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UOB Asset Management launches mobile robo-adviser

By Edil Corneille

July 27, 2020

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UOB, UOB Asset Management, UOBAM, United Overseas Bank, SingaporeUOB Asset Management (UOBAM) announced today the launch of UOBAM Invest, a robo-advisory mobile app that offers retail investors in Singapore personalised investment portfolios based on their risk profile, aggregate financial goals, and investment horizons. The mobile app is the retail version of the UOBAM Invest online portal, which was first launched in 2018 for corporate investors in Singapore.

UOBAM’s technology partner on UOBAM Invest is FNZ Group, a global financial technology company that is backed by Temasek in Singapore.

Thio Boon Kiat, CEO, UOBAM apprised, “UOBAM is the first regional asset management firm to offer a robo-adviser with personalised portfolios for retail investors. We have an established track record in managing risks actively while optimising returns. Given the current market volatility from the impact of the COVID-19 pandemic, we want to bring the benefits of our risk-based approach – one that is trusted by institutional investors – to more retail investors through UOBAM Invest. This is so that they can also attain their financial goals with greater certainty.”

The application’s key service is the Digital Adviser, a portfolio planner that enables retail investors to invest in personalised investment portfolios generated based on their risk profile and aggregate financial goals. Retail investors can fine-tune the investment portfolios by changing their goals, contributions, duration, and risk tolerance level.

The investment portfolios are made possible by the integration of UOBAM’s proprietary capital market assumptions, derived from its extensive investment expertise and experience, into Digital Adviser’s algorithm technology.

UOBAM Invest has integrated MyInfo into the account opening process to offer retail investors a hasslefree way to start using the service. Alternatively, retail investors can submit the required identification documents directly though the mobile app. To simplify the investment process further, UOBAM Invest also enables retail investors to use PayNow to transfer funds into their Digital Adviser account.

Tim Neville, CEO – APAC, FNZ said, “We are delighted to have supported UOB Asset Management in the development of its robo-advisory mobile app for retail investors. This app leverages FNZ’s global robo-advisory solutions that provide tailor-made portfolios for each individual investor, incorporating their attitude to risk and various life goals over time. The investment portfolio is then automatically monitored on an ongoing basis, ensuring portfolios can be optimised to people’s needs. This is not just digitising the original human advice process, it aims to provide a better investment outcome for the end investor through technology. By combining UOBAM’s investment expertise with FNZ’s market leading technology, investing is now simpler, smarter and more personalised than ever.”

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