The firm's DPM portfolio has reportedly gained average returns from 10 to 30 per cent since its launch in 2016.

Singapore-headquartered United Overseas Bank has reported a three-fold increase in discretionary portfolio management (DPM) assets under management for its private bank clients in 2017, helping to drive the bank’s total wealth management AuM to S$104 billion ($78.4 million).

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

UOB said it offers five discretionary portfolio management strategies to fit various risk profiles: Asian Fixed Income, Global Income Asia Focused, Global Balanced Asia Focused, Global Growth Asia Focused and Global Equity Asia Focused.

“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,” Ong Yeng Fang, managing director and head of UOB Private Bank, said. “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.”

This publication has interviewed UOB about its strategy in the private bank (see here).