Fundsupermart New Pricing Structure: Platform Fee??

[makoshark]

You all could be missing the forest for the trees!
Why are you all so obsessed with staying or moving to any platform when the world is ending?
Sell, sell, sell.

[monosign]

Now, promotion sales charge is 0.75% from poems, while AvivaDirect offers 1%. But, ...why there is no promotion from DD..never has???

[penumbra]

fundsupermart promotional sales charge of 0.75% are off now. looks like poems is the most cost-saving ut distributor now.

[monosign]

New promotion at fundsupermart: 0.75% for 51funds, and 0.85% for all other funds. As a long term investor, I dont want to pay many many hundreds dollars for platform fee PER YEAR. Because it is a PERMaNENT CHARGE.

I have an account at poems for many years (for trading stocks), I am afraid that the sales charge of UT may go back to 2.5% after promotion time.

So I have sold my funds in fundsupermart and plan to buy back at DD.
BUT it seems no promotion from DollarDex at all.

[TBFF]

Received notification that my 2 UTs have been successfully received by DD from FSM. Also received notice from FSM on the transfer of 1 more UT (4 more to go!) I wonder why they had to do it piecemeal?

[ghchua]

New promotion at fundsupermart: 0.75% for 51funds, and 0.85% for all other funds. As a long term investor, I dont want to pay many many hundreds dollars for platform fee PER YEAR. Because it is a PERMaNENT CHARGE.

I have an account at poems for many years (for trading stocks), I am afraid that the sales charge of UT may go back to 2.5% after promotion time.

Why are you having this misconception? The normal sales charge at Fundsupermart for equity funds is 1.5% without promotion with the new pricing structure. Unless you are telling me that they are going to hike their sales charge back to 2.5%, which is quite impossible with the implementation of platform fees.

[monosign]

Why are you having this misconception? The normal sales charge at Fundsupermart for equity funds is 1.5% without promotion with the new pricing structure. Unless you are telling me that they are going to hike their sales charge back to 2.5%, which is quite impossible with the implementation of platform fees.

Sorry for misunderstanding...I am asking "what is the normal sales chage at POEMS?"
I have already deleted "fundsupermart" from my list because of platform fee...

[mahojazz]

anyway, poems sales charge is 1.5%, not 2.5%. In fact, when FSM sales charge is at 2%, poems is at 1.5%. Just that FSM has more UT. Using poems account has a good point as, you can trade shares, ETF and unit trust all with one account. FSM cash fund returns is getting close to normal bank deposit. Not really worth to park your spare cash there anymore.

[momo]

Received notification that my 2 UTs have been successfully received by DD from FSM. Also received notice from FSM on the transfer of 1 more UT (4 more to go!) I wonder why they had to do it piecemeal?

Hi TBFF,

May I ask, for "a copy of the latest Statement of unit holdings from Transferor/ fund house", is it ok to just print from FSM's "View Holdings" website (Hmm but there's no name on View Holdings... How about printing the latest monthly statement, plus View Holdings?)?

And at the bottom of the first page of the Transfer Authorisation Form, are the "witness" fields required to be filled?

Thanks.

[ghchua]

anyway, poems sales charge is 1.5%, not 2.5%. In fact, when FSM sales charge is at 2%, poems is at 1.5%. Just that FSM has more UT. Using poems account has a good point as, you can trade shares, ETF and unit trust all with one account. FSM cash fund returns is getting close to normal bank deposit. Not really worth to park your spare cash there anymore.

With the introduction of platform fees, FSM normal sales charge is now 1.5% and not 2% as you have stated.
http://www.fundsupermart.com/main/resea ... cleNo=3992

[TBFF]

Received notification that my 2 UTs have been successfully received by DD from FSM. Also received notice from FSM on the transfer of 1 more UT (4 more to go!) I wonder why they had to do it piecemeal?

Hi TBFF,

May I ask, for "a copy of the latest Statement of unit holdings from Transferor/ fund house", is it ok to just print from FSM's "View Holdings" website (Hmm but there's no name on View Holdings... How about printing the latest monthly statement, plus View Holdings?)?

And at the bottom of the first page of the Transfer Authorisation Form, are the "witness" fields required to be filled?

Thanks.

Yes, that what I did - printed a copy of the webpage containing my holdings from FSM.

I left the witness fields blank.

[Hulumas]

I just wonder, how does Fundsupermart charge its platform fee?

[autumn]

I just wonder, how does Fundsupermart charge its platform fee?

According to their FAQ, it will be deducted either from the cash fund, or the best performing fund of your portfolio if you do not have sufficient cash fund.

[autumn]

Finally received the email notification from FSM regarding my transfer out. I think this is for the transfers out to POEMS.

Yet to receive the notifications of the transfers to DD, though I sent the DD's transfer forms first.

Just noticed this statement in FSM's transfer out notification:

Please be advised that the external transfer process of your holdings from Fundsupermart.com to another distributor may take 1 to 2 months to complete.

