UOB Asset Management Ltd (UOBAM) is seeing a surge in online corporate investing, with the number of users in Malaysia, Singapore and Thailand on its digital investment portal for corporate investors, UOBAM Invest, jumping 330 percent over the last 18 months.
Their total assets under management (AUM) on the online portal also surpassed RM3 billion.
About three in five UOBAM Invest users were new customers to UOB Group. Many of the users are small- and medium-sized enterprises (SMEs) that are reaping the benefits of digitalisation in all aspects of their operations.
Wee Ee Cheong, Deputy Chairman and Chief Executive Officer, UOB, said, “Our approach is holistic – providing progressive and sustainable solutions that balance risk and returns for our customers’ benefit. We have been enhancing our digital capabilities across various channels, products and services Group-wide to offer our best-in-class solutions to more customers, including offering them the ease and convenience of self-serve online investing.
Against the backdrop of a low interest rate environment in the country, UOBAM has also seen strong demand from corporate investors for bond funds, including Islamic bond funds, that offer stable returns. As at 30 June 2021, the bond funds, such as the United-i High Quality Sukuk Fund and the United Conservative Bond Fund, had a total AUM of more than RM200 million on UOBAM Invest, a 66 per cent growth this year to date.
In addition to offering the UOBAM Invest digital investment portal for corporate investors, UOBAM also has a mobile robo-advisory app dedicated to individual investors. UOBAM Invest has won multiple awards in recent years in recognition of its smart use of technology.