HSBC’s private bank has announced the launch of its discretionary digital platform in Asia, becoming the first bank in the region to offer discretionary portfolio management (DPM) on a mobile app.
This discretionary programme, which is now available online, was launched in May 2021. It uses building blocks to construct clients’ portfolios and is exclusively for its clients in Asia with a minimum investment of $200,000.
Discretionary portfolio building blocks offer equity, fixed income and multi-asset portfolios, managed by HSBC Asset Management and third-party managers.
This new DPM strategy represents over 10% of HSBC GPB’s DPM assets under management in Asia.
“In an increasingly challenging environment, more and more clients in Asia are opting for discretionary mandates to diversify their portfolios, build multiple income streams and take up defensive positions in high-quality companies to withstand market volatility and interest rate hikes,” said Siew Meng Tan, regional head of HSBC global private banking for Asia Pacific
“The new discretionary digital platform will enable us to serve the immense and fast-growing segment of underserved affluent-to-high net worth investors, giving them access to sophisticated and exclusive DPM portfolio building blocks, especially the next generation clients who are more hands-on in portfolio construction.”