The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Trust Bank, abrdn
Singapore-based Trust Bank, which says it has one million customers and is making “good progress” towards profitability, has launched an investment solution in partnership with UK asset manager abrdn.

The new offering is called TrustInvest. Pitched at retail clients, TrustInvest is contained in within the bank’s app, requiring at least S$100 ($74.82) for each fund. Investors can choose from a curated selection of five funds covering a range of goals and risk profiles. Although there are no platform or sales fees, there is a fund management charge. 

The firm said that customers who remain invested until the end of 2025 will receive part of the management fee back.

The tie-up with abrdn puts the bank in partnership with a large player: at the end of 2024, the fund management house managed and administered £511 billion of assets.

Explaining performance, Trust Bank – a relative newcomer founded in 2023 – said its revenue more than doubled compared with 2023, rising to S$97 million. Dwaipayan Sadhu is the lender’s CEO. 
 
Left to right: Trust’s head of invest Rohit Mulani and chief executive Dwaipayan Sadhu, and abrdn Investments’ CEO Asia-Pacific Ian Macdonald and head of wholesale Southeast Asia Natalie Tan.