Untitled Document
Licensed dealer and Financial Adviser   CPFIS Registered Investment Administrator
fundsupermart.com
 
FAQ

24. Security and Safety
1) Are the transactions secure?
2) How safe is my cash investment and in whose name will the investment be registered in?
3) In whose name will my CPF/SRS investments be registered in?
4) What if iFAST Financial Pte Ltd ceases as a business concern?
5) What if Fundsupermart.com ceases as a business concern?
6) Does Fundsupermart.com (FSM) send out physical statements for my investments? What if all of FSM records get wiped out? Will records of my investments be gone?
7) What if the fund house closes down?
8) What are the duties and responsibilities of a trustee of a fund?
9) What happen when the trustee goes into bankruptcy?
10) Whom do I contact should I need help?

Q: Are the transactions secure?

A: All transactions on Fundsupermart.com are processed with strict security using the Secure Sockets Layer (SSL) protocol, which is the security standard used by the world's top financial institution. It is verified by Verisign, the leading authority on Internet security.
 
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Q: How safe is my cash investment and in whose name will the investment be registered in?

A: Unit Trust - iFAST Financial Pte Ltd (iFAST) is licensed to provide custodial services for unit trusts and Singapore Government Securities (SGS). Custodial services include the safeguarding and administration of client assets and are subjected to regulatory requirements in the provision of such services. The unit trusts investments are registered in the name of iFAST Financial Pte Ltd - Client Trust. These units are segregated from the company’s assets.

SGS Bonds - SGS Bonds are registered under iFast Financial Pte Ltd - Client Holdings. They are held in a custodian account opened with OCBC Bank. The Bank also recognizes and acknowledges that the securities are held on trust by iFast For its customer

Cash Account – Cash account monies are deposited in a bank account opened with Standard Chartered Bank (SCB). This bank account is designated as a trust account, in which the monies on held on behalf of the customers and cannot be used to off set any debts owed by the company to the bank.
 
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Q: In whose name will my CPF/SRS investments be registered in?

A: For CPF-OA/CPF-SA/SRS units that are classified under Non-IA status, they will be registered under your name.

For CPF-OA/CPF-SA/SRS units that are classified under IA status, they will be registered under iFAST Financial Pte Ltd -Client Trust.
 
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Q: What if iFAST Financial Pte Ltd ceases as a business concern?

A: All assets are registered in the name of iFAST Financial Pte Ltd - Client Trust, and subject to MAS regulations. If iFAST Financial ceases as a business concern, your assets are protected. The creditors of iFAST Financial will have no claim over your assets.

In the unlikely event that iFAST Financial Pte Ltd closes down, iFAST will ensure that all liabilities and obligations to all clients have been fully discharged or provided for, and that proper arrangements have been put in place to ensure that our clients continue to be serviced by another licensed distributor. As for the cash account monies, it will be returned to the clients.
 
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Q: What if Fundsupermart.com ceases as a business concern?

A: Fundsupermart.com is owned by iFAST Financial Pte Ltd. As of January 2005, it is the largest non-bank distributor of unit trusts in Singapore. It also has prominent shareholders such as SPH AsiaOne, and DMG & Partners Securities Pte Ltd. In the unlikely event that iFAST Financial ceases as a business concern, with your permission, all your assets will be transferred to another distributor. Either that, or they will be returned to you.
 
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Q: Does Fundsupermart.com (FSM) send out physical statements for my investments? What if all of FSM records get wiped out? Will records of my investments be gone?

A: Physical statements will be sent out to you semi-annually. A monthly e-statement (in PDF format) will be sent to you if you have performed at least one transaction in the month. On top of that, you can easily view or retrieve any of your e-Statements for the past 12 months online under My Investments > View Monthly Statements .

The records of your investments are kept in various data centers in various locations within Singapore. You can be assured that your records will be safely stored.
 
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Q: What if the fund house closes down?

A: The assets of unit trusts are held separately on trust by the trustee for the benefit of the unit holders in the event that the fund manager does into liquidation, a meeting will be called by either the manager or the trustee for the purpose of determining an appropriate course of action. If a resolution is passed at the meeting, the trustee will take the necessary steps to wind up the fund. The trustee then has to ensure that the resultant proceeds have been distributed to participants in the same proportion as their holdings of unit.
 
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Q: What are the duties and responsibilities of a trustee of a fund?

A: Trustees are required, but not limited to:

  • Take into custody or control all the property of the fund and hold the property on trust for the participants.
  • Ensure that all the property of the fund is properly accounted for
  • Keep and maintain a register of the participants of the fund.
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    Q: What happen when the trustee goes into bankruptcy?

    A: In the event that the trustee of a fund becomes a bankrupt, the trustee is not allowed to use the investors’ holdings and monies to offset the trustee’s losses. The fund manager will appoint another approved trustee to take over as the new trustee.
     
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    Q: Whom do I contact should I need help?

    A: You may email your queries to clienthelp@fundsupermart.com

    For telephone assistance, you may call our helpdesk at 6557 2853, 9am to 6pm, Mondays to Fridays, (excluding Saturday, Sunday and public holidays).
     
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    For further assistance, call our helpline at 6557 2853 from 9am to 6pm on Mondays to Fridays (excluding weekends & public holidays).