UOB's discretionary portfolio management AUM tripled in 2017

UOB announced that its total wealth management assets under management was at S$104 billion, on Feb 21, 2018.
UOB announced that its total wealth management assets under management was at S$104 billion, on Feb 21, 2018. PHOTO: ST FILE

SINGAPORE - United Overseas Bank Limited (UOB) announced on Wednesday (Feb 21) its discretionary portfolio management (DPM) assets under management (AUM) for its private banking clients in 2017 has tripled, bringing the bank's total wealth management AUM to S$104 billion.

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

UOB says 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.