HSBC service<\/p>\n
On Sunday, July 31, I was in Plaza Indonesia's Coffee Bean and
\nTea Leaf cafe. In front of the cafe there was a HSBC promotion
\nbooth offering the chance for Premier clients to win a Jaguar.<\/p>\n
I approached and was referred to a female attendant. I asked
\nher about investing hundreds of millions of rupiah for three
\nmonths or less. She advised that I try Manulife's FlexInvest, a
\nmoney market fund that she said offered competitive returns
\ncompared with bank interest rates. I agreed to invest and she
\nasked me to fill out an application form. She also gave me some
\ngifts.<\/p>\n
In the evening I opened up and researched the fund on the
\nwebsite, which stated that the fund's total performance was 4.55
\npercent and had a monthly rate of 0.61 percent, but there was a
\nmanagement fee of up to 1.5 percent and a custodian fee of 0.25
\npercent. For my investment it is 1.25 percent.<\/p>\n
If I were to invest in the fund, I would lose if compared to a
\nshort-term bank time deposit, even though the woman at the HSBC
\nbooth said I would earn more through the fund than with a time
\ndeposit. Perhaps over two or three years that would be correct,
\nbut not over three months. I have not transferred any funds to
\nthe HSBC.<\/p>\n
HSBC lures prospective clients with expensive gifts but
\nforgets to make money for them. What is important is commissions
\nfor banks. I wonder with an investment of Rp 1.269 trillion, how
\nmany people were lured into investing, and how much in
\ncommissions do the bank and fund manager make?<\/p>\n
HIMAWAN D. SUSASTRA, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/hsbc-service-1447899208", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }