Monetary and Non-Monetary Benefits Schedule
INVESTMENT PRODUCTS / SERVICES – MONETARY AND NON-MONETARY BENEFITS RECEIVABLE BY THE BANK AND/OR ITS ASSOCIATES
The benefits listed below are not exhaustive. In exceptional cases, the benefits for certain specialized 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.
For all other investment products not listed below, the fees and benefits listed in DBS Private Bank Fee Schedule shall apply.
In this Schedule, the “Bank” refers to DBS Treasures.
Section A: Transactions where the Bank acts as principal1
For 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 Notes3,5 | Up to half of the cost yield4 |
| OTC Derivatives Transactions6 (applicable to both inception and redemption trades) | Single Options, covering FX, Commodities and Equities: Up to half of the option premium7 |
| All Other Structured Products8 (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 (Rebates for Primary issuance)9 | 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)10 | - 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 rate11 |
| Paper Gold (XAU) / Silver (XAG) (including Forward) | Up to 3% of prevailing XAU/XAG rate |
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 associates12 |
|---|
| Investment Funds13 | (i) Up to 70% of management fees14
and/or
(ii) Up to 3% of the investment amount of the subscription trade, from the fund house |
| Subordinated Fixed Income Security issued by DBS Group Holdings Ltd and/or the Bank - (Primary and secondary market) | - 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 |
Section C: Transactions where the Bank acts as referrer or distributor
| Type of Product / Service | Monetary and/or non-monetary benefits receivable by the Bank and/or its associates |
|---|
| Insurance (Direct model)15 | 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. |
Section D: Transactions where the Bank carries out other functions
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.
