SEE:DBS Private Bank raises over $1.6 bil in AUM with Barbell Income Fund and sustainable investment products
The bank says it will also review its clients’ portfolios to improve their ESG ratings through targeted advisory and recommendations. In addition, it will formalise how ESG is assessed through the launch of a portfolio-weighted ESG rating methodology in 2Q2021, the first initiative of its kind in Asia. “Sustainable investments have become increasingly important in value-adding investment portfolios in the long run. However, their pace of growth is being compromised as there is still no clear definition for sustainable investments today. There is also no single established industry benchmark to rate ESG,” says Joseph Poon, group head of DBS Private Bank. “We decided to take the lead in challenging this status quo, and were among the first in Asia to integrate MSCI ESG ratings into our product suite. By taking this step, we are not only availing greater transparency of our offerings, but are also holding ourselves accountable to our pledge to boost our share of sustainable investments,” adds Poon. Shares in DBS closed 13 cents higher or 0.5% up at $28.51 on March 19.