Anonymous

17 Jun 2020

∙

General Investing

I currently have unit trust and ETFs under POSB-(RSP), is it possible for me to open up an CDP account and transfer my funds over?

I just want to know if it is possible. And what do you guys think? If it is possible, how do i go about doing it? Should I transfer my stocks from a custodian to a custody? Or should I not?

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Elijah Lee

17 Jun 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

CDP can only be the custodian for holdings that are traded on the exchange. This would include all listed stocks and ETFs.

Some advantages of holding your stocks in custody will include: Easier rights issue participation, direct crediting of dividends, and the right to attend annual general meeting.

Unit Trusts are held by the distributor and as such can only be transferred out to other distributors which carry the same fund.

It is usually easier to manage your holdings if you consolidate them in a single platform.

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Wrong Sean

17 Jun 2020

Best to check with the bank directly and clarify your concerns.

Also the CDP will only hold the ETFs as they are traded on the SGX. The UTs are not possible to transfer to CDP.

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