One Singapore-based financial services professional, who asked to remain anonymous, lost between 30% to 40% of the US$400,000 he invested in fixed coupon notes tied to shares including Microsoft Corp, Broadcom Inc and India’s ICICI Bank Ltd.
SINGAPORE: A popular investment among Asia’s wealthy in the years of rock-bottom interest rates has been upended in the recent market rout, leaving investors facing losses estimated to be in the billions of US dollars.
Structured products called fixed coupon notes attracted scores of private banking clients in Hong Kong and Singapore in recent years, according to half a dozen bankers and advisers Bloomberg spoke with.
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