DBS Up Is Back!

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New tranche is included under CPF Investment Scheme

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Second Tranche Of Up Aims To Repeat Success Of First Tranche

SINGAPORE, MAR 13 - DBS Asset Management (DBSAM) announced the re-launch of Up, its popular and distinctive unit trust that offers investors guaranteed minimum returns, guarantee of principal, plus an upside potential.

Managing Director of DBSAM Patrick Tan said that he was excited about the re- launch following the success of the first tranche.

"The appeal of Up is its simplicity, where investors get an opportunity to enjoy better returns than the minimum guaranteed," he said.

"At the same time investors are assured the comfort of guaranteed minimum returns and capital protection."

For Up, investors can choose from tenures of five or seven years, offering minimum guaranteed returns of up to 3% depending on tenure. Investors can expect projected target returns of 8% p.a. or more, or 56% over the investment period*.

"We are confident that this tranche of Up will be as well received as the first, especially now that it is included under the CPF Investment Scheme (Special Account and Ordinary Account), and has been granted Trustee status." said Tan

Up netted around $160 million at closing time when it was launched in November last year. It has been the most successful and best selling guaranteed fund in the market to date.

Tan said that DBSAM was pleased with the overwhelming response when Up was first launched in November last year.

"Up was the first and only unit trust of its kind then and that seems to have struck a positive chord among investors," said Tan.

"Our first tranche was over-subscribed within a month, and many customers asked us when the next tranche of Up will be made available."

Up is now available in tenures of five and seven years, and this is in direct response to how the sales were registered for the first tranche. For the earlier tranche of Up, the longer term tenure of 5 years was the most popular among investors.

"Investors understand that Up is a long term, high quality and low risk product, and are comfortable to invest investing capital that would have otherwise been committed to long-term fixed deposits." said Tan.

Up will be made available over a limited period between March 13 and April 20, 2001. As with the first tranche, Up will close early in the event it is fully subscribed before the offer period ends. The bulk of investments for Up will be in fixed income, comprising 'single A-rated and above' international instruments. Up can only be purchased at DBS/POSB ATMs, DBS branches or DBS Securities.

Up is available in lots of 1,000 units, with a minimum investment of S$5,000 at the offer price of S$1.00 per unit (including sales charge). Investors will enjoy a 0.25% discount for amounts less than S$100,000, and a 0.5% discount for amounts equal or above S$100,000 in the form of bonus units.

About DBS Asset Management (DBSAM):

DBSAM is one of the largest and most experienced investment management organizations in Singapore. It manages close to S$4 billion in assets for institutional and retail clients. DBSAM has almost 20 years experience in investment management as a company. More than half of its investment team have over 10 years of experience each.