Scale of Charges Cut-off Times for Processing Payment Orders EFG Bank AG Singapore Branch #07-00 EFG Bank Building 25 North Bridge Road Singapore 179104 Company/GST Reg. No. T03FC6371J Incorporated in Switzerland with limited liability Version January 2018
SCALE OF CHARGES I. Account / Transaction Charges Remittances / Transfers SWIFT SWIFT Query / Investigation USD40 + Out-of-pocket expenses USD50 per request Cheques / Cashiers Orders Issuance Cancellation Loss Stop Payment SGD Cheque USD50 (per Cheque/Cashier s order) + Out-ofpocket expenses USD50 + Out-of-pocket expenses USD50 + Out-of-pocket expenses USD50 + Out-of-pocket expenses USD50 Returned Cheque (all currencies) USD60 (per cheque) + agent s charges Cheque Collection USD50 (per cheque) + agent s charges Special Clearing of Singapore Dollar Cheque (mark good) USD50 per cheque Balance / Audit Confirmation USD30 per request Historical Account Records (ad-hoc basis) Client Monthly Statement / Valuation report Client Advices & Others USD50 per portfolio per month USD50 per portfolio per month Tax Statement USD250 per statement Bank Reference USD30 per letter Additional set of Advice / Statement / Valuation Report (Standing Instruction) USD250 per annum Special Mailing Arrangement USD1,000 per annum Account Closure USD200 per closing Standard Overdraft Interest Rate 4% per annum above the corresponding prevailing cost of funds of the Bank Loan Facility Renewal Fee 1.5% per annum on Facility amount Bank Guarantees / Standby Letter of Credit 1% per annum - 1 -
I. Account / Transaction Charges (cont d) Standing Instruction USD50 per set up Custodian Fee 0.25% per annum on market value of securities Minimum USD1,000 Discretionary Portfolio Management Fees [Managed by other EFG Entities] 1% to 2% per annum on portfolio amount Subject to negotiation Account Handling Fee 0.3% per annum on portfolio amount II. Securities Services Charges Markets Commission on Purchase / Sale (exclude 3 rd party charges) Singapore 1.00% Hong Kong 1.50% Canada & USA 1.50% Japan 1.50% Major European Markets 1.00% All Other Markets 1.00% Delivery Free Of Payment [exclude same client transfers with Zurich & Hong Kong Branch - 3 rd party charges (if any) is applicable] Physical Share Certificate 0.1% of market value of each security Minimum USD150 for each security + out-ofpocket expenses USD250 per certificate Dividend Collection 0.5% on dividend amount Minimum USD10, Maximum USD1,000 Corporate Action Out-of-pocket expenses III. Bonds / Structured Products Spread on Purchase / Sale Subject to negotiation Delivery Free Of Payment 0.1% of market value of each security Minimum USD150 for each security + out-ofpocket expenses Coupon Collection 0.5% on coupon amount - 2 -
III. Bonds / Structured Products (cont d) Upon Conversion To Equities ELN & convertibles Hong Kong Market All Other Markets USD20 per issue + Out-of-pocket expenses Subject to negotiation + Out-of-pocket expenses IV. Mutual Funds / Unit Trusts Subscription Fee, Up Front / Back End Fee, Redemption Fee 3% subject to negotiation and the Terms and Conditions of the mutual fund / unit trust + out-ofpocket expenses Transfer Out 0.1% of market value of each security Minimum USD150 for each security + out-ofpocket expenses V. Hedge Funds Hedge Fund Administration Fee (Including Funds of Hedge Fund) 0.20% per annum Hedge Fund Administration Fee payable on quarterly basis in arrear, based on the aggregate of hedge fund portfolio valuation amount as at the end of the month, covering all investments in hedge funds and funds of hedge funds, excluding:- - EFG-managed Hedge Funds and Funds of Funds; - Investments within EFG International/EFG Bank discretionary portfolios with full fee paying discretionary mandates; - Exchange Traded Funds; and - Illiquid or In-Liquidation Positions. VI. Precious Metals Account Service Fee Gold / Silver / Platinum Subject to negotiation - 3 -
VII. Account Maintenance Fee Account Maintenance Fee Chargeable per annum per customer account on every anniversary of account opening based on the aggregate Assets-Under-Management (AUM) of the group of related accounts in the preceding 12 month-end USD5,000 per annum per customer account Average AUM below USD500,000 ( or its equivalent ) USD2,500 per annum per customer account Average AUM below USD1,000,000 and equal to or above USD500,000 (or its equivalent) AUM refers to the aggregate balance of deposits, loans, overdrafts, investment securities and cash surrender value of insurance policies maintained with the Bank. VIII. Fixed Deposit Charges on Early Withdrawal of Fixed Deposit Full or partial early withdrawal of fixed deposit is subject to the Bank s absolute discretion. Any interest earned on the fixed deposit up to the early withdrawal date may be adjusted to take into account the following charges as determined solely by the Bank: 1) Any costs incurred by the Bank as a result of the early withdrawal 2) Administrative Fee of CHF100 Additional penalty charge of 2% p.a. on the amount withdrawn over the residual period of the fixed deposit. IX. Loan Charges on Prepayment of Loan Full or partial prepayment of loan is subject to the Bank s absolute discretion. Interest to be paid on the loan may be adjusted to take into account the following charges as determined solely by the Bank: 1) Any costs incurred by the Bank as a result of the prepayment of loan 2) Administrative Fee of CHF100-4 -
