Singtel has launched a new digital advisor by UOB Asset Management (UOBAM) on its mobile wallet Dash to allow its customers to offer advice on investment products.
The development follows a memorandum of understanding signed by the two companies in last December in this regard.
UOBAM Robo-Invest, which is claimed to be Singapore’s first robo-advisor on a mobile wallet, features customised sustainable investing solutions among other offerings.
It is designed to optimise and deliver stable long-term portfolio returns through a hybrid investment strategy.
Dash users can start investing with UOBAM Robo-Invest from as low as S$1 with annual advisory rates between 0.60% and 0.80%.
UOBAM Group chief marketing officer Faizal Gaffoor said: “Our collaboration with Singtel represents a step forward in the way we offer robo-advisory solutions to consumers. By embedding UOBAM Robo-Invest in the mobile wallet, we are providing Dash customers with easy access to professional investment expertise and experience that we have built over more than three decades.”
At present, UOBAM Robo-Invest provides two exclusive portfolio options for Dash customers.
Its Global and Global Impact portfolios invest in both actively-managed funds and passively-managed exchange-traded funds across various industries and geographies.
In particular, the Global Impact portfolio allows investors to invest in companies that incorporates environmental, social and governance (ESG) considerations into their strategies and operations.
Singtel head of Financial and Lifestyle Services at Consumer Singapore Gilbert Chuah said: “This new investment service delivers on our commitment to make it simple, affordable, and convenient for Dash customers to manage their finances and build their wealth.
“We look forward to working with UOBAM as well as other established ecosystem partners to introduce more relevant and related financial and lifestyle products on Dash in the coming months.”
Last year, UOBAM launched a robo-advisory app for retail investors in Singapore.