UOBAM said in a statement that it has launched its own digital advisory service UOBAM Invest that bids to allow companies to manage their discretionary investments through the firm’s portfolio solutions and in some cases achieve results within a matter of minutes.
According to UOBAM Singapore the new digital service is offered exclusively to UOB’s commercial banking clients, which are mainly medium-sized companies. The launch is the city state’s first digital advisory service for companies to manage their discretionary investments, UOB said.
It will be offered to the bank’s other corporate clients, as well as to retail investors, and across UOBAM’s network in Asia, in subsequent phases.
Through the service, clients will be able to submit their financial information, obtain their risk profile, and receive an investment portfolio proposal in minutes.
The clients can choose to invest in the proposed portfolio or to adjust it.
Thio Boon Kiat, group chief executive, UOBAM, said: “At UOBAM, we have observed our clients’ increasing preference to receive investment advisory and to manage their investments digitally. Using our proprietary screening methodology and asset allocation framework, we designed UOBAM Invest to meet the needs of these investors and to make our portfolio solutions easily accessible online.”
Portfolio creation
The portfolios will be created from a wide range of UOBAM-managed funds and global exchange-traded funds (ETFs) spanning various asset classes, such as equities, high-yield and investment-grade bonds, as well as money market and short-term fixed income.
UOBAM Invest said that a conservative portfolio will typically comprise ETFs or unit trusts that are invested mainly in government bonds, money market and short-term fixed income. The most aggressive portfolio will largely consist of ETFs or unit trusts that are equities-based, and a small allocation to those that are focused on high-yield bonds.
Eric Tham, head of UOB group commercial banking, said: “Our clients look to discretionary investments in various fund products to maximise their returns and to strengthen their balance sheets. However, as they focus on their day-to-day business operations, they may not be able to afford the time needed to choose and to track their investment portfolios closely. With UOBAM Invest, it is now more convenient for our clients to manage these investments with UOBAM.”
Technology partner
UOBAM’s technology partner on UOBAM Invest is FNZ Group, a global FinTech company specialising in providing multi-channel wealth management services to the financial services and wealth management sectors.
UOB Asset Management Ltd (UOBAM) is a wholly-owned subsidiary of United Overseas Bank Limited. Established in 1986, UOBAM has been managing collective investment schemes and discretionary funds in Singapore for more than 30 years. As at 30 November 2017, UOBAM and its ubsidiaries manage about S$33.9bn (US$25.2bn) in clients’ assets. UOBAM has an extensive presence in Asia with regional business and investment offices in Malaysia, Thailand, Brunei, Taiwan and Japan.