||For Cash Investments
Generally, for Bond and Money Market funds, it will take T+4 business days for the money to be sent to you. For Equities, Balanced and other types of funds as stipulated in the prospectus, it will take T+6 business days for redemption proceeds to be sent to you. 'T' date is the day where your sell order is transacted. You will be notified of this via an email. There are 4 methods for us to credit the proceeds to you:
1) Cash Fund/Nikko AM Shenton ShortTerm Bond SGD:
When you sell a unit trust but want to wait before you buy another, you may park the sales proceeds in the Cash Fund or Nikko AM Shenton ShortTerm Bond SGD first.
You may indicate the 'Cash Fund/Nikko AM Shenton ShortTerm Bond SGD' as the redemption method when you sell. The sales proceeds will be used to buy into the Cash Fund/Nikko AM Shenton ShortTerm Bond SGD on the settlement date of the sell order.
To know more about the Cash Fund, click here
To know more about the Nikko AM Shenton ShortTerm Bond SGD, click here
2) Direct Credit into Bank Account:
Make sure your bank account details in your Investment Account are updated. We will arrange to send the cheque to your designated bank account on T+4 or T+6, whichever funds it applies to based on the above. Please note that the banks may take another day or two to complete the cheque clearance.
To update your bank account, go to My Investments > Update Account and click on 'Direct Credit Instruction'.
3) Cheque by mail:
We will mail out the cheque on T+4 or T+6. Mailing will take another 1 - 2 business days for the cheque to reach you. We will make out a cheque to the name based on your NRIC or passport name in your application, and mail it to your mailing address. Please ensure and update your mailing address personally should there be any changes.
For CPF-OA and CPF-SA Investments
For funds classified under 'Non-IA' status, the proceeds of your sale will be credited back to your CPF agent bank for CPF-OA and CPF Board for CPF-SA in approximately T+10 business days. For funds classified under 'IA' status, the proceeds of your sale will be credited back to your agent bank or CPF Board in approximately T+6 business days.
If there are no further investments made using CPF-OA for the next 2 months or so, the agent bank will credit your CPF-OA monies back to your CPF Investment Account at CPF Board. You will need to inform your agent bank personally should you require the CPF monies to be credited back into your CPF Investment Account at CPF Board before the end of 2 months. Once you have sold your funds purchased using CPF-OA, the redemption proceeds would be transferred to your CPF agent bank.
For SRS Investments
The redemption proceeds will be credited back into your SRS account with your CPF agent bank. You will receive the redemption proceeds in your CPF agent bank or SRS Operator (SRS) on T+4 business days for redemption of Bond and Money Market funds and T+6 for Equities, Balanced other types of funds as stipulated in the prospectus.