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BANKING & FINANCE
With offices in Malaysia, Thailand and China,
UOBAM has a solid regional presence.
In March 2018, UOBAM launched the award-
winning United SGD Fund for retail and
institutional investors in Brunei seeking for
regular returns. The United SGD Fund invests
in investment grade bonds with different
maturity dates across a three-year timeframe.
This smoothens out the impact of fluctuating
interest rates. The United SGD fund is a
recognised Collective Investment Scheme
by the country’s financial regulator Autoriti
Monetari Brunei Darussalam (AMBD). Retail
investors can approach Baiduri Capital, the
appointed distributor of the fund.
Local Investment Services
Through AMBD, the Brunei government has
been issuing short-term Sukuk Al-Ijarah. Sukuk
are Syariah-compliant financial products
that create returns similar to fixed-income
instruments, like bonds. However, unlike
bonds, Sukuk does not collect interest. This
explains Sukuk’s growing popularity not just in
economies with Islamic Banking, but also in the
global market. As of December 2018, Brunei has
issued over BND12.4 billion worth of short-term
Sukuk Al-Ijarah securities.
In May 2017, the Brunei Darussalam Capital
Market Association (BCMA) was launched.
Their objectives are to support capital growth
and market integrity in Brunei, and to promote
financial and investment literacy. In October
2018, the BCMA Investment Challenge was held
in which participants traded their “funds” over
19 days. A total of 109 teams from nine local
higher learning institutions participated in the
challenge. Teams were judged on three aspects
of trading – the ability to generate positive
absolute returns, ability to outbid competition
in terms of generating higher returns and ability
to diversify.
management. Additionally, State Street
acts as a gateway for international fund
managers interested in Brunei for investment
opportunities.
Apart from investment services, State
Street is also committed to Brunei’s financial
development. In 2016, State Street signed
a Memorandum of Understanding (MoU)
with Universiti Brunei Darussalam (UBD) to
boost financial literacy among local students,
signifying a collaborative partnership in various
programmes such as competitions, talks and
internship opportunities.
State Street’s venture into the Asia-Pacific
region began more than 25 years ago, in line
with the company’s goal of increasing its
non-US revenue. Today, the company has
successfully established itself, with more than
7,000 employees throughout the region.
In February 21, 2019, State Street Corporation
opened their new office at the Pavo Point
building in Bandar. “Moving to this new location
in the heart of the financial district enables us to
accommodate staff in order to meet our needs
locally and regionally,” said Ian Martin, Head
of Asia-Pacific of State Street. “This move is a
further sign of our commitment to servicing our
clients and growing our business in Brunei and
throughout the region.”
UOB Asset Management
UOBAM Brunei – a subsidiary of the UOB
Asset Management Ltd, based in Singapore –
first began its operations nearly 10 years ago.