HSBC Global Private Banking has launched its discretionary digital platform in Asia to make it the “first in the region to offer discretionary portfolio management on a mobile app”.
The feature enables private banking clients to subscribe and reallocate their discretionary portfolio via the private bank’s mobile apps, giving them 24/7 access to portfolio holdings and manager updates.
This discretionary programme, which is now available online, was launched in May 2021. It uses building blocks to construct clients’ portfolios and is exclusively for its clients in Asia, with a minimum investment of $200,000 (£165,390, €192,368).
Discretionary portfolio building blocks offer equity, fixed income and multi-asset portfolios, managed for the private bank by HSBC Asset Management and third-party managers.
Siew Meng Tan, regional head of HSBC Global Private Banking for Asia Pacific, said: “In an increasingly challenging environment, more and more clients in Asia are opting for discretionary mandates to diversify their portfolios, build multiple income streams and take up defensive positions in high-quality companies to withstand market volatility and interest rate hikes.
“The new discretionary digital platform will enable us to serve the immense and fast-growing segment of underserved affluent-to-high net worth investors, giving them access to sophisticated and exclusive DPM portfolio building blocks, especially the next generation clients who are more hands-on in portfolio construction.”
