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  1. #2601


    Quote Originally Posted by Laguna View Post
    for me
    1. Avoid all bonds marketed by DBS
    2. Even UBS did not sell me this floater.
    Do not buy anything from any financial institution in Singapore. I did so and have lost a lot of money. I have never made one penny investing in stocks or bonds, or mutual funds. Real estate is how I made a bit of money.

  2. #2602


    I got offered this one too... basically suggested to me to put up USD150k in cash and borrow USD840k

    Quote Originally Posted by cbsh38584 View Post
    DBS is launching UBS Asian Bond Series 2 Floating Rate Class.
    Quarterly payouts 3m libor + ( around 1.3 to 1.45%) all in indicative est ( 3.63 to 3.78%)
    Very Special loan spread 0.25 % +3m libor
    LTV 85%
    Tenor - 4.3 years
    Risk level 3 (highest is 5)

    Let say u invested 500k & borrow 500k.
    Yearly nett coupon after minus borrowing cost est - 1.1% x 500k = US$5.5k/yr without any $ cash layout.

    The fund collected will invest into Asian investment grade & junk bond (around 70 of the bond) which has dropped quite a lot. So no concentration risk on single bond. Name like Evergrande , state bank of india , korea national oil , pertmina Persero , Guangzhou R&F etc are some of the name they will buy.

    The investments are not guaranteed in capital and the loss is limited to amount invested. Clients are exposed to the risk of default of the underlying issuers and leverage may magnify any potential loss.

    I bought a similar fund at CS two years ago. I told profit less than a year without any early redemption penalty.
    DBS is quite aggressive in pushing this fund but I am not interested. Any "carrot" or "incentive" to lure clients
    to buy is something I will not be interested.

  3. #2603


    Since there is a early redemption penalty of 1% in the 1st 3 year. It make it even not attractive.

    The recent (2 days ago) issued PUB bond 3.01% 15 yrs (due 2033) tenor an alternative to fixed deposit
    for those very low risk taker.

    PUB bond 3.620% due 12th Oct2027 (SGD) is trading above par (107).

  4. #2604


    Reflects my own sentiments as well. Definitely seeing a flight to quality

  5. #2605

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