DBS, southeast Asia’s largest lender, has launched its first qualified domestic institutional investor wealth management product through its China division.

DBS China said that this product was linked to the US Oil Fund and would provide investors with investment opportunities linked to the international oil price performance.

The US Oil Fund is traded on the New York Stock Exchange and is designed to track the movements of light and sweet crude oil.

The product has a minimum investment capital requirement of $20,000 or equivalent renminbi.

DBS China received permission to issue QDII products two years ago, but owing to the global financial crisis, the bank believed it was improper to make overseas investments at that time, it said in a statement.