Singapore’s UOB Asset Management and Singapore Telecommunications (Singtel), the city state’s largest telecommunications company, have teamed up to launch a robo-advisory service exclusively on Dash, Singtel’s five-year-old mobile wallet platform.
The service is called UOBAM Robo-Invest, and it provides Dash users with two portfolio options – global and global impact – the companies say in the statement on December 22.
Both portfolios invest in a combination of actively-managed funds and passively-managed exchange-traded funds across diverse industries and geographies. However, the global impact portfolio invests in companies that integrate environment, social and governance considerations into their strategies and operations.
According to UOB Asset Management Group Chief Marketing Officer Faizal Gaffoor, the collaboration with Singtel represents “a step forward in the way we offer robo-advisory solutions to consumers”.
“By embedding UOBAM Robo-Invest in the mobile wallet, we are providing Dash users with easy access to professional investment expertise and experience that we have built over more than three decades,” he says in the statement.
Dash users can invest from as low as S$1 (US$0.73) at annual advisory rates ranging from 0.6% to 0.8%.
Gilbert Chuah, Singtel’s head of financial and lifestyle services, says the company hopes to “democratise finance by harnessing technology to offer an inclusive suite of high quality services”.
“This new investment service delivers on our commitment to make it simple, affordable and convenient for Dash customers to manage their finances and build their wealth,” he says.
UOB Asset Management had S$38 billion of assets under management as of October 31, 2021.
