Mutual fund transactions

In your main ACCOUNT OVERVIEW, if you already have mutual funds, the action buttons will show another option then just the BUY-SELL options, being the SWCH button for a switch.

You can use the quick order buttons or press on the New Order button.

Buy:

The order entry screen will look as shown below.
For redemptions or switches of 10% Free Units (T), Mature Units (M) or the combination of the two (F) to be done via FundServ, please refer to the published list of authorized transactions per fund company on the PEAK Advisor web site.

You can select your action:

and an existing fund in your client’s account:

or select a new fund, by clicking on the Find button.

When clicking the FIND button, this screen will appear. The same screen will allow you to search for a fund by code or name. When you find the specific holding, just click on the name and the program will bring you back to the Order Entry Screen.

The settlement source should always be Dealer. The other settlement sources are not used at PEAK.

Our internal procedures are asking for cheques made to PEAK which we deposit in the client cash balance of the plan, even for a client name account. We also accept electronic deposits (OTP). If ever you have a cheque made to the Fund Company, contact the trade desk for further instructions. For client name accounts, we ask for the transaction to be done the same day as we cannot hold cash in a client name plan.

Intermediary accounts are not available at PEAK.

Therefore, the settlement source is Dealer, the amount should be Gross, and the Network type should be Wire to N$M (FUNDSERV), for nominee accounts as well as client name accounts.

For Front-end funds, the FE% Box will be accessible, and you will be able to indicate the Front-End commission you want, within the Fund company range for that particular fund.

Sell:

You will be able to sell all the units, some units, a dollar amount as well as the 10% free, mature units and all free units.

Just be aware that not all fund companies allow all types of redemptions to be done electronically.

Again, if the transaction is for a Nominee account, the Network type should always be Wire to N$M (FUNDSERV). If it’s for a Client Name or Third Party account, the Network type should always be Wire to FUNDSERV.

Switches:

The last type of action that you will be able to perform, will be switching funds within the same Fund Company.

Again, you will be able to sell all units, some units, a dollar amount as well as 10% free, mature units and all free units.

The Switch out drop-down list will allow you to find the holding you want to transfer out, and the Find button beside the Switch in will allow you to find, like the buy action, a new fund that doesn’t already exist in your client portfolio, or by using the drop-down list select an existing fund.