Price of investment transaction
For cash investment orders confirmed before 12.30PM on a valid business day, we will endeavour to submit the orders to our partner broker UOB Kay Hian for execution on the same business day (T). You can assume that the transaction has taken place at the Fund's Net Asset Value ('trading price') of that day. The illustration below is an estimated timeline of how cash investment orders will be executed:
The transaction will be reflected as 'Completed' on the Endowus platform once we receive the final broker confirmation regarding the transaction. Generally, you can expect the transaction to be completed in 3-4 business days.
*Please note that there are 6 funds that are an exception to this and the trading price will be locked in after an additional day.
CPF-OA / SRS Investments
For CPF-OA / SRS investment orders confirmed before 8.30AM on a valid business day, we will endeavour to submit the investment orders to our partner broker, UOB Kay Hian, on the same day for execution on the next business day (T).
The illustration below is an estimated timeline of how CPF-OA / SRS investment orders will be processed:
UOB Kay Hian has to verify with your Agent Bank whether 1) there is sufficient money in your CPF-OA / SRS account and 2) your account number is correct.
Once verified, your CPF / SRS funds will be invested on the following valid business day (T). If there are insufficient funds in your CPF-OA / SRS account or your account number is incorrect, your investment order will be rejected and you will be notified.
The transaction will be reflected as 'Completed' on the Endowus platform once we receive the final broker confirmation regarding the transaction. Generally, you can expect the transaction to be completed in 4-5 business days.
Price of investment transaction
Unit trusts or mutual funds work on a 'forward pricing' basis. A unit trust only has one Net Asset Value (NAV) or 'trading price' per trading day. Generally, a Fund's trading price is calculated at the end of each trading day based on the closing market prices of the Fund’s securities. As the trading price is only known at the end of the trading day, you would not know the exact purchase price at the point of confirming the investment order.
When an investment transaction is reflected as "Completed", you can check the purchase price of each unit trust by following these steps: Go to the Activity page > Click on a transaction and the transaction details will be displayed.
Valid Business Day
Your trades are executed on a best-effort basis on a valid business day, which excludes Singapore public holidays and Fund Holidays (as declared by the individual Fund Managers).
One main determinant of a Fund Holiday is the domicile of the Fund (the country where the fund is incorporated). As a general rule, most of the declared Fund Holiday falls on the respective public holidays in the specific country. For instance, if a Fund is domiciled in Ireland, as St Patrick’s Day falls on 17th March, the fund’s NAV will not be calculated on 17th March.
Please note that the cut-off time for placing cash investments order may be earlier than 12:30pm if a valid business day falls on the eve of a public holiday.
*Please note that UOB Kay Hian will need to await confirmation from the CPF Agent Banks on whether there is sufficient funds in your CPF OA before placing the orders with the Fund Management Companies. If there are delays, the orders will only be sent after UOB Kay Hian receives the confirmations from the CPF agent banks.
The following six funds will require an additional day for processing:
- IE00BD0NCN62 (AI only)- BlackRock iShares Developed World Index Fund (IE) (D Acc USD)
- IE00BYWYC907 (AI only) - BlackRock iShares Emerging Markets Index Fund (IE) (D Acc USD)
- IE00BHXGRN56 (Cash/SRS) - Neuberger Berman China Bond Fund (A SGD Monthly Inc)
- LU2420246212 (Cash/SRS) - Amundi Index Global Agg 500m Fund
- LU2420245917 (Cash/SRS) - Amundi Index MSCI World Fund
- LU2420246139 (Cash/SRS) - Amundi Index MSCI Emerging Markets Fund
- IE00BL0BL405 (AI only) - Goldman Sachs Sterling Liquid Reserves Fund
- IE00B96CNN65 (AI only) - Goldman Sachs Euro Liquid Reserves Fund
- IE00BL0BL736 (AI only) - Goldman Sachs US$ Treasury Liquid Reserves Fund
- IE00BHC9JR32 (AI only) - Goldman Sachs US$ Liquid Reserves Fund