Schroders and DBS have announced they are joining forces to launch a multi-asset retirement fund in Singapore.
The fund, announced today in Singapore, is called Schroder Asia More+ and will be primarily invested in Asia-Pacific and particularly Singapore-based assets. It will be managed by Schroders and DBS will be the fund's distributor.
Asia More+ will have an expected payout of 6.88% on its More+ Now option.
With Schroder Asia More+, we aim to address these gaps and concerns [for a longer-term retirement], while also offering a greater peace of mind for investors."
Lim Soon Chong, regional head of investment products and advisory at DBS, said: "The concept of decumulation is still relatively new in Singapore. Besides monetary distributions from government and pension schemes post-retirement, a steady source of recurring income from private savings and investments to replace income from work is of critical importance."
Lim went on: "A typical Singaporean can expect to live around 20 years in retirement. Besides monetary distributions from government and pension schemes post-retirement, a steady source of recurring income from private savings and investments to replace income from work is of critical importance."
Lily Choh, deputy chief executive at Schroders Singapore, said: "With Schroder Asia More+, we aim to address these gaps and concerns [for a longer-term retirement], while also offering a greater peace of mind for investors."
The Asia More+ has an initial offer window until 15 July.
