UOB's discretionary portfolio management AUM tripled in 2017

UNITED Overseas Bank Limited (UOB) announced on Wednesday its discretionary portfolio management (DPM) assets under management (AUM) for its private banking clients in 2017 has tripled, bringing the bank's total wealth management AUM to S$104 billion.

Average returns of UOB's DPM portfolio have ranged from 10 to more than 30 per cent since its launch in 2016, UOB said.

UOB says its DPM solutions entail advisers initiating and executing trades based on agreed criteria, compared to traditional advisory mandates where the client approves each trade before it is executed, and portfolio managers can adjust the asset allocation of the mandates according to changing market conditions.