As part of efforts to democratize its discretionary mandate offering, Standard Chartered launched a unitized fund version which has seen asset inflows nearly double.
Standard Chartered’s suite of «Signature CIO Funds» has raised $1.8 billion in assets, according to a statement, almost doubling from a year ago.
The funds are a unitized version of the bank’s discretionary portfolio management (DPM) offering which is typically only available to private banking clients. Under the fund wrapper, DPM has been democratized and made accessible to retail clients across 12 markets.
Fund Performance
The suite includes four different funds: conservative, income, balanced and growth. Standard Chartered acts as the investment advisor, advising on asset allocation and the underlying securities for investment. Paris-based Amundi Asset Management acts as the investment manager. Since launching in October 2022, the growth fund has delivered a return of more than 38 percent.
«The strong demand we’ve seen for the Funds across our markets, especially from Singapore, Hong Kong, Korea and Malaysia, is a vote of confidence from our clients,» said Samir Subberwal, global head, wealth solutions, deposits and mortgages, and chief client officer.
«Despite rate cuts by the US Federal Reserve, we continue to see the Funds that offer attractive income distribution such as the Income and Conservative Signature CIO Funds garnering the most attention.»
