DBS Hong Kong launches WMC Northbound scheme
Investors can invest in products from Mainland fund managers using the new scheme.
DBS Hong Kong has launched its Wealth Management Connect (WMC) Northbound business.
The bank reported a "significant increase" of 2.5 times in the customer base of the WMC Southbound in the second half of 2022.
Additionally, the average number southbound individual investors grew 5.7 times versus that of the market average.
DBS Bank (Hong Kong) would provide a professional wealth management team and a wide range of one-stop cross-boundary solutions for investors in the Greater Bay Area.
Customers can invest in products from DBS Bank (China) and other mainland public fund managers with risk ratings classified as "P1" to "P3" through the WMC Northbound scheme.
Ajay Mathur, DBS Bank (Hong Kong) Managing Director and Head of Consumer Banking and Wealth Management, said the new Northbound scheme would provide better international experiences for Hong Kong investors.