Non-Monetary Benefits Schedule | DBS Treasures Private Client

Monetary and Non-Monetary Benefits Schedule

(With effect from 01 January 2025)The Schedule shows the standard fees charged by DBS Treasures Private Client for services provided to clients. All fees are charged in Singapore Dollars (SGD).

INVESTMENT PRODUCTS / SERVICES – MONETARY AND NON-MONETARY BENEFITS RECEIVABLE BY THE BANK AND/OR ITS ASSOCIATESThe benefits listed below are not exhaustive. In exceptional cases, the benefits for certain specialised products may fall outside the scope of the list below and, in such event, the client will be notified accordingly. If you have any queries about the below, please contact your Relationship Manager.For accounts with the Bank managed by DBS Bank (Hong Kong) Limited (“DBSHK”), DBSHK may share a portion of the monetary and/or non-monetary benefits receivable or received by the Bank.In this Schedule, the “Bank” refers to DBS Treasures Private Client.

Section A: Transactions where the Bank acts as principal¹For such transactions, the Bank will generally quote an “all-in” price which includes the interbank price and a sales and trading mark-up. Such sales and trading mark-up will not exceed the maximum dollar amount or percentage range detailed below, unless the client agrees otherwise.

Where the Bank is able to execute the transaction at a better interbank price, the Bank may, subject to the above, retain the benefit from such price improvement. However, where the Bank has committed to a different charging structure, including a fixed sales and trading mark-up, the Bank will honour all such arrangements.

Type of Investment / Product

Monetary and/or non-monetary benefits receivable by the Bank and/or its associates²

Currency Linked Investments³

Up to half of the cost yield⁴

Equity-Linked Notes^{3 and 5}

Up to half of the cost yield⁴

Structured Warrants⁶ and OTC Derivatives Transactions⁶ (applicable to both inception and redemption trades)

Structured Warrants
Up to the lower of a and b
a. Half of the option premium⁷
b.
- Tenor up to 1 year: Up to 2.25% of the notional amount of the trade
- Tenor greater than 1 year and up to 3 years: Up to 3% of the notional amount of the trade
- Tenor greater than 3 years and up to 5 years: Up to 4% of the notional amount of the trade
- Tenor beyond 5 years: Up to 5% of the notional amount of the trade

Single Options and Bundle of Options⁸, covering interest rates, credit, FX, commodities, funds, equities and cryptocurrencies: - Up to half of the option premium⁷.

Swaps, OTC Accumulators / Decumulators⁹, covering interest rates, credit, FX¹⁰, commodities, funds, equities and cryptocurrencies: - Tenor up to 1 year: Up to 2.25% of the notional amount of the trade
- Tenor greater than 1 year and up to 3 years: Up to 3% of the notional amount of the trade
- Tenor greater than 3 years and up to 5 years: Up to 4% of the notional amount of the trade
- Tenor beyond 5 years: Up to 5% of the notional amount of the trade

All Other Structured Products¹¹ (applicable to both inception and redemption trades)

- Tenor up to 1 year: Up to 2.25% of the notional amount of the trade
- Tenor greater than 1 year and up to 3 years: Up to 3% of the notional amount of the trade
- Tenor greater than 3 years and up to 5 years: Up to 4% of the notional amount of the trade
- Tenor beyond 5 years: Up to 5% of the notional amount of the trade

Cash Bonds and Digital Bonds¹² (Rebates for Primary issuance)¹³

Any rebate, commission or fee received from the issuer will be up to 1% of the notional amount of the trade and will be disclosed to the client on a pre-trade basis

For SGD denominated bonds, the rebate is up to 0.25% of the notional amount of the trade

Cash Bonds (Primary and Secondary market)¹⁴

- Tenor up to 5 years: Up to 1% of the notional amount of the trade
- Tenor greater than 5 years and up to 10 years: Up to 2% of the notional amount of the trade
- Tenor beyond 10 years: Up to 3% of the notional amount of the trade

Foreign Exchange (including Forward)

Up to 3% of prevailing FX rate¹⁵

Paper Gold (XAU) / Silver (XAG) / Platinum (XPT) / Palladium (XPD) (including Forward)

Up to 3% of prevailing XAU/XAG/XPT/XPD rate

Gold Bullion (Physical)

