DBS

DBS is in talks to divest DBS Asset Mgmt to Nikko Asset Mgmt in return for a minority stake in the latter, while at the same time exploring possible strategic partnerships with other parties. Due to the lack of scale, fund mgmt fees contribute a meagre 0.3% to DBS total income in 1H10 (UOB: 2.3%, OCBC: , hence the divestment will have negligible impact on the banks’ bottomline. As a comparison, fund mgmt activities account for 2.3% of UOB & 1.5% of OCBC total income for 1H110.