Illustrative image (Source: Internet) Singapore (VNA) – About 32,000 individuals invested 810 million SDG in risk-free Singapore Savings Bonds (SSBs) over the last six months, the Monetary Authority of Singapore (MAS) announced.
The Singaporean Government’s aims to mobilise 2-4 billion SGD in 2016.
MAS statistics showed that nearly half, or 49 percent of the investors, bought bonds with par values of 10,000 SGD and below, while about 25 percent of them buying others valuing from 40,000 SGD to the maximum of 50,000 SGD.
MAS added that up to 19 percent of bondholders had recently opened accounts with the Central Depository, suggesting a significant amount of first-time investors.
To realise the target of offering 4 billion SGD of savings bonds this year, MAS said it will step up communication campaigns.
The agency will also cooperate with its partners to hold meetings to share experience in setting up financial plans for individual investors, especially targeting those who are at retirement age.
The Saving Bonds were first offered in September 2015 for October issuance. The non-tradable 10-year bonds may be redeemed by the bondholder every month, and the yield at redemption will match the average yield of a Singapore government bond that was issued in the month before issuance and that matures at the time of redemption.-VNA