So it might take up to 2 months since the notification is received. If you want to transfer, act quickly.

[starlight1968sg]

I have yet to receive any notifications! I can still see my holdings in FSM.

[TBFF]

I have yet to receive any notifications! I can still see my holdings in FSM.

Suggest you call them up to check. Mine is all transferred except one fund left.

[vader1671]

Hi guys,

I've finally stopped procrastinating and am going to transfer my monies out of FSM. However, should I transfer to POEMS or DD? I've opened an account with both.

POEMS has all the funds I have while DD doesn't (Infinity Series). However, DD seems to have a better look and feel. POEMS seems positively ancient.

I'm leaning towards POEMS though. Their sales charge seems to be slightly lower and they seem to have regular promotions. What do you guys think?

Thanks

[penumbra]

there is still a distinct pro & con between DD & POEMS. the following should be your consideration factor.

if you are balancing your portfolio by purchasing new/additional ut, go for POEMS (lowest sales charge!).
if you are balancing your portfolio mostly by switching your current ut, go for DD (free switching!).

[makoshark]

Hi guys,

I've finally stopped procrastinating and am going to transfer my monies out of FSM. However, should I transfer to POEMS or DD? I've opened an account with both.

POEMS has all the funds I have while DD doesn't (Infinity Series). However, DD seems to have a better look and feel. POEMS seems positively ancient.

I'm leaning towards POEMS though. Their sales charge seems to be slightly lower and they seem to have regular promotions. What do you guys think?

Thanks

Sell.

[newbie_george]

Hi guys,

I've finally stopped procrastinating and am going to transfer my monies out of FSM. However, should I transfer to POEMS or DD? I've opened an account with both.

POEMS has all the funds I have while DD doesn't (Infinity Series). However, DD seems to have a better look and feel. POEMS seems positively ancient.

I'm leaning towards POEMS though. Their sales charge seems to be slightly lower and they seem to have regular promotions. What do you guys think?

Thanks

hi vader1671,
if i were u, i will choose poems. i can get used to the ancient look.
i place more emphasis on the sales charge.

[junior]

I too have recently opened an account at DD. Been using POEMS for a couple of years now. Maybe I am not familiar with the website, but I think DD too is very cluttered. There are so much information such as your account particulars, terms and conditions, etc, being displayed, every time, juz to make a single transaction. Kind of like information overload.....somehow tend to appreciate POEMS better now. The next step is to finalise the paperwork to get all my UTs transferred from FSM to both POEMS/DD.....sigh...why FSM must give so much headache !!!

[vader1671]

there is still a distinct pro & con between DD & POEMS. the following should be your consideration factor.

if you are balancing your portfolio by purchasing new/additional ut, go for POEMS (lowest sales charge!).
if you are balancing your portfolio mostly by switching your current ut, go for DD (free switching!).

Hi,

The way I did it at FSM was to place a huge chunk of change in their Cash Fund. I would then transfer the monies to whatever UT I wanted to purchase. FSM charged me for that since I was switching from a 0% charge fund to a chargeable fund.

So I'm guessing I should go the POEMS route.

[newbie_george]

I too have recently opened an account at DD. Been using POEMS for a couple of years now. Maybe I am not familiar with the website, but I think DD too is very cluttered. There are so much information such as your account particulars, terms and conditions, etc, being displayed, every time, juz to make a single transaction. Kind of like information overload.....somehow tend to appreciate POEMS better now. The next step is to finalise the paperwork to get all my UTs transferred from FSM to both POEMS/DD.....sigh...why FSM must give so much headache !!!

to be frank with u guys, until now i m still using Windows XP and Microsoft Office 2003. i still dunno how to use the new Office 2007. in fact i would prefer poems, although it is stone age.

got 2more pros on POEMS much better than any other unit trust distributor i can share with u guys:
1) POEMS adopt a buy first pay later concept similar to buying of shares.
For example, if u wana buy a XYZ fund today, but u still have not put in ur cash. u can submit ur order first today, then pay later T+3 i think. Hence ur buy price is today!

2) Loading of POEMS page at unit trust is quite fast. Faster than DD. Bcos it does not involve whatsoever java, Browser applet, etc...

- POEMS unit trust portfolio page latest pricing is updated at 7pm. Same as DD i think. Only >= 7pm, then u will see today's latest pricing.
-FSM updates the pricing at 6pm, 1hour earlier. ---> But this point is very insignificant.

--- Although me personally knows a lot on unit trust, i have zero unit trust in cash as of today.

[momo]

Sh!t, I transferred to AvivaDirect but now the net investment amount is based on the transfer in value. Anyone transferred to AvivaDirect and managed to get them to manually change the net investment amount in their system afterwards?

[momo]

Sh!tty. I just called AvivaDirect and Navigator and they say they can't change the investment amount. What crap is this... Anyone managed to fix theirs?

Do DollarDex users experience this sh!t?