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UOB Asset Management, part of Singapore’s United Overseas Bank, has launched UOBAM Invest, a robo-advisory mobile app pitched at retail investors in Singapore.

The app is the retail version of the UOBAM Invest online portal, which was first launched in 2018 for corporate investors in Singapore.

Describing its launch, UOBAM cited a survey it had carried out showing that retail clients like robo-advisors because of their simplicity and ease of use, but they were worried that such digital platforms might come with security risks, or not endure.

“UOBAM is the first regional asset management firm to offer a robo-advisor with personalised portfolios for retail investors. We have an established track record in managing risks actively while optimising returns. Given the current market volatility from the impact of the COVID-19 pandemic, we want to bring the benefits of our risk-based approach - one that is trusted by institutional investors - to more retail investors through UOBAM Invest,” Thio Boon Kiat, chief executive of UOBAM, said.