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Dealing
Dealing
WHAT IS SYSTEMATIC INVESTMENT PLAN (SIP)?
SIP is a periodical investment plan, in which investors will transfer a pre-determined capital amount (monthly or quarterly) to purchase fund shares.
BENEFIT OF SIF
- Exemption of subscription fee
- Maximize of long-term capital return
- Maintain investment discipline
- Investor’s average cost of investment per Fund Unit is lower than average selling price, regardless of the fluctuations of fund certificate price
|
Quarter |
Price (NAV/Fund Unit) |
Amount Invested |
Number of Fund Certificates distributed |
|
1 |
10,000 |
3,000,000 |
300 |
|
2 |
12,000 |
3,000,000 |
250 |
|
3 |
15,000 |
3,000,000 |
200 |
|
4 |
11,000 |
3,000,000 |
272.72 |
|
Total |
|
12,000,000 |
1022.72 |
Investor’s average cost of investment per Fund Unit is: 12,000,000/1,022.72 = 11,733 VND/Fund Unit
Average Selling Price/Subscription Price= (10,000 + 12,000 + 15,000+ 11,000)/4 = 12,000
SIP OVERVIEW
|
INVESTMENT FREQUENCY |
Monthly or Quarterly |
|
INVESTMENT AMOUNT |
Minimum VND500,000 per month or VND1,500,000 per quarter. |
|
MINIMUM INVESTMENT DURATION |
Minimum of 12 continuous payment period for monthly SIP or 4 continuous payment periods for quarterly SIP* |
|
CUT-OFF TIME |
5:00 p.m. on the tenth of every month (for monthly SIP) or on the tenth of January, April, July and October (for quarterly SIP). If the tenth day falls on a public holiday, the payment deadline will be at 5:00 p.m. the working day preceding the tenth (for monthly SIP) or the working day preceding the tenth of January, April, July and October (for quarterly SIP). |
|
DEALING DATE |
Dealing date is the closest dealing date after the 10th of each month (monthly SIP) or on the 10th of January, April, July and October (quarterly SIP). |
* If Investor discontinues SIP before the minimum investment duration, when selling the Fund units or switch to other funds, Investor shall pay an exit fee of 0.75% of the redemption amount or the switch-out amount in addition to the normal Redemption Fee/Switching Fee.
FLEXIBLE SIP OVERVIEW
|
INVESTMENT FREQUENCY |
Monthly |
|
INVESTMENT AMOUNT |
Minimum VND500,000 per month and not required to pay a fixed amount each period. The Investor can invest any amount equal to or larger than the minimum requirement, the amount can be changed at any period. |
|
MINIMUM INVESTMENT DURATION |
No participation duration. |
|
CUT-OFF TIME |
Date of payment could be any working day of the month. |
|
DEALING DATE |
Dealing date is the nearest date after the Fund receives money for the Flexible SIP of the Investor (thus, every dealing date could be a SIP date). |
* Note: - Amount of order allotment is one (01) order/ month, alloted on the nearest Dealing date (after the money is credited to the Fund's account) for the total amount the Fund receives up to that date.
- The Flexible SIP is discontinued after three (03) months since the last subcription transaction of investors.
INVESTMENT GUIDE FOR FOREIGN INVESTORS
|
|
INSTRUCTION |
NOTES |
|
STEP 1 |
Apply for Securities Trading Code |
Application submitted to Vietnam Securities Depository (VSD) – contact SSI Securities Corporation (SSI) for assistance. |
|
STEP 2 |
Open Foreign Indirect Investment Capital Account |
Application submitted to any commercial banks in Vietnam |
|
STEP 3 |
Open an open-ended fund trading account |
At SSI or any designated distributors of SSI-SCA. |
SIP SUBSCRIPTION ORDER
| INSTRUCTION | NOTES | |
| STEP 1 | Transfer of SIP Subscription money from the Indirect Investment Capital Account |
Monthly or quarterly. Make sure investment capital is transferred to the Fund’ designated account before 17:00 on the 10th of each month (monthly SIP) or on the 10th of January, April, July and October (quarterly SIP) Transfer Details: Beneficiary: SSISCA Bank account: in accordance to each Distributor’s At Bank: Standard Chartered Bank (Vietnam) Limited Transfer amount: The registered SIP subscription amount Description: [Investor Name][Open-ended Fund Account Number] buy SIP SSISCA
|
| STEP 2 |
Complete SIP Subscription Form and submit to Distributor. |
Before 14:40 on Day T-1 |
| STEP 3 | Receive transaction confirmation | Within 03 working days after Dealing Date (Day T) |
FUND BANK ACCOUNT AT SUPERVISORY BANK
Investor transfers SIP investment capital to the bank account associated with the Distributor at which their open-ended fund trading account was registered.
