Asia's wealthy find favour in digital approach for discretionary mandates: UBS

Singapore

UBS's hybrid digital wealth management tool My Way, which its chief executive had likened to the "Netflix of banking", had amassed some US$4.2 billion in assets under management nine months since it launched - of which US$1 billion is in Asia.

These figures, accurate as at the end of June, showed how Asian private clients, who have long preferred to direct their own investments, are warming up to discretionary portfolio management, said Monica Chatterjee, the bank's co-head for global investment management in Asia-Pacific.