USD Mutual Funds for Non-RDN Corporate Clients – How to Invest and Key Things to Consider

1. Who can invest in USD-denominated Mutual Funds through FUND Corporate by Mirae Asset?

Currently, USD-denominated Mutual Funds are available only to Institutional Clients with a Non-RDN account type.

Payments are made via bank transfer in accordance with the applicable transaction terms and conditions.

Going forward, USD-denominated Mutual Fund subscriptions are also planned to be available for Institutional Clients with an RDN account type through FUND Corporate by Mirae Asset.

2. Can USD Mutual Funds only be purchased using a USD bank account?

No. USD Mutual Funds can be purchased using either a USD-denominated or IDR-denominated bank account.

If the transaction is made from an IDR account, the sending bank will convert the funds into USD based on the applicable exchange rate at the time of the transaction.

3. How do subscription and redemption transactions work for USD Mutual Funds on FUND Corporate by Mirae Asset?

You can read the complete guide on how to subscribe to and redeem USD Mutual Funds here.

4. When will a subscription transaction be processed?

Subscriptions completed before 12:00 PM WIB will be processed using the NAV applicable on the same business day.

Subscriptions completed after 12:00 PM WIB will be processed using the NAV applicable on the next trading day.

5. How are USD Mutual Fund redemption proceeds paid?

USD Mutual Fund redemption proceeds can only be transferred to the client’s registered USD bank account on FUND Corporate by Mirae Asset.

6. Do clients need to register a USD bank account to transact in USD Mutual Funds?

Yes. A USD bank account is required to receive the proceeds from USD Mutual Fund redemptions.

If the client previously only had an IDR bank account registered with Mirae Asset, a USD bank account can be added when making the first USD Mutual Fund subscription through FUND Corporate by Mirae Asset.

7. Are there any fees for redemption?

USD 0 transfer fee if the receiving bank is the same as the Mutual Fund’s collection bank, Bank DBS.

Starting from USD 15 transfer fee if the receiving bank is different from the Mutual Fund’s collection bank, subject to the bank’s applicable terms and conditions.

8. Which bank account will receive the redemption proceeds?

Redemption proceeds will be transferred to the investor’s registered USD withdrawal account recorded with Mirae Asset.

The withdrawal account must be denominated in USD and registered under the investor’s name.

9. Is there a minimum remaining balance requirement after redemption?

Clients may redeem all units held if the redemption transaction is submitted based on the total number of units owned.

10. What happens if there is an operational or settlement issue?

Mirae Asset’s Operations Team and the assigned Investment Specialist/Relationship Manager will assist with the coordination and resolution process in accordance with the applicable procedures.

Consult with our Investment Specialist (click here)

Start investing now on M-FUND Corporate by Mirae Asset (click here)