DBS in Singapore has rolled out its digiPortfolio, a hybrid human-robo investment solution that allows retail investors to tap on investment strategies from the bank’s wealth management team at a minimum outlay of $1,000, either in local or US currency.
The one-stop portfolio solution combines the expertise of DBS’ Wealth Management investment strategists with the efficiencies of robo technology. The proposition also makes available a portfolio of SGX-listed ETFs to investors for the first time. The portfolio can be purchased by customers with no prior investment experience.
digiPortfolio gives investors instant access to a collection of four to seven Exchange Traded Funds (ETFs) representing between 200 and 13,000 holdings in a single transaction. A flat annual management fee of 0.75% is charged in return for the portfolio construction, monitoring and rebalancing services.
The use of robo technology allows the bank to drive speed, scale and efficiencies for investors at lowered costs –- there are no further sales charges, platform fees or transaction fees. Investors are not subjected to a lock-in investing period, though they are encouraged to take a long-term approach with their investments.
“DBS digiPortfolio is part of a holistic view we take towards financial planning and personal investing,” said Jeremy Soo, head of Consumer Banking Group (Singapore) at DBS Bank.
“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 to remain optimal in changing market conditions,” said Soo.