Parking SRS in 2.5% endowment, but HSBC is so slow

Looking at the current market uncertainty after a small recovery, I decided to put my 2019 SRS funds into a 2.5% 3-year endowment advertised by HSBC. This is apparently the first time HSBC is entering this space. You can apply online like Singlife.

Unfortunately, as the HWZ discussion thread shows, there has been some delay in HSBC in processing the applications. Its been 2 weeks and SRS still hasn't been deducted.

When Singlife debuted their endowment plan with a promotional 3.03% rate capped at $6k, there was huge interest. Nevertheless, they processed your applications within 48 hours. Why is a huge organisation like HSBC (ok the fine print says HSBC insurance, probably a subsidiary) taking so long to process something that Singlife only took 48 hours to do?

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UPDATE: HSBC took 1 month to issue the policy. You get an e-mail of what appears to be a black and white scan of the policy. This can be compared to Singlife who issued a computer generated PDF in colour. The Singlife documents looked far more professional.

This is the first time into the online space, hope they will learn from the lesson and look forward to more policies because the rate they offered is attractive, even if the service was slow. 

Brexit deal announced with EU, Parliament not voted yet, premature rally?

I've been holding Lloyds since Brexit and it recently fell to Brexit levels. Of course my response is to buy more! 

Today, LYG back up to $3.12 while LLOY is at 61.56p after EU and UK announced a Brexit Deal. Parliament still has to vote on it if and rejected, are prices going to drop again? At this level I'm holding and not buying more. Did all my buying under $3. Bought a mixture of LLOY and LYG depending on whether I had spare US$/ GBP.

For 2019, I started buying Lloyds again in May 2019

May -  LLOY 59.43p
July  -  LLOY 52.3p
Aug  -  LLOY 49.8p / LYG $2.52 / $2.40 / $2.32  (catching the falling knife?)
Sep -   LYG  $2.63

Strategy: October 2019

I am in regular DCA mode with part of my free cash flow being diverted to warchest. ETFs are in play as a 'safer' option (i.e reduce non-systemic risk). Bought VDPX and VUKE this month.

This is a change from previous month where I used up my free cash flow to purchase equities. As the year ends, I also need to make my yearly SRS contribution and decide what to do with it. SSB 10-year rates are under 2% so it doesn't look good, on the other hand, there is no lock-in for SSB so one could switch SSBs when the time is right.

Prudential Demerger documents are out. Pru will demerge M&G. Since M&G will not be an ADR, the ADR manager will sell the M&G shares and return the cash. Prudential's dividend coverage is better than Aviva though it % yield is lower. Still an attractive buy.

Aviva remains in focus and I accumulate more this month. 

My OUEHT shares have been converted to OUECT. Next up will be my AscendasHT being converted to AscottRT due to the merger.

Dividends Collected: Sep 2019

I included the cash from the scheme of arrangement which converted OUEHT shares into OUECT shares. SIA 3.03% bonds paid their interest this month as well.