Singapore Telecommunications (Singtel) and UOB Asset Management plan to launch what they say will be a customised robo adviser for retail investors via Dash, the former’s mobile wallet, in the first half of 2021.
Dash users will be able to invest in a portfolio of exchange-traded funds (ETFs), managed funds and other asset classes, managed by UOB.
“The investment portfolios offered through the robo adviser will be highly personalised based on the customers’ risk profile, investment horizon and financial goals,” UOB says in a statement on December 15. It did not provide figures on the number of Dash users.
The new robo adviser will join a field that has become more crowded in the three years since the first of them, StashAway, made its debut in 2017.