Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Sunday, January 05 2020 - 15:00
UOB investment arms sign up to the United Nations-supported Principles for Responsible Investment
SINGAPORE, Jan. 5, 2020 /PRNewswire-AsiaNet/--

UOB Asset Management, UOB Venture Management and UOB Global Capital affirm 
their commitment to pursue responsible investments

United Overseas Bank Limited (UOB) today announced that its investment 
management subsidiaries, namely UOB Asset Management Ltd (UOBAM), UOB Venture 
Management Private Limited (UOBVM) and UOB Global Capital LLC (UOBGC) [1], are 
now signatories of the United Nations (UN)-supported Principles for Responsible 
Investment (PRI)[2]. The move is testament to UOB's commitment to responsible 
investing, integrating environmental, social and governance (ESG) 
considerations into its investment policies, processes and practices and its 
objective to develop sustainable investment solutions for clients.

Logo -

The UN-supported PRI is an international network of investors working together 
to put the six Principles for Responsible Investment[3] into practice. By 
upholding the Principles, UOB will: 

1. Incorporate ESG issues into its investment analysis and decision-making 
2. Be active owners and incorporate ESG considerations into its ownership 
policies and practices; 
3. Seek appropriate disclosure on ESG issues by the entities in which it 
4. Promote the acceptance and implementation of the Principles within the 
investment industry; 
5. Work to enhance its effectiveness in implementing the Principles; and 
6. Report on the activities and progress of its investment firms towards 
implementing the Principles.

Mr Eric Lim, Head of UOB Group Finance and the Chairperson of the Bank's ESG 
Committee, said, "Sustaining growth responsibly is a key pillar of UOB's 
sustainability strategy. As such, we consider and manage the ESG risks, 
challenges, impact and opportunities in all that we do, including our investing 
activities. With our investment management subsidiaries adopting and 
implementing the UN-supported PRI, we are underscoring the growing importance 
of responsible investments and our commitment to advocating for more 
sustainable financial industry practices."

As at end September 2019, there were more than 2,600 PRI signatories globally, 
US$89 trillion of assets under management. In Asia, the number of signatories 
increased 23 per cent in the 12 months prior, with a total of 26 signatories in 
Singapore[4]. UOB is the first Singapore bank to have its investment companies 
sign up to the PRI.

MS Fiona Reynolds, CEO of PRI, said, "We are very pleased to welcome United 
Overseas Bank Limited's investment management subsidiaries as PRI signatories. 
The move highlights their commitment to integrate ESG factors into the 
subsidiaries' investment strategies and practices."

UOBAM is one of first regional asset management firms[5] in Singapore to join 
the PRI 

Since 2017, UOBAM has been progressively incorporating ESG factors in its 
investment research and securities evaluation and approval processes and is 
expected to complete the implementation for all asset classes in 2020.

Mr Thio Boon Kiat, Group CEO of UOBAM, said, "Sustainable investing goes hand 
in hand with our fiduciary duties to investors. As we invest for the future, it 
is necessary to address the social and environmental issues facing the world 
today. UOBAM is committed to providing responsible investment solutions for 
investors across Asia and we use a structured risk management approach to 
creating sustainable, long-term returns for them. We will continue to enhance 
our ESG evaluation process by tapping fundamental analysis and technology, such 
as the use of artificial intelligence, and engage our portfolio companies to 
help improve their ESG practices. By investing in training our people on 
relevant regulatory, industry and product trends and developments, we can also 
offer more ESG-focused funds that will align to the UN Sustainable Development 

UOBVM signs up to two globally-recognised sustainable investment standards 

As UOB's private equity fund management arm, UOBVM has been actively pursuing 
responsible and impact investments over many years. In 2004, UOBVM started to 
integrate ESG considerations into its investment process through the ASEAN 
China Investment Fund series, which focuses on private, growth companies in 
Southeast Asia and China. In 2015, UOBVM launched its first Asia Impact 
Investment Fund to invest in companies in Southeast Asia and China that aimed 
to improve the lives of low-income communities in commercially-sustainable 
ways. As a result of the efforts by the fund's investee companies, more than 10 
million low-income individuals have benefitted from higher income, financial 
inclusion or better access to affordable quality products and services. The 
second fund of the Asia Impact Investment Fund series will be launched this 
month to institutional and high-net-worth investors.

Mr Seah Kian Wee, CEO of UOB Venture Management, said, "In September 2019, 
UOBVM became the first Singapore signatory to the International Finance 
Corporation's (IFC) Operating Principles for Impact Management[7], which aims 
to provide clear standards for managing and measuring impact investments. By 
also becoming a signatory to the UN-supported PRI, we are reaffirming our 
commitment to doing good and to doing well to achieve meaningful social impact 
and financial returns."

