included in the Flagship Portfolio for Cash, CPF & SRS.

This temporary halt will not have an impact on your current holdings in these funds.

Details of affected funds and share class:

Affected Fund ISIN Share Class of Fund
Amundi Prime USA Fund LU2420245594 USD, Accumulating
Amundi Prime USA Fund LU2420246055 SGD, Accumulating

 

How will this halt affect me?

Transactions in the Amundi Prime USA Fund placed between 29 Feb to 5 Mar 2024 will be displayed as “Processing” on the Endowus platform, but will only be executed on the next valid trade date on 6 Mar 2024. 

For the Endowus Flagship Portfolios and other multi-fund Portfolios that include the affected fund(s), transactions for the other funds in the Portfolio will be placed as per normal. However, you may expect to see a longer “Processing” time as the transaction will only be marked as “Completed” upon the settlement of the affected fund(s). 

Clients investing their CPF OA into the Endowus Flagship Portfolio, please note that as the trade will be carried out in two tranches. This will result in two separate transaction fees from your CPF IA agent bank: one on the day of your trade and another on March 6, 2024, for the specific fund involved.

When can I make my last investment or redemption?

The last investment and redemption for the affected funds will take place on 28 Feb 2024 (subject to daily cut-off timings) before the temporary halt, with the next available date for investment and redemption to resume from 6 Mar 2024. 

Transactions placed after the relevant Cash, CPF and SRS daily cut-off times on 28 Feb 2024 to 5 Mar 2024 will be under the “Processing” status and thereafter executed on 6 Mar 2024. This will affect all funding sources associated with this fund. 

How will my recurring investments be impacted during this period for the affected funds?

The recurring investment or transfer between goals will still be processed if there is sufficient cash balance in your Endowus account, or CPF/SRS accounts. However, investments in the Amundi Prime USA Fund will only be executed on 6 Mar 2024. Transactions into the other funds within a Portfolio will continue normally without any impact. As such, you will expect to see a longer “Processing” time as the transaction status, with it being marked as “Completed” only upon settlement of the affected fund.

Can I still make redemptions from these affected funds? 

Redemptions made before cut-off on 28 Feb 2024 will be unaffected and processed normally. Redemption requests received after the relevant Cash/ CPF/SRS cutoff timings on 28 Feb 2024 to 5 Mar 2024 will continue to be processed but will only be executed on 6 Mar 2024.

Will the auto-rebalancing feature on my portfolio be affected?

Auto-rebalances triggered from 28 Feb 2024 (after daily cut-off timings) to 5 Mar 2024 will take longer to complete. 

 

If you have any inquiries regarding this share class consolidation, please feel free to reach out to our team at support@endowus.com



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