Wednesday, June 1, 2016

stopping of STI ETF rsp

I have been doing regular savings plan (rsp) on the STI ETF for a while already. This was done under the Stanchart brokerage account which has a no minimum commission. Buying 100 units of STI ETF will only incur a commission of less than a dollar. 

Details of all transactions for my rsp so far are logged here: STI ETF RSP

However, with effect from August, this will no longer be applicable. Stanchart will be charging a minimum commission of $10. With this new charges, it will be very expensive to continue with a monthly rsp. I am exploring other ways to continue the rsp (e.g. POSB invest saver, OCBC blue chip investment plan, poems share builder and Maybank Kim Eng monthly investment plan). However, it seems that they have pretty high charges too.

For now, I will probably continue the rsp up to July. After which, I will stop the monthly rsp. For my existing STI ETF units, I will continue to hold them with Stanchart for now. In the event I want to sell them later, a $10 min commission is still cheaper than other brokerages.