Singaporean bank DBS has joined forces with Schroder Investment Management Singapore (Schroders Singapore) to unveil a new multi-asset fund, which aims to support retired investors in decumulating assets.
Dubbed Schroder Asia More+, the new vehicle will offer exposure to several investment growth themes across the Asian market.
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Among these themes are technology, consumption, logistics as well as financial services. The focus will be on Singapore-based assets.
The fund comes in three share classes, namely accumulation, distribution, and decumulation. These are designed to serve varied investment goals.
The minimum investment threshold is S$1,000, with investors having the option to invest in Singapore, US, or Australian dollars.
Commenting on the new proposition, DBS regional head of investment products and advisory Lim Soon Chong said: “The concept of decumulation is still relatively new in Singapore.
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By GlobalData“Besides monetary distributions from government and pension schemes post-retirement, a steady source of recurring income from private savings and investments to replace income from work is of critical importance.
“A typical Singaporean can expect to live around 20 years in retirement. Besides monetary distributions from government and pension schemes post-retirement, a steady source of recurring income from private savings and investments to replace income from work is of critical importance.”
Schroders has also agreed to buy a majority interest in real estate investment manager Pamfleet.
Financial terms of the deal were not divulged.
Pamfleet CEO and co-founder Andrew Moore said: “The combination of Schroders’ heritage and global footprint with Pamfleet’s local knowledge will create a force in the Asian real estate market.
“As we integrate Schroder Pamfleet into the wider Schroders group capabilities, we believe we will be able to offer a very attractive proposition to our investors.”
Pamfleet has operations in Hong Kong, Shanghai as well as Singapore and manages $1.1bn in assets across four funds.
The management of these funds will remain the same.
