Singapore-based UOB Private Bank, headed by Chew Mun Yew, has been recognised as Asia’s top discretionary portfolio management (DPM) provider, a testament to its client-centric approach, consistent performance and strategic innovations since launching its dedicated DPM team in 2016. The award highlights the bank’s ability to navigate market complexities while delivering tailored solutions for clients across the region.
With assets under management (AUM) surpassing S$4 billion ($3 billion) and a team of 15 professionals – including eight portfolio managers – UOB has built a reputation for agility and accountability. Headquartered in Singapore, the team leverages its regional proximity to clients and markets to make swift, informed decisions, a factor that proved critical during periods of volatility. Notably, the bank’s fixed-income portfolios have avoided defaults in both Singapore and US dollar markets since inception, while its equity strategies consistently demonstrated lower drawdowns compared to broader market benchmarks.
The past year marked significant advancements. In 2024, UOB introduced a bespoke derivatives strategy allowing clients to generate yield while awaiting equity entry opportunities – a solution that gained traction amid elevated stock valuations ahead of the US elections. It also expanded access to its strategies, launching retail share classes through partnerships with UOB Asset Management and rolling out its first UCITs fund focused on Asian fixed income, which grew to S$220 million in AUM within months. Concurrently, a five-year technology roadmap was initiated to enhance portfolio management systems and client-facing digital tools.
Performance metrics reinforce the bank’s competitive edge. As of September 2024, its global balanced strategy delivered a 13% year-to-date return, while its global equity and global fixed income strategies posted 20% and 7.1% gains respectively. Over five years, cumulative returns reached 42.5% for global balanced and 83.4% for global equity, outperforming reference indices.
Central to UOB’s success is its emphasis on collaboration. Portfolio managers and mandate specialists work directly with relationship managers to align strategies with client risk profiles
Client retention remains strong, supported by transparent communication, monthly performance updates, and personalised portfolio adjustments.
Central to UOB’s success is its emphasis on collaboration. Portfolio managers and mandate specialists work directly with relationship managers to align strategies with client risk profiles, even addressing overlaps in existing external portfolios to optimise diversification. This tailored approach, combined with rigorous post-investment engagement, has driven annual AUM growth since 2016 without a single client complaint.
The accolade underscores UOB Private Bank’s evolution from a regional player to a leader in discretionary portfolio management – a journey defined by innovation, discipline and an unwavering focus on client outcomes. As markets evolve, the bank’s blend of localised expertise and forward-looking solutions positions it to remain at the forefront of Asia’s wealth management landscape.