Remarks This schedule applies to normal transactions. Deviation from the above standard charges will be handled on a case-by-case basis and subject to negotiation. Out-of-pocket expenses, such as stamp duties, postage, cable charges, correspondent s charges, etc., if any, will be charged separately. For unusual handling, a special handling fee may be charged. Charges for transactions not listed above will be quoted upon application. This schedule is subject to change within a 30-day notice period, unless such changes are not within our control. The usual time taken for clearing a cheque credited to the account: - SGD Cheque: 2 working days - Foreign Currency Cheque on overseas collection basis: upon receipt of payment from correspondent bank. In circumstances where it is alleged that cheque(s) processed for your account is/are found to be fraudulent, we may receive a claim for reimbursement of the cheque(s) at any time after the cheque(s) has/have been processed. If we receive such a claim, we reserve the right to debit your account with the amount of the cheque(s) in question. Scrip Fee for Hong Kong Market (Purchase only) 0.036% based on the market value of the securities for the following transactions:- - New Securities Purchase - Stock Split - Tender Offer - IPO / Placement of shares - Shares Transfer In - Stock Dividend - Bonus Shares - Exercise of Rights Issue / Warrants / Options / Structured Products / KODA - 5 -
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Disclosure of Transaction Related Information Unless otherwise specified by the Bank, the information set out herein (as amended from time to time) will apply to each and every investment product distributed to you by the Bank. Where reference is made in this document to distribution of products by the Bank, it includes the Bank selling products to or buying products from you. You should refer to the information set out herein each time before you invest. A. Disclosure of Benefits Received and Capacity for Distribution of Products Product Bond (including convertible bond) Benefits received by the Bank or its associates (Note 1) Trading profit of up to 2% of the gross value Capacity of the Bank in respect of the distribution of the product (Note 2) Listed Equity (including listed warrant, exchange traded fund, listed equity option) Please refer to Section II Securities Services Charges in Scale of Charges issued by the Bank. Agent Collective Investment Scheme (including mutual fund, hedge fund, private equity fund) The Bank may receive from the fund or investment managers (including EFG group entities as specified in "Disclosure of Affiliation with Product Issuer" below) financial benefits in the form of rebates and trailer fees which are not quantifiable prior to or at the point of sale. These financial benefits are compensation to the Bank for its continuing investor relationship management and support services. The amount of compensation paid by the fund or investment managers to the Bank is calculated based on the aggregate holding volume of the collective investment schemes of the clients of the Bank on specified dates, which may amount up to 50% of the management fees charged by the fund or investment managers to you. Please also refer to Section IV Mutual Funds/ Unit Trusts & Section V Hedge Funds in Scale of Charges issued by the Bank. Agent - 7 -
Product Structured Notes (including equity, interest rate, bond, credit, FX, precious metal and commoditylinked notes) Foreign Exchange (including spot, forward, currency leveraged and FX margin trading, swap, nondeliverable forward) Precious Metal (including spot, forward, swap, margin gold trading) Over the Counter Derivatives (including OTC equity option, OTC FX option, OTC Precious Metal option, OTC Bond option) Dual Currency Investment Benefits received by the Bank or its associates (Note 1) For Notes with tenor of 3 years or less, trading profit of up to 3% of the investment amount. For Notes with tenor of more than 3 years, trading profit of 5% of the investment amount. The Bank will benefit from the origination and distribution of this product. The Bank may receive profits (together with costs and expenses) deriving from the offering price or the bid/ask spread for originating and distributing this product. The Bank will benefit from the origination and distribution of this product. The Bank may receive profits (together with costs and expenses) deriving from the offering price or the bid/ask spread for originating and distributing this product. The Bank will benefit from the origination and distribution of this product. The Bank may receive profits (together with costs and expenses) deriving from the offering price or the bid/ask spread for originating and distributing this product. The Bank will benefit from the origination and distribution of this product. The Bank may receive profits (together with costs and expenses) deriving from the offering price or the bid/ask spread for originating and distributing this product. Capacity of the Bank in respect of the distribution of the product (Note 2) - 8 -
