Digibanks products (GXS bank, Maribank and trust bank)

[sohguanh]

Does other MMF/fixed income fund include non-trading days in their int calculation?

Anyone done a comparison of the fund vs other mmf/fixed income fund?

My emergency fund is in endowsus for 4.5-4.8% but I'm looking for liquidity for my daily/active cash hence I put a sum into this mari invest as they are able to provide instant withdrawal.

You have the same thinking as I. Unfortunately this Saveplus is quite lousy even though I was going for the instant withdrawal feature.

Just compare with Fullerton Cash Fund using same dates.
Saveplus
0.9999 05Jul2023
1.0057 22Sep2023
Diff is increase of 0.0058

Fullerton
1.1330 05Jul2023
1.1423 22Sep2023
Diff is increase of 0.0093 <- about 1/3 more than Saveplus

So for instant withdrawal I will stick back to CIMB casa at 3.5% (although they give me in 2 parts Base later then Bonus)

Edit: Verified instant withdrawal works. Just test water sell for $1 and it is indeed instant.

 

[WeinanTan]

One thing I noticed about Trust credit card is they will request for your credit score every month. So far check with other friend, they go in their CBS to check and found it is true. As I know frequent check of credit score by financial institution might cause some people credit score to drop.

 

[sglandscape]

One thing I noticed about Trust credit card is they will request for your credit score every month. So far check with other friend, they go in their CBS to check and found it is true. As I know frequent check of credit score by financial institution might cause some people credit score to drop.

Review query is not counted, it's only for new credit application. Anyway most banks use their own model and not based on what CBS says.

 

[WeinanTan]

Review query is not counted, it's only for new credit application. Anyway most banks use their own model and not based on what CBS says.

It is not for new credit card application, they check the credit score every month for past 6 months

 

[sglandscape]

It is not for new credit card application, they check the credit score every month for past 6 months

As in credit card review checks do not reduce your credit score, only new credit application checks do.

 

[ekardo]

As in credit card review checks do not reduce your credit score, only new credit application checks do.

So applying many credit card will reduce credit ratings?

 

[Sambuca78]

So applying many credit card will reduce credit ratings?

My property agent friend told me this before.

 

[sglandscape]

So applying many credit card will reduce credit ratings?

Usually for Credit card less so (assume you pay off in full). If you applied for many personal credit lines (even if not drawn) would impact for sure

 

[iduncheckmail]

My property agent friend told me this before.

Hahahaha and u believe him ???

 

[jinsatkilife]

A shy reader has PM me and inform perhaps the calendar days take into account weekend like Sat,Sun. If that is the case, think this MariBank Saveplus is giving very lousy returns. Readers can don't invest.

I use a longer period based on the downloaded NAV csv file.
0.9999 05-Jul-2023
1.0057 22-Sep-2023
Total number of days is 80 (include all Sat,Sun)

1.0057 - 0.9999 / 0.9999 / 80 x 365 = 2.65%

Edit: A quick chat with their CS they also not sure how the calculation is worked out just use the word past 14 days return. If that is the case we will assume that include Saturday, Sunday then. This product is quite bad returns so readers can give it a miss. CIMB casa at 3.5% can do instant withdrawal too. I will not increase any further just use the test water amount to see how it goes.

Wah even worse than Maribank saving which is 2.88%

 

[sohguanh]

Wah even worse than Maribank saving which is 2.88%

Yes indeed. But since this is fund just like stock maybe it get better along the way so I put in a test water amount to see. I think capital loss for such money market kind of fund is very low only concern is how great is the returns.

As of now, Fullerton Cash Fund no horse run. So many platform carry them. FSMOne has an article on them and promote. Even Endowus Smart Secure also got 50% which previously don't have this fund as I used to have this Smart Secure before.

 

[sohguanh]

Today it is 3.76% for past 30 days (include Sat,Sun).

I was thinking this Lion-MariBank Saveplus fund was incepted on 2023-07-04 so the first NAV is 2023-07-05. It is very young like a newborn baby. Will give it time to prove itself to be a worthy competitor to Fullerton Cash Fund. The instant withdrawal up to 10k per day is it's strongest selling point and I don't wish to give it up as yet.

 

[sglandscape]

Today it is 3.76% for past 30 days (include Sat,Sun).

I was thinking this Lion-MariBank Saveplus fund was incepted on 2023-07-04 so the first NAV is 2023-07-05. It is very young like a newborn baby. Will give it time to prove itself to be a worthy competitor to Fullerton Cash Fund. The instant withdrawal up to 10k per day is it's strongest selling point and I don't wish to give it up as yet.

"prove itself to be worthy competitor" make zero sense in this context, more so for bond fund in the current climate when rates hike a lot last year and this year. Wouldn't looking at the weighted yield be more representative?

Once the short term interest rate cuts, these funds would not be able to generate such returns anymore.

 

[sohguanh]

"prove itself to be worthy competitor" make zero sense in this context, more so for bond fund in the current climate when rates hike a lot last year and this year. Wouldn't looking at the weighted yield be more representative?

Once the short term interest rate cuts, these funds would not be able to generate such returns anymore.

This fund is not 100% bond fund. It has mas tbill in it too at around 60%. Likewise Fullerton is not bond fund too it place fixed deposit with various banks across the world. They are not a 100% bond fund. So for me I would not compare such as bond fund. Anyway I am just sharing my thoughts you are perfectly ok to disagree.

And no I am not all in into this too. I am now busy collecting SGX stock and REIT in my other threads.

