| Ref No: 10/2005
DBSAM wins $1.3 billion investment mandate from Aviva Limited
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Fixed income portfolio for Singapore and global bonds a significant mandate awarded in the region
SINGAPORE, March 23, 2005 - DBS Asset Management (DBSAM), a wholly-owned subsidiary of DBS Bank, has been appointed by Aviva Limited to manage a $1.3 billion fixed income portfolio of Singapore and global bonds.
Greg Seow, Executive Chairman of DBSAM, said: "We are pleased to have been selected by Aviva to manage their bond portfolio. This is a significant mandate awarded to a fund manager in the region. Its also an opportunity to leverage our investment expertise to enhance Avivas insurance products.
This mandate will raise the total amount of assets under management by DBSAM to $12.6 billion."
Keith Perkins, CEO Aviva Limited said: "We are very pleased to partner DBS Asset Management, a strong and well known brand. This is an excellent match where DBSAM's strength in fund management will enhance our capability in designing innovative financial solutions for our customers."
In the recent Edge-Lipper Singapore Unit Trust Fund Awards, the Standard and Poor's Singapore Fund Awards, the Edge-Lipper Malaysia Unit Trust Fund Awards, and Asia Asset Management Fund Awards, DBSAM won a total of 15 accolades, making it one of the top performing fund managers in Singapore. Its $900 m fixed income fund, Shenton Income Fund, won the 2004 Best Global Bond award from Lipper and the Best Global Fixed Income award from Standard and Poor's over the respective 1, 3 and 5 year categories.
About DBS AM
DBS Asset Management (DBSAM) is a significant investment management organisation in Singapore and South East Asia, managing $12.6 billion in assets for retail and private investors as well as institutional clients. DBSAM has 20 years experience in investment management, and more than half of its investment team has over 10 years of experience individually. An award-winning fund manager, DBSAM offers a full range of investment management solutions covering the entire risk spectrum of asset classes, with core competencies in Asian equities and global fixed income. It also provides a comprehensive range of global investment solutions through strategic alliances with leading fund managers around the world. More information on DBSAM can be found on www.dbsam.com.
About DBS
Headquartered in Singapore, DBS is one of the largest financial services groups in Asia. The largest bank in Singapore and the fifth largest banking group in Hong Kong as measured by assets, DBS has dominant positions in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund raising. Beyond the anchor markets of Singapore and Hong Kong, DBS serves corporate, institutional and retail customers through its operations in Thailand, Malaysia, Indonesia, India and The Philippines. In China, the bank has branches and representative offices in Shanghai, Beijing, Guangzhou, Shenzhen, Fuzhou, Tianjin and Dongguan. The Bank's credit ratings are among the highest in the Asia-Pacific region. More information about DBS Group Holdings and DBS Bank can be obtained from our website www.dbs.com.
About Aviva
In Singapore, Aviva Ltd is the leading insurer in bancassurance (regular savings), third party financial advisory and Employee Benefits and Heathcare markets. Aviva is the world 's 5th largest insurance group, the biggest in the UK and a leading provider of life, health and pensions products to market across Europe. Its main activities are long-term savings, fund management and general insurance, with annual premium income of $90 billion and around $744 billion of assets under management. The group draws on the talents of 51,000 employees in more than 20 countries and serving over 30 million customers.
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