Up to 3% of the spot price of gold

¹ Where the Bank acts as principal, the Bank and/or any of its associates will benefit from the client’s purchase / sale of the product.
² The benefits receivable as described in this column are subject to any pre-sale process and/or documentation providing otherwise.
³ Fees and charges incurred by the Bank and/or any of its associates as well as profit margins, if any, are inherently contained and subsumed into the calculation of the interest rate, interest amounts and/or other variables of the product.
⁴ The “cost yield” refers to the annualised premium of the option sold by the client plus the interest rate.
⁵ Discounted instruments which do not pay a periodic coupon and are quoted in yield terms.
⁶ Benefits received by the Bank and/or any of its associates on the client’s purchase / sale of this product will vary depending upon a number of factors including but not limited to the notional amount, product tenor, market conditions, liquidity, etc.
⁷ “Option premium” refers to the market value of the option sold or bought by the client. For Bundle of Options, it refers to the sum of the absolute premium on each option constituting the bundle.
⁸ A “bundle of options” refers to a combination of options aggregated in one transaction.
⁹ OTC Accumulators / Decumulators include without limitation related products such as Target Accrual Redemption Forwards, Pivot Target Accrual Redemption Forwards and FX Strings. The notional amount of the FX Accumulators and Decumulators refers to the leveraged notional, while the notional amount of the Equity Accumulators and Decumulators refers to the unleveraged notional.
¹⁰ Excluding FX Forwards covered under Section A: Foreign Exchange (including Forward).
¹¹ Fees and charges incurred by the Bank and/or any of its associates as well as profit margins, if any, are inherently contained and subsumed into the calculation of the interest rate, price, interest amounts and/or other variables of the product.
¹² Digital Bond is a form of security token and is a digital representation of a bond that is issued directly by the issuer. Digital Bonds are traded on the DBS Digital Exchange.
¹³ This relates to any rebate, commission or fee receivable by the Bank and/or any of its associates from the issuer (and is in addition to the spread described in the category below under “Cash Bonds (Primary and Secondary market)”).
¹⁴ Where the Bond / Fixed Income product is a Subordinated Fixed Income Security issued by the DBS Group Holdings Ltd and/or the Bank, the Bank is acting as agent and not as advisor or principal to the client. Please refer to Section B.
¹⁵ Clients dealing in FX transactions will need to be independently apprised of situations where there is extreme or sudden market fluctuation or volatility, such as political, economic and market conditions that are difficult to predict and which could directly or indirectly affect the foreign exchange rates. In such market conditions, the spread may exceed this limit.

Section B: Transactions where the Bank acts as agent

Type of Investment / Product

Monetary and/or non-monetary benefits receivable by the Bank and/or its associates¹⁶

Investment Funds¹⁷

(i) Up to 70% of the management fee¹⁸

and/or

(ii) Up to 3% of the investment amount of the subscription trade, from the fund house

Wrappers including Structured Notes linked to Private Market Funds¹⁹

(i) Up to 1% per annum of the structuring fee
and/or
(ii) Up to 3% of the investment amount, from the issuer or the fund house

Referral Investments²⁰

Please refer to Section C.

Subordinated Fixed Income Security issued by DBS Group Holdings Ltd and/or the Bank - (Primary and Secondary market)

¹⁶ The benefits receivable as described in this column are subject to any pre-sale process and/or documentation providing otherwise.
¹⁷ Please note that the fees set out under the section for “Investment Funds” of the DBS Fee Schedule are also applicable. The Bank and/or its associates may additionally receive commissions, rebates and other fees from the product issuer and/or fund house. In addition, the Bank and/or any of its associates may receive marketing sponsorship from the product issuer and/or fund house. Separately, the Bank may, as the case may be, receive from the fund house either or both (i) the benefits pegged to the management fee receivable by the fund house; and/or (ii) fees pegged to the investment amount of the subscription trade, as described.
¹⁸ The reference to “management fees” can include other components, being other types of fees, rebates or payments that the fund house receives and/or chooses to apportion to their distributors. Each fund house may differ in its classification or terminology of the fees they receive and of the fees they apportion to their distributors. For example, they may include investor relation fees and distribution fees when computing payments to their distributors. Typically we expect that the types of fees and/or amounts they pay to their distributors such as DBS would be set out in their offering documents.
¹⁹ Please note that the fees set out under the section for “Wrappers including Structured Notes linked to Private Market Funds” of the DBS Fee Schedule are also applicable. Where the fees are charged / received by the product issuer, the fees (or a portion thereof) may be passed on to the Bank and/or the Bank may receive internal recognition for such fees.

Section C: Transactions where the Bank acts as referrer or distributor
Referrer

Type of Product / Service

Fee receivable by the Bank from a third party / product provider

Referral Investments²⁰

Referral Fee: Up to 3% of the committed investment amount²¹

and

Performance Fee: Up to 2.5% carried interest²²and

Funds that are custodised upon successful referral: Up to 70% of the management fee¹⁸

Insurance (Broker model)²³

The Bank receives from the insurance broker up to 70% of the amount equivalent to the “Total Distribution Cost To-Date” payable to the insurance broker. The “Total Distribution Cost To-Date” is set out in the “Policy Illustration” section of the insurance policy.

