You can subscribe to funds via the following steps:
1. Deposit money into your FUTU account
2. Choose the fund that interests you
3. Go to the Detailed Quotes page
4. Click the Buy button
5. Fill in the subscription amount
Day T refers to the trading day when fund companies process investors' subscriptions, redemptions, and other requests. Day T varies across funds because fund companies have self-determined cut-off times.
Assume a fund company's cut-off time is 12:00.
● If an investor submits a subscription/redemption before 12:00 on Monday, the order will be processed on Monday (T).
● If an investor a subscription/redemption after 14:00 on Monday, the order will be processed on Tuesday (T+1).
You can redeem the funds via the following steps:
1. Go to Brokerage Account page
2. Click the fund to enter the Position Details page and click the Redeem button
3. Fill in the redemption units
For bond funds and equity funds, investors can only apply for redemptions until the units are confirmed. It normally takes five business days to post the amount into your account after the redemption (time may vary across different funds). The posted amount can be used to trade stocks, subscribe to IPOs or funds, or make a withdrawal.
The trend chart displayed on the Detailed Quotes page indicates the fund's net asset value trend in a given period. Therefore, investors can assess the fund's volatility, historical performance, etc., based on the chart. The chart, along with the NAV, is updated at the end of every trading day.
Gains will be generated once the units are confirmed and will be distributed after 21:00 HKT/SGT every trading day. Please refer to the actual arrival time of gains.
Gains will be accumulated and distributed on the next trading day of weekends, holidays, and other non-trading days.
For details about the estimated arrival of new gains, you can check:
● Timeline on the Subscription Completed page after you submit a subscription
● Trading rules on the Detailed Quotes page
Subscription: There is a minimum investment amount.
After submitting a subscription or redemption, you can cancel it before the fund company begins processing your order.
Cancellation allowed: before 11:30 on day T
Types allowed: bond funds, equity funds, and balanced funds
You can cancel your orders via the app by clicking Brokerage account > Transactions > the order you'd like to cancel > Cancel order.
● If you submit a subscription at 11:00 on a trading day, you can cancel the order before 11:30 on the same day. The order will be processed by the fund company after 11:30 and cannot be canceled since then.
● If you submit a subscription at 12:30 on a trading day, you can cancel the order before 11:30 on the next trading day.
● Orders cannot be canceled if they are submitted between 11:30 and 12:00 on a trading day.