UOB Asset Management (UOBAM) has teamed up with T. Rowe Price, a US-based asset manager, to allow retail investors in Singapore to tap into technology fund.
The partnership will enable UOB’s fund arm to invest in T. Rowe Price’s global technology equity strategy through the United Global Technology Fund (UGTF). It will also allow retail investors to invest into T. Rowe Price’s technology portfolio.
Between February 2007 and February 2017, the strategy has seen annualised returns of 15.39% versus the benchmark MSCI All Country World Index Information Technology’s 9.08% over the same period, UOB in a press statement said.
UOBAM CEO Thio Boon Kiat said: “I am pleased to bring on board T. Rowe Price, an accomplished partner with extensive experience in investing in the technology sector.
"Our collaboration brings together the complementary strengths of UOBAM’s in-depth knowledge and expertise of Asian investment markets with T. Rowe Price’s investment expertise in technology equities. This enables our clients to participate in and benefit from the growth of technology companies and technology trends.”
T. Rowe Price head of Asia Pacific global investment services Scott Keller said: “We are delighted to be partnering UOB to provide clients an opportunity to invest in our Global Technology Equity Strategy. Through this, clients will gain access to a truly global portfolio of technology companies that have been selected by our dedicated technology research analysts and experienced investment team.”