Q: What kind of fees do I need to pay when I buy funds with "FSM Smart" account?
A: A wrap account in nature, "FSM Smart" grants you the greatest flexibility in portfolio management, with 0% initial sales charge on all funds and unlimited free switches across all fund houses. Platform Fee is the only fee that you need to pay. Please refer to our fee structure below.

  Asset Range Annual Platform Fee
On the First HKD 500,000 0.9%
On the Next HKD 500,000 0.85%
On the Next HKD 9,000,000 0.75%
Remainder -- 0.5%

Other service charges that you may take note:

Transfer Fee

From Transfer to Fee
FSM Smart Account FSM Basic account
(among the accounts of the same Main Account Holder)		 1.5 % transfer fee will be levied
(calculated according to the market value of the transferred - out holdings).
Other distributors/bank

  • Quarterly minimum charge: A minimum charge of HKD240 per quarter will be levied even if you have no holdings under "FSM Smart".

Besides, investors should note that a fund may incur other charges from the fund manager. This may include annual management fee and other administrative fees that are incurred in the running of the fund.
Q: How to calculate the Platform Fee?
A: Platform Fee is calculated at a percentage per annum (refer to the above Fee Structure Table) of the aggregate value of the Customer's investment in Securities and any balance in the Cash Account, and subject to a minimum charge of HKD240 per quarter. The subject fee will be deducted quarterly from client's cash account in FSM.

Average daily asset = (total amount of investment in securities + cash balance)/ number of days in the quarter
Platform Fee = Average daily asset value x quarterly fee (0%)
Q: Will the Platform Fee be imposed if I do not have any holdings in my "FSM Smart" account?
A: The minimum charge of HKD240 per quarter will be imposed even if there are no holdings in the "FSM Smart" account.
Q: How will the fee be deducted?
A: The fee will be deducted quarterly from Customer's Cash Account. In the event that there is no sufficient money in Customer's Cash Account, then we reserve the right to redeem the fund units to settle the outstanding Platform Fee amount. The deduction sequence is as follows.
Q: When should I pay the Platform Fee?
A: Invoice will be sent to you together with the monthly e-statement.

Platform fee quarterly Invoice sent with monthly e-statement Cash Account Deduction or Unit Redemption
Q1 (Dec, Jan, Feb) Beginning of Apr 19-Apr onwards
(Monies to be deposited into Cash Account by 15 Apr)
Q2 (Mar, Apr, May) Beginning of Jul 19-Jul onwards
(Monies to be deposited into Cash Account by 15 Apr)
Q3 (Jun, Jul, Aug) Beginning of Oct 19-Oct onwards
(Monies to be deposited into Cash Account by 15 Apr)
Q4 (Sep, Oct, Nov) Beginning of Jan 19- Jan onwards
(Monies to be deposited into Cash Account by 15 Apr)

Q: How to define "Best performing Fund" ?
A: "Best Performing Fund" is the fund that has recorded the highest gains (in terms of profit/loss (0%)) on Customer's e-statement of the previous month.
Q: How do I make payments to buy funds?
A: You can make payments via PPS, Internet banking, cheque and Telegraphic Transfer. Please refer to our User Guide for more details.
Q: How can I withdraw the cash in the Cash Account?
A: You may place a withdrawal order online, and choose whether you wish to credit the monies to your bank account or receive a cheque.