SINGAPORE (Sept 2): DBS Bank has launched DBS digiPortfolio – a hybrid human-robo investment solution that allows retail investors to tap on investment strategies from the bank’s wealth management team.
According to DBS, the one-stop portfolio solution combines the expertise of DBS’ Wealth Management investment strategists and the efficiency of robo technology, and can be purchased by customers with no prior investment experience.
The digiPortfolio was first launched in March to the bank’s wealth customers and was said to have been well received, motivating customers to start on or resume their investment journey. The bank is now introducing this solution to retail customers as part of its commitment to democratizing access to financial expertise.
See: DBS launches robo-adviser that offers more than just ETFs
A flat management fee of 0.75% is charged in return for the portfolio construction, monitoring and rebalancing services. DBS says there will be no separate costs for foreign exchange or rebalancing.
Investors will be able to choose from two portfolio options when the digiPortfolio is launched on the bank’s online platform.
The Asia portfolio requires a minimum sum of $1,000 and allows investors instant access to SGX-listed exchange-traded funds (ETFs) that provide Singapore, China and India exposure; while the global portfolio – which requires a minimum sum of US$1,000 ($1,389) and provides investors with global exposure to UK-listed ETFs.
Each portfolio is available at varying risk levels -- “Slow n steady”, “Comfy cruisin” and “Fast n furious” -- allowing investors to opt for the risk level that best suits their personal risk tolerance, financial situation and investment goals.
Head of DBS Singapore’s consumer banking group Jeremy Soo says, “With DBS digiPortfolio, we lowered the barriers to personal investing by creating a portfolio accessible to all customers, and that is watched over by our experienced investment specialists and adjusted [quarterly] to remain optimal in changing market conditions.”
Soo adds that the rebalancing of portfolios is initiated when necessary to ensure that they remain resilient to market volatility and provide optimal returns.
The early access sign-up or soft launch, for the DBS digiPortfolio will be open from Sept 2 to Sept 30. The team expects the portfolio to be fully open at the end of 3Q19.
As at 12.44pm, shares in DBS are down 23 cents at $24.30.