 

[s0crates]

"prove itself to be worthy competitor" make zero sense in this context, more so for bond fund in the current climate when rates hike a lot last year and this year. Wouldn't looking at the weighted yield be more representative?

Once the short term interest rate cuts, these funds would not be able to generate such returns anymore.

You can check the underlying funds. It's mainly short duration bond funds from lionglobal. It's higher risk than fullerton cash.

People should look beyond the sweet wrapper and see what they are actually invested in. It's that simple. Don't need to "try try" and invest for the sake of comparing returns. Just. Look. At. The. Underlying. Investment. And. Assess.

Don't waste time spreading your investment for the sake of trying to get the returns. Returns don't explain anything.

 

[sohguanh]

For ppl who think they are smart kindly download the fund factsheet at
https://lgi.dzhintl.com/doc/uploads/documents/index.php?type=FS&fid=OFBF&lang=EN

Maybe every reader interpretation of the English word mainly short duration bond funds are different. The MAS Bill in total is around 58.80 closing to 60%. So 40% is mainly in your definition then you are correct.

Top 10 Holdings (% of NAV)
LIONGLOBAL NEW WEALTH SERIES - LION GLOBAL SGD ENHANCED LIQUIDITY FUND 14.7
MAS BILL (SER 84) ZCP 04/08/2023 14.7
MAS BILL (SER 28) ZCP 11/08/2023 14.7
MAS BILL (SER 28) ZCP 18/08/2023 14.7
MAS BILL (SER 28) ZCP 25/08/2023 14.7
LIONGLOBAL SHORT DURATION BOND FUND 9.8

PS When I invest in mutual fund maybe some young readers in this forum still studying or just born to this world. So please for young investors always download the fund factsheet and read for yourself. If you think the fund factsheet is "doctored" then yes please ignore this fund then.

 

[s0crates]

For ppl who think they are smart kindly download the fund factsheet at
https://lgi.dzhintl.com/doc/uploads/documents/index.php?type=FS&fid=OFBF&lang=EN

Maybe every reader interpretation of the English word mainly short duration bond funds are different. The MAS Bill in total is around 58.80 closing to 60%. So 40% is mainly in your definition then you are correct.

Top 10 Holdings (% of NAV)
LIONGLOBAL NEW WEALTH SERIES - LION GLOBAL SGD ENHANCED LIQUIDITY FUND 14.7
MAS BILL (SER 84) ZCP 04/08/2023 14.7
MAS BILL (SER 28) ZCP 11/08/2023 14.7
MAS BILL (SER 28) ZCP 18/08/2023 14.7
MAS BILL (SER 28) ZCP 25/08/2023 14.7
LIONGLOBAL SHORT DURATION BOND FUND 9.8

PS When I invest in mutual fund maybe some young readers in this forum still studying or just born to this world. So please for young investors always download the fund factsheet and read for yourself. If you think the fund factsheet is "doctored" then yes please ignore this fund then.

Yes you are right for now. Have you seen the fund prospectus and the mandate given though?

It clearly states that LGI has the right to invest in up to 100% of the fund in LGI funds, and they can maintain a weighted duration of 2 years or less.

That's the level of risk you have to eventually be comfortable managing. Fund size is very small now. Later on they may just add more LGI funds.

2 Investment Approach The Sub-Fund’s approach to enhancing income while providing liquidity is to invest in a high-quality portfolio of debt instruments diversified across varying issuers and tenures while maintaining a weighted average portfolio credit rating of BBB- or higher and a weighted average duration of 24 months or less. The portfolio’s base currency is SGD. The Sub-Fund may invest in a range of debt instruments including bonds, notes, bills, deposits and other debt securities deemed appropriate by the managers. The obligors of these instruments include but are not limited to corporates, sovereigns, supranationals, government agencies and financial institutions. We may use FDIs for such purposes as may be permitted under the Code and subject to compliance with the limits and/or restrictions (if any) applicable to Excluded Investment Products and prescribed capital markets products. The portfolio’s base currency is SGD and foreign currency denominated securities will be fully hedged back to SGD except for a 5% frictional currency limit (to account for possible deviations from a 100% hedge). Subject to the provisions of the Code, we may, from time to time, invest the deposited property of the Sub-Fund in other collective investment schemes that may or may not be managed by us and whose investment objectives are to invest all or substantially all of their assets in fixed income instruments or bonds. Investments of 30% or more into any underlying funds In addition, the Sub-Fund may invest 30% or more (which percentage may vary from time to time at our discretion) into each of: (i) LionGlobal Short Duration Bond Fund, (ii) LionGlobal SGD Enhanced Liquidity Fund, (iii) LionGlobal USD Enhanced Liquidity Fund, and (iv) LionGlobal SGD Money Market Fund. We are the manager of the LionGlobal Short Duration Bond Fund, the LionGlobal SGD Enhanced Liquidity Fund, the LionGlobal USD Enhanced Liquidity Fund and the LionGlobal SGD Money Market Fund. Our track record can be found under paragraph 2 of the main body of this Prospectus.

 

[GenerationX]

I just opened Maribank acc. wa need face to withdraw money ar -_-"

 

[sohguanh]

I just opened Maribank acc. wa need face to withdraw money ar -_-"

Super siao onz digital bank

 

[WoShiPro]

Submitted request to withdraw all my funds from mari saveplus. I'm going to put inside scb e-saver for 3.5% from oct - nov. Then move to the next highest int rate acc in Dec..