Online corporate investing surges 330% in last 18 monthsLucia_DeGuzman Tue, 07/13/2021 – 2:11 pm
Total assets under management of UOB’s online portal breached the $1b mark.
UOB Asset Management (UOBAM) reported a 330% surge in online corporate investing from its users in Singapore, Malaysia, and Thailand on UOBAM Invest, its online portal for corporate investors, in the last 18 months.
This brought total assets under management on the portal to breach $1b.
In a statement, UOBAM said this reflects increased demand from corporate investors for sharper digital solutions that offer 23-hour access and flexibility to make real-time changes.
About three in five UOBAM Invest users were new customers to UOB Group, a majority of which are from small- and medium-sized enterprises that have recently digitalised their operations.
UOBAM added that the demand for online investing continues to rise due to the restrictions on face-to-face interactions during the COVID-19 pandemic. Transactions made on the UOBAM Invest portal year-to-date is 60% more than the same period last year.