SMART Park is an excess funds facility that manages your account’s idle cash by tapping on money market funds. The money market funds invested are Phillip Money Market Fund for SGD, and Phillip US Dollar Money Market Fund A for USD.
Money Market Funds consists of high quality, short-term instruments that mature in 397 days or less. They include high quality government and corporate bonds, commercial bills and fixed deposits.
You can use the money in your SMART Park account for payment of shares or other investment purchases on POEMS. Money Market Fund units will be automatically redeemed from SMART Park with no additional instruction required.
The investment mandate of SMART Park’s underlying fund, Phillip Money Market Fund, is to preserve the fund’s principal value and maintain a high degree of liquidity while producing returns comparable to that of savings deposits. It is required by this mandate to invest only in its intended currency. Thus, the fund is not allowed to take any currency risks.
Though the Phillip Money Market Fund is not principal guaranteed, it has not experienced any default since inception in 2001. The fund’s credit management process is designed to select the highest quality debt issued by the highest quality companies, while managing liquidity of the Fund.
If you have yet to open an account, you may open an account, and opt-in Excess Funds Management Facility (SMART Park) at the same time.
If you have an existing account, you can opt-in to SMART PARK , and transfer your funds into SMART Park.
You may also opt-in to SMART Park via MyWealth App. Simply log in to your account, select Smart Series > SMART Park, select an account and click on the Opt-in button.
Explore the different methods you can deposit your money into SMART Park.
You may also deposit your money into SMART Park via MyWealth App. Simply log in to your account, select Smart Series > SMART Park > Deposit.
Yes, you can withdraw your money any time. To withdraw, please login and go to Acct Mgmt > Stocks > Online Forms > Withdrawal Form.
You may also withdraw your money via MyWealth App. Simply log in to your account, select Smart Series > SMART Park > Select an account > MMF currency > Withdraw.
Withdrawal requests submitted before 10 am will be processed on the same business day, with the funds deposited into your bank account the next business day.
Rates shown on the website are based on 1-year cumulative returns with net income and dividends reinvested and calculated on a single pricing basis (NAV/NAV prices). Returns shown are net of fund expenses. (Note: Past performance is not necessarily indicative of future performance.)
To view the returns earned, please login and go to Acct Mgmt > Stocks > Transaction History > Summary of Portfolio > MMF .
No, you are not required to maintain a minimum balance in your account. But to enjoy the returns of SMART Park, a minimum balance of $100 needs to be maintained in the account.
No, there are no sales charges or administrative fees imposed for SMART Park facility.
However, there may be fees and charges levied on the underlying funds.