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FAQ article

How Many Days Until a Mutual Fund Sale Pays Out on Pluang?

The mutual fund redemption time on Pluang is a maximum of 7 business days: the investment manager verifies your sale within 1 to 2 exchange days, and the proceeds are then sent to your registered bank account. If you sell before 13:00 WIB on an exchange day, the sale is processed that day at that day's NAV (Net Asset Value, or NAB), updated between 21:00 and 24:00 WIB, and the investment manager verifies it on the next business day. If you sell at or after 13:00 WIB, or on a Saturday, Sunday or national holiday, the sale is processed on the next exchange day at that day's NAV, and verification takes 2 exchange days. In both cases, the transfer to your registered mutual fund bank account takes a maximum of 7 business days, in line with OJK regulation 23/POJK.04/2016 Article 24. Your bank may deduct an interbank transfer fee of an estimated Rp2,500 to Rp30,000 per transaction.


Sales before 13:00 WIB

  • Processed on the same day, at that day's NAV, which is updated at the end of the day between 21:00 and 24:00 WIB.
  • A sale on Friday before 13:00 WIB is processed that Friday, at Friday's NAV, updated on Friday evening.
  • The investment manager verifies the sale on the next business day.
  • The funds are transferred to your registered account within a maximum of 7 business days.

Sales at or after 13:00 WIB, and on non-exchange days

  • Processed on the next exchange day, at that day's NAV, which is updated at the end of the day between 21:00 and 24:00 WIB.
  • This applies to sales on Friday after 13:00 WIB and to sales on Saturdays, Sundays and national holidays.
  • Verification by the investment manager takes 2 exchange days.
  • The funds are transferred to your registered account within a maximum of 7 business days.

About the NAV you see

  • The NAV shown in the app when you create the sale is the previous exchange day's NAV.
  • The NAV in your transaction details when you first create the sale is an estimate based on the previous exchange day's NAV.
  • The final NAV used to calculate your sale is the one listed after your transaction has been verified.

Notes

  • Exchange days are Monday to Friday. The exchange is closed on Saturdays, Sundays, national holidays and Cuti Bersama.
  • If the bank that receives your proceeds is different from the bank that holds the mutual fund (bank penampung), your bank charges an estimated transfer fee of Rp2,500 to Rp30,000 per transaction, so the amount you receive can be lower than the sale amount.
  • Step-by-step guide for selling: "Cara Menjual Reksa Dana". To set the account that receives your proceeds: "Menambahkan Bank untuk Pencairan Reksa Dana".

Related questions:

Q: How many days until a mutual fund sold on a Friday pays out?
Still a maximum of 7 business days, but Saturday and Sunday are not counted. If you sell on Friday before 13:00 WIB, the sale is processed that Friday at Friday's NAV and verified by the investment manager on the next business day. If you sell on Friday at or after 13:00 WIB, the sale is processed on the next exchange day and verification takes 2 exchange days. National holidays and Cuti Bersama are not counted either, so the calendar time can be longer than 7 days.

Q: What time should I sell to have my sale processed the same day?
Before 13:00 WIB on an exchange day (Monday to Friday, excluding national holidays and Cuti Bersama). A sale before this cut-off is processed that day at that day's NAV, which is updated between 21:00 and 24:00 WIB. A sale at or after 13:00 WIB is processed on the next exchange day. You can still place a sale at any time, including on weekends, but it waits for the next exchange day to be processed.

Q: Why can it take up to 7 business days to receive my money?
The money in a mutual fund is invested in assets such as stocks, bonds or deposits, not held as cash. When you sell, the investment manager has to sell those assets and recap the day's sales, and the custodian bank records the result before the proceeds can be transferred. Under OJK regulation 23/POJK.04/2016 Article 24, this must be done within a maximum of 7 business days of the investment manager receiving your sell order.

Q: Where are my mutual fund sale proceeds sent?
Your proceeds are sent only to the bank account you registered as your mutual fund bank in the Pluang app. If you have not chosen a mutual fund bank, they are transferred automatically to your main mutual fund bank account shown in the app. The account must be in your own name. To add or check this account, follow the guide "Menambahkan Bank untuk Pencairan Reksa Dana".

Q: Can I cancel a mutual fund sale after I submit it?
No. A mutual fund sale made through the Pluang app cannot be cancelled once it has been submitted. The transaction is verified by the Pluang team straight away and then processed by the custodian bank. Before you confirm, check the fund, the number of units or amount, and the time: a sale before 13:00 WIB on an exchange day gets that day's NAV, and a later sale gets the next exchange day's NAV.