Comments on: DBS Cuts Sales Charge for Unit Trusts

By: lioninvestor

lioninvestor — Sat, 02 Jan 2010 13:12:11 +0000

That was what I heard as well. Probably they haven’t updated the IT side of things. Might not see the need to do so since it’s supposed to be an indefinite “promotion”.

By: SavvyInvestor

SavvyInvestor — Sat, 02 Jan 2010 07:07:54 +0000

I called up DBS. The staff on the line informed me that internet banking will still show the old sales charge. However, it will show a discounted sales charge down to 1% on one of the later screens.

This maybe from a staff at the call center. But I still do not know how trustworthy is this information.

Maybe someone else can call again to confirm – 1800 111 1111 (Toll Free).

By: lioninvestor

lioninvestor — Fri, 09 Oct 2009 23:24:11 +0000

I checked the online purchase again which still shows sales charge of funds at 3 and 5%.

Perhaps the 1% only applies to walk-in or selected funds. Have to reconfirm with them again.

By: lioninvestor

lioninvestor — Fri, 09 Oct 2009 23:21:24 +0000

Hi Vincent,

They charge 0.2% sales fee for the DBS enhanced income fund. We are almost there. lol

By: lioninvestor

lioninvestor — Fri, 09 Oct 2009 23:17:56 +0000

Hi Hindsight,

Not just DBS, but all the other distributors who charge 5% upfront sales fee.

By: Hindsight

Hindsight — Fri, 09 Oct 2009 09:40:08 +0000

So, DBS has been making tons of money from their clients from the sale of units trusts in the past when they charge a 5% sale charge.

By: lioninvestor

lioninvestor — Thu, 08 Oct 2009 03:58:07 +0000

Hi James,

There could be a promotion going on for the funds you bought then.

Their charges are here:

http://www.dollardex.com/sg/index.cfm?current=../contents/newpricing&contentID=2637

At the entry level, they usually charge 2% for equity funds and 1.5% for bond funds.

By: James Tan

James Tan — Thu, 08 Oct 2009 03:48:42 +0000

Hi Lion,

That’s very strange. My first investment with them was in 2003, when I bought S$30K of APS Alpha UT. Then in 2004, I bought $5K of UOB Gold & Gen UT.

On both instances, I only paid 1% sales fee. So, where does the $250K requirement come from?

By: lioninvestor

lioninvestor — Wed, 07 Oct 2009 15:52:53 +0000

Hi James,

Yes, I’m familiar with dollardex.

Their entry level sales charge is 2%.

It only reaches 1% if you reach private client status (250k in investments).

By: James Tan

James Tan — Wed, 07 Oct 2009 06:47:23 +0000

Hi Lion,

Thanks for the info, perhaps you may not know that Dollardex.com has been selling more than 400 Unit Trusts online at 1% for many years already!