DBS Private Bank has announced that its DBS Multi Family Office Foundry VCC (DBS MFO) has achieved a milestone of S$1b in assets under management (AUM) just two years after its inception. This achievement highlights the growing demand for innovative wealth planning solutions in Asia, driven by a historic intergenerational wealth transfer and increased interest in alternative investments.
Since its launch in 2023, the DBS MFO has attracted more than 25 ultra-high net worth families worldwide. These families, initially considering setting up their own Single Family Offices, were drawn to DBS’s cost-effective and administratively efficient solutions. The DBS MFO offers a ‘plug-and-play’ model, where DBS manages the sub-fund setup and regulatory reporting, providing clients with tax incentives and investment flexibility.
Clients are not restricted to predetermined investment philosophies and can customise strategies aligned with their long-term goals. The bank’s open-architecture model allows access to a broad ecosystem of funds, including private and digital assets. “The wealth structuring landscape is evolving rapidly,” said Lee Woon Shiu, Group Head of Wealth Planning at DBS Private Bank. “This milestone reflects our clients’ trust in us to come up with innovative structures.”
DBS plans to double its AUM to S$2b by the end of 2026, capitalising on the growing interest in succession planning and wealth preservation. The bank is also focusing on expanding its wealth structuring solutions in key markets such as Taiwan, Japan, and the UK.
