DBS’s private banking arm is seeing strong client demand for internally managed investment products, with assets under management of these products reaching S $ 10 billion ($ 7.43 billion).
The bank has more than doubled the assets under management of its line of managed investment products in the past year alone, DBS said in a statement Thursday.
Faced with the growing appetite of investors, the bank launched two new products in July: the IDEA fund and the ESG Focus rating, which respectively exploit the opportunities of digitization and ESG. Both products have raised S $ 550 million since their launch, DBS said.
The bank said that with its new products, it hopes to play a bigger role in the overall construction of portfolios for clients seeking long-term capital appreciation and income generation.
“Our views have earned their trust, which has led us to go further and create bespoke portfolio solutions that utilize these strategies, so that our clients can easily and conveniently invest in them. ” Hou Wey Fook, said DBS’s chief investment officer.
DBS Private Bank’s first internally managed investment product, the DBS Global Income Note, has generated an annualized return of 7% since its inception in 2019. Its DBS CIO Barbell strategy portfolio, which reflects the investment strategy “ Barbell ”from the CIO, generated a return of 33%. back from creation.
“The goal of developing internally managed products is to complement the range of carefully selected third-party mutual funds on our platform, in order to provide a more comprehensive offering to our clients,” said Hou.