This represents a three-fold increase.
UOB Private Bank's Discretionary Portfolio Management (DPM) assets under management for its private banking clients ballooned three-fold to hit $79.03b (S$104b) in 2017, amidst a growing investor confidence in the bank's professional in-house team whose portfolio returns average between 10-30%.
DPM solutions are where financial advisers initiate and execute trades based on agreed criteria compared with traditional advisory mandates where the client approves of every single trade before it is executed, according to a press release.
“The guiding principle we have followed as we have enhanced the capabilities of our Private Bank over the last three years has been to manage our clients’ wealth as if it were one’s own,” said UOB Private Bank managing director.
The bank uses a process of managing draw-down risk by controlling the maximum percentage a portfolio can fall using various hedging strategies which requires discipline in risk control and the ability to anticipate and to mitigate market risks.
It currently offers five DPM strategies including Asian Fixed Income, Global Income Asia Focused, Global Balanced Asia Focused, Global Growth Asia Focused and Global Equity Asia Focused.
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