Hi guys, just to seek some comments / views from you guys. Appended underneath is the reply from Syfe customer support to my questions. Key concern is the "average price" of all units on hold, which I reckon is the wrong valuation method aginst NAV or portfolio return. Thanks
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Thank you for your patience.
1)From your reply I understand there is NO first-in-first-out principle applicable on units to be transact when I opt for partial withdrawal
Yes that is correct because the units are held together based on the average purchase price.
2)Based on your earlier reply, am I correct to say that the Current Market Value (or NAV) is simply NOT an aggregation of respective unit in its most up-to-date trading price(s). Instead, based on the current most up to date trading price, it is computed as average price of all units held / acquired over time
Allow me to clarify the
Current Market Value is based on the most recent price of the units. The Syfe dashboard will reflect the previous day's market closing price of the units invested.
When the withdrawal request is received, it will be:
Current Market Value - Average purchase price
= Returns on the investment that will be included in the withdrawal amount.
We hope this was able to provide more clarity.
If you have further queries, please feel free to contact us through Live Chat from Mondays to Fridays, 9 am to 6 pm or email us at
support@syfe.com. For more information, please visit our Help Centre at
https://help.syfe.com/hc/en-us.
Thank you.
Best regards,
Syfe Support Team