Category Archives: Transaction

Good bye, DBS Vickers online

I login to my DBS Vickers online account in November and noticed a mysterious fee charged to my account. It is the custodian fee for foreign stocks, which dbsv started charging in August silently. The amount is $2.14 per month per counter including GST.

To transfer the stocks outside to other broker, there is a fee of S$50 per counter. This is more expensive than doing a sell and a buy to transfer the stocks.

So I sold all my holdings from dbsv in November – vanguard total stock market ETF (VTI) and ABF PAIF Asia bond index ETF (2821.HK). I plan to use standard chartered bank to buy the ETFs back but have not gotten the time to do so.

As to dbsv, you were the broker I used to buy my first ETF (VTI) in 2005 when you were the only local broker who didn’t charge custodian fees for foreign stocks. So long and thanks for all the fish.

Portfolio activity, July-August 2011

With the cash built up from the delayed contribution in October 2010 and April 2011, I have finally made the purchase in July and August. The delay was because (1) I have been trying to get Saxo to offer two global bond ETFs in London Stock Exchange since October 2010, which Saxo finally added them in May 2011, and (2) I was evaluating and setting up Standard Chartered bank online trading in July 2011.

Following my asset allocation plan, I have bought the funds below (through the broker stated in brackets):

  1. iShares MSCI Europe ETF (Saxo)
  2. Lyxor Asia Pacific Ex Japan ETF (SCB)
  3. Lyxor Japan ETF (SCB)
  4. iShares Citigroup Global Government Bond ETF (Saxo)

On the other hand, I have taken the opportunity in the recent rise of bond price to sell Legg Mason Global Bond Trust, an actively managed unit trust fund. Following the sale, I do not have any actively managed fund in my portfolio, except UOB GrowPath 2040 in CPF SA. I will allocate the sale proceed to US equity, again, according to asset allocation plan.

Portfolio activity, May 2010

The latest portfolio activity happened in May. It was scheduled in April but was postponed due to travelling in overseas.

According to my asset allocation plan, I needed to top up US asset class. But after allocating the required amount from my fresh fund to the US asset class, there was some, but not much, surplus left. I could allocate this surplus to the asset class that almost reached the bottom threshold of its allocation, which was Asia Pacific ex Japan.

In the end, I topped up only the US asset class with all the fresh fund to save time and commission, since the top up of Asia Pacific ex Japan by the relatively small surplus did not change much the allocation of all asset classes.

Portfolio activity, October-November 2009

October is the time to do my semi-annual purchase of funds. My asset allocation plan shows that I need to top up two asset classes:

  1. Europe equity
  2. Japan equity

No top up for REITs as the current holdings in my portfolio is over the target allocation already, because I have accepted a number of rights issues offered by some of the REITs.

For Europe equity and Japan equity, the funds that I will use remain the same: iShares MSCI Europe ETF and Lyxor Japan (TOPIX) ETF respectively. There is an alternative to Europe equity: Lyxor MSCI Europe ETF that was listed in SGX a week ago.  The broker fee to buy this ETF is cheaper than iShares MSCI Europe ETF, which is listed in London Stock Exchange. But for now,  I will give Lyxor MSCI Europe ETF a miss because it is quite new and the asset under management is only slightly more than USD 6 million.

I have made the transaction for Lyxor Japan (TOPIX) ETF and will buy iShares MSCI Europe ETF next week, after its ex-date on 28-Oct-2009.

Portfolio activity, April-July 2009

Just to update my regular fund purchase in April. The asset allocation plan in April indicated top up required for asset classes:

  1. US
  2. Asia Pacific Ex Japan
  3. REIT

I have only bought REIT in April, while I was preparing for the funds for the rest. When the fund was ready, it was July and the asset allocation had changed due to the rise in Asian stock markets. The asset classes to top up in July was US equity only, for which I bought Vanguard Total Stock Market ETF (VTI).

As of 7-September-2009, my portfolio allocation is shown below.

Current Target
Equity 67% 75%
US 23% 25%
EU 14% 20%
JP 4% 5%
APEJ 8% 10%
SG 4% 5%
REIT 14% 10%
Fixed Income 33% 25%
Global 7% 10%
Asia 6% 5%
SG 13% 10%
Cash 7% 0%

The next regular fund purchase is in October. The 7% cash shown above is the savings for this coming purchase.

Making payment to FSM from Citibank

Making payment to Fundsupermart (FSM) from internet banking is easy, just select “iFast Financial” as the payee. For Citibank internet banking, iFast is not in the payee list, so I need to pay by electronic cheque.

However, the text box is not long enough to type in the payee “iFAST Financial-Client Trust Account” (!). Citibank said this is a system limitation, so I ask FSM for a shorter payee name and it is “iFAST Financial-Client Trust Acc“. Below is the information for setting up cheque payment to FSM.

Remember to enter your FSM account no. in the Message box when making payment.

Payee Name: IFAST FINANCIAL-CLIENT TRUST ACC
Address Line 1: 20 RAFFLES PLACE
Address Line 2: #10-03 OCEAN TOWERS
Address Line 3: SINGAPORE
Address Line 4: 048620
Payment Method: Paid by check