Strategy & Practice Management

DPM drives UOB Private Bank's AUM in 2017

UOB Private Bank records a three-fold increases in discretionary portfolio management AUM in 2017

United Overseas Bank has a three-fold increase in Discretionary Portfolio Management (DPM) assets under management (AUM) for its Private Bank clients in 2017, helping to drive the Bank’s total wealth management AUM to SGD104 billion.

DPM solutions are where advisers initiate and execute trades based on agreed criteria compared with traditional advisory mandates, where the client approves each trade before it is executed. According to figures released by the Asian Private Banker, DPM in Asia grew at an industry rate of nine per cent year on year in 2016.

Ms Ong Yeng Fang, Managing Director and Head of UOB Private Bank, said “The guiding principle we have followed as we have enhanced the capabilities of our Private Bank over the last three years has been to manage our clients’ wealth as if it were one’s own.”

“What has contributed to the growth in our Private Banking business is the increasing confidence our clients have in our professional in-house team as they see the investment results we achieve on their behalf,” Ms Ong said.