SINGAPORE (Feb 21): United Overseas Bank (UOB) says assets under management (AUM) from total wealth management in private banking hit $104 billion last year.

This follows a trebling of AUM from discretionary portfolio management (DPM) for its private bank clients.

In DPM, UOB advisers initiate and execute trades based on an agreed criteria. This differs from traditional advisory mandates which requires client approval for each trade before execution.

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