Review the available mFund products and read their associated Product Disclosure Statements available on the mFunds page of the platform, and also on the mFund order ticket. This is an important step – you should not invest in an mFund without having read and understood its PDS.
Read the ASX fact sheet for mFund products, which confirm that mFund products are not traded or listed on ASX.
When you have selected an mFund product you wish to invest in, you can submit a Buy (or application) order through our online trading platform. Orders are placed in dollar values – you are investing an amount which the fund manager will later convert to units.
We will deduct the cost of the investment from your EBROKING Settlement Account and then submit the order to the ASX mFund Settlement Service, along with the information required by the fund managers, including your account name, address and tax file number.
The fund manager will review your application and if they accept it, will issue units through CHESS. This process may take several days depending on the fund manager’s normal processes, which are outlined in the PDS for the fund.
When the units have been received by CHESS, your order status will be updated on the trading platform, and the units will be available to see in your Stock Holdings page. mFund holdings can be shown to multiple decimal point - unlike shares where only whole units can be shown.