Why did my MPF switch use a different price?

MPFA says that when a fund-switching order is placed, neither the member, trustee nor eMPF Platform knows the fund’s transaction price. Forward pricing means the unit price is calculated after market close when underlying investment prices are available. The figure visible when you decide to switch therefore does not establish what the eventual redemption or subscription price will be. This guide concerns switching within a scheme. [C1]

MPFA explains that a fund has a single calculated price for each dealing day. Repeated switching orders during that day do not create the stock-trading opportunity of buying and selling at changing intraday fund prices. Ask about the scheme’s handling of multiple instructions before submitting another request. Do not infer an execution-price forecast or a guaranteed price from the time shown on a submission acknowledgement. [C1]

Administrative steps take time, and fund prices can move up or down while they are completed. MPFA notes that some constituent funds invest in approved pooled investment funds, with transactions processed on a cleared-funds basis. This can involve redemption and reallocation steps. Processing time also varies with the instruction method. The general explanation does not establish the precise timeline or correct execution date for your own instruction. [C1]

Retain your instruction and acknowledgement, the displayed-price date and the actual transaction details. MPFA describes transaction statements containing dates, amounts, fund prices, unit numbers and deducted fees. Ask the trustee or eMPF Platform to reconcile the instruction with the recorded transactions and explain the applicable processing rules. A price difference alone does not resolve whether processing was correct; an individual dispute needs the actual records. [C1, C2]

Is the price fixed when I click submit?

No. The member, trustee and eMPF Platform do not know the transaction price at that point. [C1]

What does forward pricing mean?

The fund price is calculated after market close using the prices of underlying investments. [C1]

Can the final price move in either direction?

Yes. MPFA says prices may rise or fall while administrative procedures are completed. [C1]

Can repeated same-day orders capture intraday prices?

No. MPFA describes a single fund price calculated for each dealing day. [C1]

Does every instruction method take the same time?

No. MPFA says processing time can vary with the instruction method. [C1]

What details help me check execution?

Compare dates, amounts, transaction prices, unit numbers and fees with your instruction records. [C2]

Does a price difference alone prove an error?

No. Request a reconciliation of the actual transaction and applicable processing steps. [C1, C2]

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