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Another DBS funds with Lehman exposure

Cheekg98

By Cheekg98,
in Lite & EZ

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B777jubilee

B777jubilee

2nd Gear

that company champion. one of their so called cash fund which is managed like a money market fund has lost 6% in 3 days! Apparently it was due to their exposure to Lehman. In fact, they have 2 funds that have approximately 5% exposure to Lehman but it is not mentioned in this letter

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B777jubilee

B777jubilee

2nd Gear

http://www.fundsupermart.com/main/communit...d=001803&page=1

 

See the discussion. Many years ago, DBS Asset Management have 1 or 2 funds that have huge exposure to the failed Citiraya in their equities portfolio. Apparently they take concentrated bets and when the company failed due to fraud, the fund is badly affected. Seems like they never learn their lesson, a conservative fund can lose 6% in less than 1 week. It doesn't take a rocket scientist to know that he shouldnt take huge position in US financial institutions.

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