Distributor

Type of Product / Service

Monetary and/or non-monetary benefits receivable by the Bank and/or its associates

Insurance (Direct model)²⁴

The Bank receives the amount equivalent to the “Total Distribution Cost To-Date” as set out in the “Policy Illustration” section of the insurance policy.

²⁰Referral Investments is a referral service where the Bank refers the client to the external company or other entity, thereby providing the client with access to investment opportunities (for example, in companies and funds) which the Bank may be apprised of from time to time. The fees set out herein would apply to other referrals where the Bank receives fees, unless conducted via other divisions. Investments referred by the Bank may be custodised by the Bank, but are typically not DBS approved products for the purposes of formulating any houseview recommendations and are not part of any/ the full suite of suitability discussions.
²¹ The “committed investment amount” refers to the capital amount the client has agreed to commit to the relevant investment, prior to any fees or charges charged in addition to such amount. Typically the Bank receives fees from the company/fund (“issuer”) for such successful referral. However, in some instances, such referral fees may be paid by both the issuer as well as the client, or paid by the client solely, to the Bank, and will be disclosed to the client during referral.
²² Share of profits of a fund’s investment payable to a fund manager in connection with its fund management activities.
²³ The broker model involves the Bank referring the client to an insurance broker in respect of a sale of the third-party insurance policy.
²⁴ The direct model involves the Bank making a direct sale to the client of the third-party insurance policy. The Bank acts in the capacity as distributor.

Section D: Transactions where DBS Treasures Private Client (the “Bank”) carries out other functions(Also applicable where any of DBS Treasures Private Client and DBS Treasures carries out other functions and receive fees for that)The Bank may be appointed by and/or agree with the issuer (“issuer” which also includes any entities within the issuer’s group structure) to carry out different functions in connection with the investment product. Such functions include and are not limited to the provision of recommendations or advice on portfolio construction of the product and/or its underlying components.The Bank will receive fees and/or other benefits from the issuer which may (for example) be pegged to the index or strategy value or based on the NAV of the product, and/or paid out of fees that the issuer in turn receives from the investors. The aforesaid is subject to the structure and nature of each such investment product.Other divisions of DBS Bank Ltd. may also hold various roles and receive fees from the issuer in connection therewith, all of which are separate from the disclosures herein. Fees receivable by other divisions may in turn be internally allocated or accounted to the Bank.

Important Notes:

DBS Bank Ltd. is an affiliate of DBS Group Holdings Ltd and may act as both issuer and distributor of a Structured Note and/or other investment product. The client, in choosing to transact in the product, acknowledges and accepts the aforementioned notwithstanding that there are Chinese Wall policies in DBS Bank Ltd.
In cases of early termination of an investment product before its maturity, the client may receive less than the principal amount initially invested or potentially lose the entire principal sum invested in the product. In addition, there may be administrative fees, charges and, if applicable, Premature Termination Costs (as defined in the DBS Treasures Private Client and Investment Services Agreement) imposed in connection with the early termination of the product.
Where clients trade in investment products through divisions other than the Bank, and/or where investment services are provided to clients by other divisions, there may be fees and charges imposed by these divisions which are separate from and not set out in this Fee Schedule. For queries relating to such products or services, please check with your usual contact and/or relationship manager.

Fees and charges of the relevant division(s) as well as profit margins, if any, may be inherently contained and subsumed into the calculation of the interest rate, interest amounts and/or other variables of the product.

Depending on the transaction, benefits received by the relevant division(s) on the client’s purchase / sale of this product can vary depending upon a number of factors including but not limited to the notional amount, product tenor, market conditions, liquidity, etc.
GST will be applicable for Singapore residents.
Operational or system constraints, such as rounding practices, may result in the final fees, charges or benefit marginally exceeding the maximum dollar amount or percentage range detailed herein. Further, certain charges or expenses incurred by the Bank on your behalf and charged to your account may also be rounded up. Depending on the product, such rounding may apply to the amount or percentage as the case may be.
The above monetary and/or non-monetary benefits are subject to review from time to time at the discretion of the Bank.
All charges for retail services or transactions that are done via a retail platform will be accorded based on the DBS Treasures Pricing Guide. DBS Treasures Pricing Guide is available via go.dbs.com/sg-tre-pricing-guide

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