UOB discretionary portfolio management AUM triples

United Overseas Bank (UOB) said yesterday that its discretionary portfolio management (DPM) assets under management (AUM) for its private banking clients tripled last year, bringing the bank's total wealth management AUM to $104 billion.

Average returns of UOB's DPM portfolio have ranged from 10 per cent to more than 30 per cent since its launch in 2016, UOB said.

The bank said its DPM solutions entail advisers initiating and executing trades based on agreed criteria, compared to traditional advisory mandates where the client approves each trade before it is executed, and portfolio managers can adjust the asset allocation of the mandates according to changing market conditions.

A version of this article appeared in the print edition of The Straits Times on February 22, 2018, with the headline 'UOB discretionary portfolio management AUM triples'. Print Edition | Subscribe