We use cookies to improve site performance and enhance your user experience. If you continue to use this site, you consent to our use of cookies on this device in accordance with our cookie policy, unless you disable them. Accept Cookie
Choose your language |  Chinese
ifastgp.com | Global
  • normal
  • larger
  • largest
    About Us   Products   Value Proposition    
 
 
PRODUCTS
 Account Type
 Product
Parking Facilities
 
PARKING FACILITIES

iGP offers various parking facilities for clients to temporary park their monies before putting in any investment transactions. Client can choose to park their money in the Cash Account, Cash Fund or money market funds on the iGP platform.

What is Cash Account?

Cash Account is a cash management facility which facilitates transactions of funds and other investment products on iGP platform.

It allows clients to make payment for their investment transactions immediately, and earn interest on the monies deposited in the Cash Account.

All investment account holders will automatically be given a SGD and USD cash account. There are no monthly charges and minimum balance requirements for the Cash Account. The Cash Account balance and transactions can be viewed and performed online.

iGP consolidates the monies deposited by all clients in the Cash Account and deposits the monies with a licensed bank in Singapore. The monies in the client's Cash Account can be used to pay for their investment transactions immediately. Interests paid by the bank are passed on to the clients after deducting a nominal administrative fee. However, please note that the Cash Account is not a savings account and is therefore not included in the Deposit Insurance Scheme.

Transactions via the Cash Account can be executed within a much shorter time as compared to other payment methods. Thus, it increases efficiency and provides greater convenience.

Cash Fund

The Cash Fund is a cash deposit fund exclusive to iFAST. It is professionally run by a Fund Manager. Monies from investors are all consolidated into the fund, and the Fund Manager places out the monies in various fixed deposits with several banks. Because of the economies of scale and professional management, the net interest rate on the Cash Fund tends to be higher than that of the iFAST Cash Account, while retaining all the advantages of the iFAST Cash Account in terms of the ease in transaction and liquidity.

Money Market Funds

There are over 5 money market funds denominated in various currencies on the iGP platform.

Keep cash readily accessible with iGP multi currency money market funds, denominated in 4 major currencies - EUR, GBP, SGD and USD!

Money market funds offer the following benefits:

  • Minimal lag time for transactions
    Clients can park their monies temporarily in money market funds before they decide on their investments. As and when the opportunity arises, clients can make their investment promptly by switching from the money market funds into other funds or investment products with no or minimal time lag.

  • Potentially better returns than bank deposits
    The returns on money market funds are potentially higher than saving accounts, as they invest in higher yielding short-term money market instruments.

  • Highly liquid
    Money market funds are very liquid. Clients will be able to cash out money from the money market funds within a short time period, e.g., T+1 day.

 
 

Home  |   Sitemap  |   Disclaimer  |   Contact Us  |   S&P Disclaimer  |   CUSIP Disclaimer  |   Morningstar Disclaimer  |   HKEX Disclaimer  |   Investment Account Terms & Conditions  |   Important Notes for Transactions
.: iFAST Global Prestige is a division of iFAST Financial Pte Ltd. iFAST Financial Pte Ltd is a licensed dealer, custodian, financial adviser, CPFIS registered investment administrator, and provides portfolio management services in Singapore. :.
.: iFAST Financial Pte Ltd is a member of SGX-ST Securities Trading and CDP Securities Clearing, and a registered CDP Depository Agent. | Co. Reg. No. 200000231R © 2019 :.
.: S&P ratings, Copyright © 2019, S&P Capital IQ (and its affiliates, as applicable). All Rights Reserved. :.
.: Copyright © 2019, American Bankers Association CUSIP Database provided by the S&P Capital IQ LLC. All Rights Reserved. :.