UOBGC affirms commitment to help contribute to sustainable development 

Founded in 1998, UOBGC has been tapping UOB's regional expertise in Asia and 
monitoring economic and market trends closely to offer investment solutions 
that are suited to the various needs of different types of institutional 
investors globally. These solutions span various asset classes, from listed 
equities and fixed income to private equity and real estate.

Mr Howard Berkenfeld, Principal at UOBGC, said, "At UOBGC, we recognise our 
integral role in the virtuous investment cycle to help bring about economic, 
environmental and social development. Signing up to the PRI demonstrates our 
focus on working with our strategic partners within and outside the UOB Group 
to create and to provide responsible and sustainable investment solutions that 
can contribute to the long-term progress of local economies and communities."

About United Overseas Bank

United Overseas Bank Limited (UOB) is a leading bank in Asia with a global 
network of more than 500 offices in 19 countries and territories in Asia 
Pacific, Europe and North America. Since its incorporation in 1935, UOB has 
grown organically and through a series of strategic acquisitions. UOB is rated 
among the world's top banks: Aa1 by Moody's and AA- by both Standard & Poor's 
and Fitch Ratings. In Asia, UOB operates through its head office in Singapore 
and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, 
as well as branches and representative offices across the region. 

Over more than eight decades, generations of UOB employees have carried through 
the entrepreneurial spirit, the focus on long-term value creation and an 
unwavering commitment to do what is right for our customers and our colleagues.

We believe in being a responsible financial services provider and we are 
committed to making a difference in the lives of our stakeholders and in the 
communities in which we operate. Just as we are dedicated to helping our 
customers manage their finances wisely and to grow their businesses, UOB is 
steadfast in our support of social development, particularly in the areas of 
art, children and education.

About UOB Asset Management

UOB Asset Management Ltd (UOBAM) is a wholly-owned subsidiary of United 
Overseas Bank Limited. Established in 1986, UOBAM has been managing collective 
investment schemes and discretionary funds in Singapore for more than 30 years. 
We currently manage 54 unit trusts in Singapore and are one of the largest unit 
trust managers in terms of assets under management. As at 30 November 2019, 
UOBAM and our subsidiaries manage about S$36.2 billion (US$26.4 billion) in 
clients' assets[8]. 

UOBAM has an extensive presence in Asia with regional business and investment 
offices in Brunei, Indonesia, Japan, Malaysia, Singapore, Taiwan and Thailand. 
Our network includes UOB Alternative Investment Management Pte. Ltd and UOB 
Islamic Asset Management Sdn Bhd in Malaysia. We have two joint ventures: 
Ping-An Fund Management Company Limited (China) and UOB- SM DS Asset Management 
Pte Ltd (Singapore). In addition, we forged strategic alliances with UTI 
International (India) and Wellington Management Singapore. 

About UOB Venture Management

UOB Venture Management Private Limited (UOBVM) is a wholly-owned subsidiary of 
United Overseas Bank Limited. Since 1992, UOBVM has provided financing to more 
than 100 privately-held companies through direct equity investment, mainly in 
Southeast Asia and Greater China. UOBVM advocates responsible investing through 
making impact investments and integrating ESG considerations into its 
investment process. As at 30 November 2019, UOBVM has more than S$1.8 billion 
in committed capital[9].

About UOB Global Capital

UOB Global Capital LLC, a global asset management subsidiary of United Overseas 
Bank Limited, is an originator and distributor of private equity, hedge and 
real estate products. Founded in 1998, UOB Global Capital has US$2.9 billion in 
assets under management[10] as at 30 November 2019. It operates from offices in 
New York and Paris, with representation at UOB's headquarters in Singapore. In 
this way, the firm can conduct its activities and meet investors' needs across 
the Americas, Europe, the Middle East and Asia. UOB Global Capital is backed by 
the resources from UOB, which has acted as co-investor and provided seed 
capital for a number of its investment funds and products.

[1] UOBAM, UOBVM and UOBGC are principally third-party fund management 
[2] Please refer to for more information 
on the PRI.
[3] Please refer to 
for details on the six Principles.
[4] From end-September 2018 to end-September 2019. Source: PRI Update, Q4 2019, 
[5] UOBAM is 100 per cent owned by UOB, with the shareholdings held in 
[6] For more information on the UN Sustainable Development Goals, please refer 
[7] Please refer to for the list of 
the signatories.
[8], [9], [10] The assets under management/committed capital reported by UOBAM, 
UOBVM and UOBGC may include amounts that are managed concurrently by more than 
one entity.

SOURCE:  United Overseas Bank