ya lor, if u want proof, go check out the POSB InvestSaver thread, I think a lot of them wondering why their purchases and redemptions don't match the market price...it wasn't until recently someone commented that there is a possibility that it's a dark pool/market maker system that everyone then understood this is a double-edged sword...
I am just guess and i am likely wrong
In case dbs sues me
They take the $$ and issue units
So many the $$$ is vested in their internal fund for higher returns
Basically they just taking your dca on sti etf as bet slips only
Maybe investors can make 6-8% long term on sti etf
But their internal fund can make 10% or higher so they pocket the difference, so the $1 commission is just token sum
The dca warriors are funding them capital instead
Disclaimer just my guess and this is likely not true
Do not sue me