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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 SIP
- 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
FIXED SIP
|
INVESTMENT FREQUENCY |
Monthly or Quarterly |
|
INVESTMENT AMOUNT |
Minimum VND10,000 per month or VND30,000 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
|
INVESTMENT FREQUENCY |
Monthly |
|
INVESTMENT AMOUNT |
Minimum VND10,000 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 subscription 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: SSI-SCA 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 |
SIP TYPE |
|
1 |
SSI |
90275350212 |
FIXED SIP |
|
2 |
SSIAM |
90275350214 |
FLEXIBLE SIP |
|
3 |
VCBS |
90275350215 |
FIXED SIP |
|
4
|
MAS
|
90275350220 | FIXED SIP |
| 5 | FINCO | 90275350223 | FIXED SIP |
| 6 | TVS | 90275350222 | FIXED SIP |
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 VND10,000 |
|
REDEMPTION |
2 Units |
|
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: SSI-SCA 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: SSI-SCA
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 |
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 111/2013/TT-BTC).
(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.
