DBS striving to boost fund penetration in Hong Kong

DBS's Hong Kong business is aiming to double mutual fund penetration among its clients over the next 12 months, said Rocky Cheung, head of investment product and advisory for wealth management in Hong Kong. “Given the increasing complexity of regulations and the need to maintain stability in client AUMs, we have shifted our focus to improving the fund penetration rate, and encouraging discretionary portfolio management [DPM] services,” Cheung told AsianInvestor.  He said the pen…