UTRADE Robo Offers Multi-Currency Investment Option for Global Investors
June, 7 2018 | Prashant Mehta
With the release of UTRADE RoboÂ in Singapore by UOB Kay Hian, Invessence now offers a multi-currency investment option to financial firms globally. Firms will be able to provide a flexibility to their prospective clients to invest in many currencies. This is popular in many regions such as South East Asia where clients invest in either U.S. Dollars (USD), Canadian Dollars (CAD), British Pounds (GBP), Australian Dollars (AUD), Sing Dollars (SGD) and Hong Kong Dollars (HKD) for reasons such as education or building wealth. They will be able to invest in many goal-based robo strategies for their families which will allow them to diversify and manage currency risk.
Financial firms will have a choice to convert the overall portfolio to a local currency yet provide the reporting to their clients in multiple currencies. Multinational firms will be able to offer the Digital Advisory Platform in different countries in local currencies.
UTRADE Robo offered by UOB Kay Hian is a global robo advisor which includes securities from exchanges in Asia, Europe, Australia, and North America. It includes U.S. securities traded on London Exchange for tax efficiency as well as securities traded on New York, Toronto, Australian, Tokyo, and Hong Kong exchanges for diversification and risk management. Strategies also includes emerging market local currency bonds to manage currency risk in Singapore dollars. Each security offered is traded in its own currency and settled and reported to the local currency.