UOBAM Invest, the robo-advisory service by UOB Asset Management (UOBAM), has seen a 330% surge in users across Singapore, Malaysia and Thailand over the last 18 months, reflecting a significant increase in online corporate investing.
In a press release dated July 12, UOBAM also disclosed that total assets under management (AUM) on the online portal also surpassed $1 billion.
UOBAM believes the jump in users reflects the increasing demand from corporate investors for digital solutions that offer flexibility and personalisation. UOBAM Invest’s Digital Adviser, which is the first robo-advisory service dedicated to corporate investors in Singapore and Malaysia, features an algorithm-based portfolio planner that enables users to invest in customised portfolios of UOBAM’s funds and global exchange-traded funds (ETFs).
Corporate investors can also choose the Fund Direct service to build and to manage their own portfolio of funds.
See also: UOB Asset Management's China-focused funds attract over $1 bil in AUM in less than two years
About three in five UOBAM Invest users were new customers to UOB Group, with many of the users comprising small and medium-sized enterprises (SMEs).
“We have been enhancing our digital capabilities across various channels, products and services Groupwide to offer our best-in-class solutions to more customers, including offering them the ease and convenience of self-serve online investing,” says Wee Ee Cheong, deputy chairman and CEO of UOB.
“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,” Wee adds.
Thio Boon Kiat, CEO of UOBAM, says: “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.”
“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,” he adds.
Photo: UOB Asset Management
