On Tuesday, OCBC Bank partners with SGX to launch the OCBC Blue Chip Investment Plan (BCIP). Under this plan, investors can opt to use cash, CPF or their SRS accounts to invest a fixed amount on a monthly basis. For as little as $100 a month, retail investors can get to invest in local blue chips.
You do not need to go through the hassle and open any securities trading account or Central Depository (Pte) Ltd securities account for your shares under this plan.All you need is an OCBC deposit account, OCBC CPF Investment Account or OCBC SRS account.My view on this scheme is that OCBC has identified a gap in the market and that this scheme is actually meant to address this gap. According to SGX, retail investors account for only 89 per cent of the daily turnover for stocks with a market capitalisation of under S$200 million. ...
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