DBS’ private banking arm is seeing strong client demand for in-house managed investment products, with assets under management for such products hitting the S$10 billion($7.43 billion) mark.
The bank more than doubled AUM for its suite of managed investment products in the past year alone, DBS said in a statement on Thursday
With growing appetite among investors the bank launched two new products in July – the I.D.E.A Fund and ESG Focus Note, which tap on opportunities in digitalization and ESG respectively. The two products have raised S$550 million since their rollout, DBS said.
The bank said that with its new products, it hopes to play a larger role in the overall construction of portfolios for clients seeking long-term capital appreciation and income generation.
Holistic Offering
«Our views have earned their confidence, which led us to take things further and create bespoke portfolio solutions that employ these strategies, so our clients can easily and conveniently invest in them,» Hou Wey Fook, DBS chief investment officer, said.
DBS Private Bank's first in-house managed investment product, the DBS Global Income Note, has generated an annualised 7 percent return since inception in 2019. Its DBS CIO Barbell Strategy Portfolio, which mirrors the CIO’s «Barbell» investment strategy, has returned 33 percent return since inception.
«The aim of developing in-house managed products is to complement the diligently selected suite of third-party mutual funds on our platform, ultimately availing a more holistic offering for our clients,» Hou said.
