The latest news in investment offerings, financial products and other services relevant to wealth advisors and their clients.

HSBC
HSBC yesterday said it has introduced its Tokenised Deposit Service (TDS) in Singapore, extending the blockchain-based payment capability beyond its initial launch in Hong Kong. 

The service enables 24/7 real-time instant settlement. It was adopted by China’s Ant International, which became the first client to complete real-time Singapore dollar and US dollar digital token payments between its entities’ corporate wallets held with HSBC Singapore. 

In September, HSBC said it successfully completed its first US dollar cross-border digital token transaction for Ant International businesses in Hong Kong and Singapore.

DBS, Cohen & Steers
New York-headquartered Cohen & Steers is teaming up with Singapore’s DBS to provide access to the Cohen & Steers Diversified Real Assets Fund.

The fund is designed to deliver “attractive” total return while maximising real returns during inflationary environments, the US firm said in a statement last week.  The strategy invests across four core real asset categories - global real estate, global natural resources, global listed infrastructure, and commodities.

"It is a privilege to establish a relationship with one of the most respected private banks in the region and support DBS through a new Singapore office,” David Conway, head of international wholesale distribution, said. 

Hou Wey Fook, chief investment officer, DBS Bank, added: "In a polarising world marked by rising volatility and geopolitical uncertainties, alternatives and real assets play an integral role in portfolios."

Besides its NYC headquarters, Cohen & Steers has offices in London, Dublin, Hong Kong, Tokyo and Singapore.