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DBS lowers front load charge on RSP purchases to 1%

Kelvin Tan Published on Mon, May 23, 2016 / 5:56 PM GMT+8

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SINGAPORE (May 23): DBS Bank has reduced its unit trust front load charge to 1% for customers who opt to make regular purchases every month. The move enables an investor to build up a long-term position in a portfolio of funds at a relatively low cost without being caught wrong-footed by market volatility.

“Markets will remain volatile this year. Instead of chasing highs and lows, consider spreading your investments out on a monthly basis, for instance, by investing through RSPs. Such plans help retail investors invest in a disciplined manner, from a minimum monthly investment of $100 a month,” says Marc Lansonneur, head of investment products at DBS Bank.

In an industry where there is not a lot of consistency or transparency regarding fees, the move might set DBS apart as a fund distributor that promotes long-term fund investment.