The guys over at SGEntrepreneur, has done a follow-up interview with Mr Leonard Lin, co-founder of Tyler Projects and got a quick update on what he and his scurvy crew are up to. Tyler Projects is a local software startup that is renowned for its popular Facebook MMO game “BattleStations”.
A SECOND group of Lehman Minibond investors has announced plans to take the distributors and trustee of the failed product to court.
The investors – they call themselves the Minibond Investors Action Group or MIAG – appears to be larger than a 250-strong group that threatened legal action last week.
It also appears to have a more concrete legal strategy.
The organisers hope to get about 1,000 investors to commit between $2,000 to $3,000 each for a $2.5 million warchest that will fund court action, possibly in May, against the various Minibond distributors and and the products’ trustee, HSBC Trustee.
DBS STI ETF started trading yesterday.
According to the notice filed by DBS, 2,411,410 units were created at an issue price of $1.62 per unit. This works out to a total fund size of about $3.9 million.
It looks that the amount of funds raised is quite small. As the fund has a minimum trustee fee of $48k per year, this means the expense ratio would exceed 1% (at the current fund size).
Unless DBS can get more institutional interest into this fund, the small fund size will most likely mean it will be a loss making ETF for them.
As a comparison, Streettracks STI ETF has 256 million units in circulation with a fund size of almost $400 million.
