mFund - Frequently Asked Questions
mFund - Frequently Asked Questions
An mFund is an unlisted managed fund. Unlisted managed funds are not traded on the ASX, but are bought and sold through the mFund Settlement Service.
The mFund service allows investors to buy and sell managed funds directly with the fund managers via brokers.
You can find out more about mFunds in the ASX's mFund brochure
The mFund service allows investors to buy and sell managed funds directly with the fund managers via brokers.
You can find out more about mFunds in the ASX's mFund brochure
mFunds products allow investors to diversify their portfolio and gain exposure to additional asset classes through a familiar system.
The price of individual mFund units are set by the fund manager. Amscot charges a brokerage commissions on mFund transactions.
Each fund has differing minimum and maximum investment amounts and rules covering additional orders. See the fund's PDS for details.
Note that unit prices are indicative prices, shown from the last redemption price quoted by CHESS, which can be several days old.
Each fund has differing minimum and maximum investment amounts and rules covering additional orders. See the fund's PDS for details.
Note that unit prices are indicative prices, shown from the last redemption price quoted by CHESS, which can be several days old.
An mFund application is a buy order, the process of applying to purchase managed funds from the issuer through the unit registry.
Distribution Re-investment Plan
If the DRP option is selected, any distributions by the fund will be re-invested in the fund with units allotted to the client's HIN. If the DRP option is not-selected, distributions will be paid out to the client bank account that is configured for CHESS registration.
If the DRP option is selected, any distributions by the fund will be re-invested in the fund with units allotted to the client's HIN. If the DRP option is not-selected, distributions will be paid out to the client bank account that is configured for CHESS registration.
The process of redeeming all the units of one fund and using the proceeds to purchase the units in another fund, from the same issuer, in a single market transaction.
No, not all fund issuers support switches. Please see the PDS document from each mFund product for details.
In order to comply with the ASX's reporting obligations under the Foreign Account Tax Compliance Act (FATCA) all client's must disclose whether they are US citizens or US tax residents (for
individuals) and whether they are an entity other than a superannuation fund (for non-individuals).
Amscot clients can buy and sell mFund products through the accounts section of the My Amscot website.
Direct debit is required to enable fast and efficient processing of client orders when buying mFunds.