The robo-advisor includes sustainable investing solutions among its offerings, which are created by UOBAM exclusively for Dash customers.
Singtel is launching a new digital advisor by UOB Asset Management (UOBAM) on its Dash e-wallet, according to an announcement on Tuesday.
The robo-adviser aims to optimise and generate stable long-term portfolio returns through a hybrid investment strategy, the announcement said. UOBAM Robo-Invest currently offers two exclusive portfolio options on the platform: the Global and Global Impact portfolios, which invest in a combination of actively managed funds and passively-managed exchange-traded funds.
Users will have to first set up a UOBAM investment account within Dash which will be used to hold the investment capital. They can then start investing from S$1 and at annual advisory rates of 0.60–0.80 percent.
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«We hope to democratise finance by harnessing technology to offer an inclusive suite of high-quality services. This new investment service delivers on our commitment to make it simple, affordable and convenient for Dash customers to manage their finances and build their wealth,» Gilbert Chuah, Singtel's head of financial and lifestyle services at consumer Singapore, said in the announcement.
With over 1.2 million registered users, Dash is among the largest non-bank mobile wallets in Singapore. Since its launch in 2014, the app has expanded beyond payments and mobile remittance to include lifestyle services like restaurant bookings and insurance.
Singtel, as part of a consortium with Grab, is one of two recipients of a full digital bank license from the Monetary Authority of Singapore. The consortium aims to formally launch the digital bank in early 2022.