Product Interest Rate Linked Investment / Precious Metal Linked Investment Accumulator / Decumulator Benefits received by the Bank or its associates (Note 1) The Bank will benefit from the origination and distribution of this product. The Bank may receive profits (together with costs and expenses) deriving from the offering price or the bid/ask spread for originating and distributing this product. The Bank will benefit from the origination and distribution of this product. The Bank may receive profits (together with costs and expenses) deriving from the offering price or the bid/ask spread for originating and distributing this product. Capacity of the Bank in respect of the distribution of the product (Note 2) Note 1: Unless the Bank otherwise expressly informs you otherwise, the percentages are in the form of a percentage ceiling of the investment amount rounded up to the nearest whole percentage point. Note 2: References to "Agent" refers to the Bank acting as your agent in relation to the product distributed by the Bank. B. Disclosure of Affiliation with Product Issuer Where the product is issued by EFG International Finance (Guernsey) Ltd., the Bank is affiliated with the product issuer as both the Bank and EFG International Finance (Guernsey) Ltd. are members of the EFG International AG Group. The Bank may be affiliated with the fund or investment managers of the collective investment schemes that are distributed by the Bank. The Bank is affiliated with New Capital Fund Management Limited and EFG Asset Management (Singapore) Pte Ltd. as both the Bank and these fund or investment managers are members of the EFG International AG Group. Unless the Bank notifies you otherwise, the Bank is not affiliated with other fund or investment managers of the collective investment schemes distributed by the Bank. Where the Bank and the product issuer are not members of the same group of companies, the Bank may be affiliated with the product issuer in other manner. For example, the Bank or its associates may be involved in other capacities (such as an arranger, sponsor, administrator, advisor, etc.) with respect to the product for which they may receive monetary or non-monetary benefits. C. Disclosure of Discount Arrangement Unless otherwise specified by the Bank, the Bank does not offer any discount of fees and/or charges. - 9 -
Cut-off Times for Processing Payment Orders Currency Deadline for Execution of Fund Transfer Instruction on a Banking Day Payment Value Date SGD Before 11.00 a.m. Same business day of the payment order date USD Before 4.00 p.m. Same business day of the payment order date CAD Before 11.00 a.m. Same business day of the payment order date AUD CHF EUR GBP HKD JPY NZD Before 11.00 a.m. Next business day of the payment order date CNY Before 2.30 p.m. Next business day of the payment order date All Other Currencies Before 11.00 a.m. Two business days Fund transfer instruction should be sent to the Bank during the normal business hours, on a banking day, from Monday to Friday: 9.00 a.m. - 5.00 p.m. The cut-off time will be varied depending upon the regulatory requirement and market situation of each trading currency. No prior notice is made. - 10 -
INDICATIVE GUIDELINES FOR FUND SUBSCRIPTION AND REDEMPTION CUT-OFF TIMES Please send us your fund subscription and redemption orders before the following cut-off time: Type of Funds EFG ASIA Approved or Authorized Funds (Except for RMB denominated funds and Hedge Funds^) Cut-off Time (HK) 1400 hours Disclaimer These indicative guidelines are provided to the clients of EFG Bank AG (the "Bank") on a best effort basis solely for their information purposes. The receipt by the Bank of any fund subscription or redemption order(s) ("Fund Order(s)") at or before the cut-off time shall not constitute any confirmation, guarantee or commitment in respect of any successful execution of any Fund Orders nor execution by any specified time or on any specific terms. In addition, the Bank may, but is not obliged to, process on the same day any Fund Orders that are received by the Bank after the cut-off time of that day. To the extent that any Fund Order is not received on a Business Day of the Bank, the Bank reserves the right to process it on the next Business Day. Please also note that the Fund Order placement and execution are subject to the Transfer Agent s terms and conditions and the Fund/ Fund Administrator's rules, terms and conditions, which may differ for each Fund and may vary from time to time without prior notice given by the Bank to you. We strongly recommend that you refer to the latest Fund Prospectus and contact the Fund Company to re-confirm the specific rules, terms and conditions in respect of the particular Fund. Your Fund Order is not confirmed to be executed unless and until you have received a written confirmation of the same from the Bank. Unless otherwise specifically requested by you, any Fund Order that is not executed on the same day of your order placement shall automatically be placed for execution on the next available dealing day or period. Your Fund Order is valid until the Fund Order has been successfully executed or alternatively, withdrawn by you and accepted by the Bank. ^For the cut-off time for RMB denominated funds and Hedge Funds, please contact your Client Relationship Officer. - 11 -
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