What is Surplus Cash Facility?
- A service designed to allow your surplus cash works harder for you while waiting for your next investment.
- When account balance reaches HK$2,000, the facility will automatically invest the surplus cash into Phillip HKD Money Market Fund* (the “Fund”) after reserving HK$500 for general expenses.
- The facility will automatically redeem units of the Fund for shares payment or other investment purchases.
- Client can place withdrawal instruction through POEMS.
- The Fund has been authorized by the Securities and Futures Commission in Hong Kong*.
(Security Code Generator PHK Key required
Service Features
Maximise investment opportunities with surplus cash
Client could maximise return to surplus cash in their account and seek a higher rate of return as compared to personal deposits^. Please note that the return from the Fund is not guaranteed.
High degree of liquidity
The Fund invests primarily in HKD-denominated money market instruments, short-term (less than 1 year) debt securities and short-term deposits.
Seamless payment for your shares trades and other investments
Under Surplus Cash Facility, the units can then be automatically redeemed for settlement for stock and trading. Fund can also be transferred for other investments.
No lock-in period for your surplus cash
With Surplus Cash Facility, withdrawal and fund transfer instruction could be completed as soon as on the date of instruction.
No sales charges or administration fees
Surplus Cash Facility is a free service without extra sales charges or administration fees.
(Security Code Generator PHK KEY)required
What is Money Market Fund?
An open-ended unit trust / mutual fund that invests in short-term (less than 1-year), and low risk debt securities for liquidity.
- Investment objective is to preserve capital while providing higher yield.
- A low risk place to park your cash awaiting investment.
Why invest in Money Market Fund?
- Stability: Money Market Funds are generally less volatile and more defensive to market fluctuations than many other types of investments.
- Liquidity: Money Market Funds usually provide daily dealing. Assets are generally available on the same/by the next business day.
- Diversification: Money Market Funds invest in a pool of high quality, short duration debt securities which may reduce concentration risk, credit risk and interest rate risk of the portfolio.
- Professionalism: A convenient gateway to access professional capital management, rigorous credit and risk analysis and market research expertise of the fund manager.
- Yield: Money Market Funds aim to provide more competitive current income than cash and normal saving deposits.
- Flexibility: Money Market Funds generally have relatively low initial investment requirement and do not have minimum holding period.
(Security Code Generator PHK KEY required)
