UOB Asset Management (UOBAM) is reporting a surge in online corporate investing. The number of users on its digital investment portal for corporate investors, UOBAM Invest, jumped 330% over the last 18 months for those in Singapore, Malaysia, and Thailand.
In addition, their total assets under management (AuM) on the online portal surpassed S$1bn ($740m).
UOB Asset Management stated that rising trends reflects the increasing demand from corporate investors for sharper digital solutions. This includes the flexibility to make real-time changes around the clock.
UOBAM Invest’s Digital Adviser features an algorithm-based portfolio planner that enables users to invest in customised portfolios of UOBAM’s funds and global exchange-traded funds (ETFs).
The solution appears to be a good gateway as about three in five UOBAM Invest users were new customers to UOB Group.
Furthermore, the number of transactions made on the UOB online portal in 2021 to date is more than 60% of the total in the whole of 2020.
Wee Ee Cheong, deputy chairman and chief executive officer, UOB, said: “Our approach is holistic – providing progressive and sustainable solutions that balance risk and returns for our customers’ benefit. We have been enhancing our digital capabilities across various channels, products and services Group-wide to offer our best-in-class solutions to more customers, including offering them the ease and convenience of self-serve online investing. UOBAM’s innovation and deep asset management expertise built up over more than three decades enriches the digital connectivity and suite of investment solutions we offer to our customers to help them achieve their short- and long-term financial goals.”
Thio Boon Kiat, chief executive of UOBAM, added: “Technology has enabled us to innovate our investment management services and to offer our Asian-focused experience and expertise to more corporate investors through the UOBAM Invest online portal. Backed by our strong understanding of investors across the region, we designed the digital portal to help corporate investors manage their discretionary investments simply, smartly and securely. The growth in users and AuM is testament to our commitment to meet investors’ needs and we plan to launch UOBAM Invest in more markets progressively.”