>> Operation Guide: A line up of functions to help first time customers to buy fund.
>> Fund Product: Check/download contract, custody agreement and prospectus of the funds under the custody of ICBC. This function can be used to buy fund as well.
>> Trade Fund: A group of functions for subscribing, buying, redeeming, converting funds via Internet Banking. The same function group can be used to buy, redeem or buy fixed amount of funds periodically, convert funds.
>> My Fund: A group of functions for checking Fund Code, NAV, Fund A/C and trade details. The same function group can be used to check investment details by looking at fund shares, trade details, balance in bank account.
>> Manage Account: A group of Internet Banking functions for opening/canceling, maintaining registration details on Fund Trading A/C at the bank and TA A/C at the Fund House.
Glossary:
Open-End Fund: A fund with varied issuance scales as investors buy or redeem. Investors can buy or sell open-end fund anytime on available day. Share value of an open-end fund is determined by its net asset value price. Open-end funds offer better choice than close-end funds whose prices and values can always go in different directions.
Fund Trading A/C at the bank: An account for recording and managing how many funds you have traded through ICBC. Only one Fund Trading A/C can be opened in one same area. The account can beopened yourself through Internet Banking or at ICBC Counter. If you wish to trade fund in other city, another Fund Trading A/C has to be opened and a current account has to be assigned as bank account for settlement. RMB Current Account under Money Link Card, E-Age Card or Elite Club Account can be used as the bank account for trading fund.
TA A/C at Fund House: This account can be opened via "Open TA A/C(Fund House)" via Internet Banking. TA stands for Transfer Agent. Once you apply to open the account during trading hours, ICBC will send your applicationto the Fund Registry where the fund is registered. Fund House has the final right to approve your application. Once the account is opened, Registry will send you a confirmation. If you have opened a TA Fund A/C under this Registry in other ICBC branch of another city, register the account at "Register ICBC Inter-city TA A/C" via Internet Banking or at ICBC business office in person.
Front-end load is the fee levied when buying open-end fund. Back-end load has no fee charged when buying till the fund is sold.
Back-end load is designed to encourage investors to hold fund for long term. Generally the longer the fund is held, the lesser the fee is levied. Some funds even do not have any back-end load levied if investors only sell after holding a period longer than the specified.
Money Market Fund's daily "Return per 10000 Shares" and "7-day Annualized Yield": two indicators reported by the fund everyday as at one trading day before. Return per 10000 shares is the net after deducting the management fee, custody fee and the service fee for selling. "7-day annualized yield" is the annualized yield computed at daily compound interest rate in the nearest 7 natural days.
Can open-end funds be bought on the day the account is opened? When the fund shares bought are available for enquiry: Open-end funds can be bought on the day the account is opened. Fund shares bought on the day can be checked 2 working days later (T+2 days where T=the buying date) via the ICBC business office where the fund is bought, website of the Fund House and customer hotline of the Fund House.
