12. Switching Funds – Support

How can we help?

What is switching?

Switching is a Sell and a Buy transaction. In some cases, investors may like to use one fund to purchase another fund. By doing a switch, you do not need to wait till you receive your proceeds to process the buy order. The process is faster compared to normal sell and buy transactions.

Please take note that the fees incurred for Intra fund house switches may be lower as compared to Inter fund house.

Currently there are 2 types of switching i.e. Intra Switch and Inter Switch.

Intra Switch involves switching between funds under the same fund management company; whereas Inter Switch involves switching between funds between two or different fund management companies.

Intra Switch is applicable to both cash investments and EPF investment. Inter Switch is only applicable to cash investments only.
What is the minimum initial investment of the fund I wish to switch into?

The minimum initial investment amount will apply if you are switching into a fund that you do not own. If you already have units of the fund that you are switching to, the minimum subsequent investment amount will apply.

As the switch buy order will be transacted after the switch sell order, you need to ensure that the redemption amount from the switch sell, based on the latest indicative NAV price, is at least 105% of the minimum initial or subsequent investment amount of the fund you are switching into. This is to ensure there is a buffer to the minimum initial or subsequent investment amount. Our system will prompt you if the amount is insufficient.

Example:

An investor wants to switch-sell of Fund A and switch-buy into Fund B, and Fund B has an initial investment amount of MYR 1,000.00. He or she needs to ensure that the number of units sold out from Fund A sums up to at least MYR 1,050.00 worth of proceeds.

How long is the switching process?

Can I switch freely between conventional funds and Shariah funds?

Yes, investors are allowed to switch freely between conventional funds and Shariah funds on FSMOne.

Except for Amanah Mutual Berhad, an investor is not allowed to switch sell the distributed units of his or her conventional funds into Shariah compliant funds managed under Amanah Mutual Berhad. However, the principal amount of conventional funds is allowed to be switched into Shariah funds.
What are the charges applicable to switching?

The relevant charges and lag time will be shown in your order cart just before you proceed to checkout.

Switch Type	Cash Investments	EPF Investments	Additional Remarks
Intra Switch	The switch-sell and switch-buy orders will be transacted on the same business day the order is received before 3.00 p.m. Otherwise it will be transacted on the next business day.	The switch-sell and switch-buy orders will be transacted on the same business day we received the fund house switching form before 3:00p.m. Otherwise it will be transacted on the next business day.	The whole process of an Intra switch (for BOTH cash and EPF Account 1 investments) will take three business days to complete after the transaction date (T) of the switch sell & buy funds (T+3 business days).
Inter Switch	For switch sell orders received on a business day before 3.00 p.m., orders will be transacted on the same business day. For orders received after 3.00 p.m. or on a non-business day, orders will only be transacted on the next business day. The switch-buy order will be transacted based on the lag time as described here. However, this lag time will be shorter than executing the sell and buy transactions on your own.	Not Applicable	The whole process of an Inter Switch transaction will take three business days to complete after the transaction date (T) of the switch buy funds (T+3 business days).