OCBC launches robo-investment service
It has an initial investment amount of $3,500.
It then alerts customers via emails so they can approve the re-balancing.
The management fee is at 1.5% annually for assets under management of up to $50,000, and 1% annually for assets under management of more than $50,000.
The launch of OCBC RoboInvest follows a pilot run from March to December 2017.
The first category consisted of five portfolios made up of ETFs and equities listed on the Dow Jones and Nasdaq.
The themes were centred on the technology play, fast-moving-consumer-goods companies and high performing stocks.
The average age of these investors was 35 years old, the bank said.
OCBC RoboInvest was developed with a Singapore fintech start-up, WeInvest.
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