UOB Asset Management (UOBAM) has launched a robo-advisory mobile app that offers retail investors in Singapore personalized, dynamic investment portfolios based on their risk profile, financial goals and investment horizon.
The mobile app is the retail version of the UOBAM Invest online portal, which was launched in 2018 for corporate investors in the city state.
The “UOBAM Invest” mobile app combines the company’s more than 30 years of investment experience with the use of technology to make investing simpler, smarter and safer for its retail customers, chief executive Thio Boon Kiat said in a statement.
“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,” Mr Thio Boon Kiat said.
Ms Rachel Ong, Deputy Chief Marketing Officer and Head of Digital Channels and Sales, UOBAM, said, “Our survey findings show that retail investors still prefer to rely on professional expertise and advisory in their financial planning and investments, even when using a robo-adviser. With the UOBAM Invest mobile app, more retail investors can benefit from the simplicity, affordability and ease of using a robo-adviser and the access to an established bank-backed asset management firm.”
Digital Adviser enables retail investors to invest in personalised investment portfolios generated based on their risk profile and aggregate financial goals. Instead of pre-built static portfolios, Digital Adviser’s portfolios are dynamic. This means that retail investors can fine-tune the investment portfolios by changing their goals, contributions, duration and risk tolerance level. They will also be able to see the success probability of achieving their desired returns.
The personalised and dynamic investment portfolios are made possible by the integration of UOBAM’s proprietary capital market assumptions4 , derived from its extensive investment expertise and experience, into Digital Adviser’s algorithm technology. Digital Adviser also incorporates risk-profiling and goal-setting tools so that the proposed investment portfolios offer the maximum possible returns to suit the needs of retail investors.
