Benefits of the System
There are a number of benefits of using the System:
(1) it reduces the cost and administrative workload associated with the issuance and custody of beneficial certificates;
(2) it executes administrative procedures promptly─for example, it used to take a number of days to have the beneficial certificates issued after the purchase, but under this System, the rights are recorded in the transfer account book on the day of the purchase; and
(3) it eliminates the risk of loss, theft, forgery, etc. of beneficial certificates.
In addition to the above, another aspect which has been highly rated in a survey of the participants is that, in order to ensure the accuracy of the balance of beneficial rights, issuers and AMIs are provided with the balance data on a daily basis, enabling their reconciliation easier.
For enquiries about the Book-Entry Transfer System for Investment Trusts, please contact:
General Enquiries about the Book-Entry Transfer System for Investment Trusts