|
|
DISTRIBUTOR |
ACCOUNT NUMBER |
|
1 |
SSI |
90275350212 |
|
2 |
SSIAM |
90275350214 |
|
3 |
VCBS |
90275350215 |
|
4
|
MAS
|
90275350220 |
| 5 | FINCO | 90275350223 |
| 6 | TVS | 90275350222 |
INVESTMENT GUIDE FOR FOREIGN INVESTORS
|
|
INSTRUCTION |
NOTES |
|
STEP 1 |
Apply for Securities Trading Code |
Application submitted to Vietnam Securities Depository (VSD) – contact SSI Securities Corporation (SSI) for assistance. |
|
STEP 2 |
Open Foreign Indirect Investment Capital Account |
Application submitted to any commercial banks in Vietnam |
|
STEP 3 |
Open an open-ended fund trading account |
At SSI or any designated distributors of SSI-SCA. |
TRADING OVERVIEW
|
SUBSCRIPTION AMOUNT |
Minimum VND500,000 |
|
REDEMPTION |
No minimum requirement |
|
DEALING DATE |
Every working day (Day T) |
|
CUT-OFF TIME |
14:40pm on Day T-1 |
DEALING INSTRUCTIONS
SUBSCRIPTION ORDER
|
|
INSTRUCTION |
NOTES |
| STEP 1 | Transfer of Subscription money from the Indirect Investment Capital Account |
Before 17:00 on Day T-1 Transfer Details: Recipient: SSISCA Bank account: in accordance to each Distributor’s At Bank: Standard Chartered Bank (Vietnam) Limited Transfer amount: The registered subscription amount Description: [Investor Name][Open-ended Fund Account Number] buy SSISCA
|
|
STEP 2 |
Complete Subscription Form and submit to Distributor.
|
Before 14:40 on Day T-1 |
|
STEP 3 |
Receive transaction confirmation |
Within 03 working days after Dealing Date (Day T) |
FUND BANK ACCOUNT AT SUPERVISORY BANK
Investor transfers investment capital to the bank account associated with the Distributor at which their open-ended fund trading account was registered.
|
|
DISTRIBUTOR |
ACCOUNT NUMBER |
BENIFICIARY NAME AND BENIFICIARY BANK |
|
1 |
SSI |
90275350203 |
Benificiary name: SSISCA
Benificiaty bank: Standard Chartered Bank (Vietnam) Limited
|
|
2 |
SSIAM |
90275350205 |
|
|
3 |
VCBS |
90275350204 |
|
|
4 |
ACBS |
90275350206 |
|
|
5 |
HSC |
90275350207 |
|
|
6 |
MBS |
90275350208 |
|
|
7 |
VNDIRECT |
90275350209 |
|
|
8 |
BVSC |
90275350211 |
|
|
9
|
CSI | 90275350216 | |
|
10 |
FINCO |
90275350218 |
|
|
11
|
MAS
|
90275350219 | |
| 12 | TVS | 90575350221 | |
| 13 | VGS | ||
| 14 | VPS |
REDEMPTION ORDER
|
|
INSTRUCTION |
NOTES |
|
STEP 1 |
Complete Redemption Form and submit to Distributor |
Before 14:40 on Day T-1
|
|
STEP 2 |
Receive Trading Confirmation |
Within 03 working days after Dealing Date (Day T) |
|
STEP 3 |
Receive Redemption Payment |
To Investor’s Indirect Investment Capital Account within 05 working days after Dealing Date (Day T) |
TAXES APPLIED FOR FOREIGN INVESTORS
|
Investors |
Tax on Investor arising from |
||
|
|
Dividend payment |
Redemption Fund Unit |
Gift/Inheritance |
|
Residential individuals |
5% |
0.1% of transaction value (1) |
10% of securities value higher than VND 10 million |
|
Non-residential individuals |
5% (1)(2) |
0.1% of transaction value (1) |
10% of securities value higher than VND 10 million |
|
Foreign Institutions |
- Exempt if distributed dividend are after tax-profit - 22% from 1/1/2014 and 20% from 1/1/2016 if tax-profit has not been deducted (1) |
0.1% of transaction value (1) |
0.1% of transaction value (1)(3) |
(1) Tax withheld at source.
(2) An individual is not required to pay personal income tax when receiving dividend of stocks/fund units but shall pay the income tax for capital investment and securities transfer when transferring these stocks (Point d, Clause 2, Article 11 Circular 111).
(3) There is no specific regulation on taxation of foreign institutional investors receiving gift/inheritance in the form of securities. However, giving gift/inheritance shall result in the transaction of securities transfer. Under the Decision 218, tax rate of 0.1% of the securities transfer value shall be applied. Accordingly, Investors may have to pay for the tax rate of 0.1% transaction values when receiving gift/inheritance.
