The non-public banking arm of Southeast Asia’s largest financial institution DBS goals to increase its suite of sustainable investments to greater than half of its belongings below administration by 2023.
DBS Private Bank will even work with its shoppers to undertake environmental, social and governance (ESG) requirements of their investments, it mentioned in a press release on Friday.
The non-public financial institution goals to have sustainable investments account for greater than half of its belongings below administration by 2023, up from 41% presently, it mentioned. The financial institution declined to supply a quantity for the overall belongings it manages.
The non-public banking enterprise is a part of the broader wealth administration unit of DBS, one of many greatest wealth managers in Asia outdoors China.
DBS Wealth’s belongings at end-2020 have been up 7% 12 months on 12 months to S$264 billion. Assets managed by the non-public financial institution at end-February have been up 12% 12 months on 12 months.
Globally, ESG-themed investments are increasing quickly, pushed by rising demand from institutional and retail traders.
DBS Private Bank in 2021 plans to launch greater than 10 merchandise, together with exchange-traded funds, mutual funds and personal fairness investments.
A worldwide surroundings fund set to be launched this month will present its shoppers diversified publicity to areas similar to renewable power.
