Dutch bank ABN AMRO is expanding its coverage of the HNW market with a new Asia-focused portfolio management service.

ABN AMRO Private Banking, the Netherlands-based bank and one of the oldest banks in Singapore, is expanding its coverage of the high net worth market with the launch of a new Asia-focused portfolio management service. 

The new Asian discretionary portfolio management service targets HNW individuals who are now increasingly turning to specialised discretionary mandates for their investments. The bank's global DPM business manages some $25 billion. The launch is expected to attract more funds from existing and potential clients from its two geographic focuses, Asia and Europe. 

ABN AMRO has already set up a dedicated Asian portfolio management team in Hong Kong, led by Jacqueline Koo, to further build on the bank's DPM offering in the region. 

"Our Asian DPM offering will adopt a total return approach through an actively  managed diversified portfolio. We believe this approach will appeal to HNWI clients seeking returns and customised Asia-focused portfolio management solutions," said Koo in a press release.

The Asian DPM team will offer four mandates: the Asia fixed income mandate, investing mostly on sovereign and corporate bonds with some high-yield bond exposure, the Asia equity mandate, investing in equities in the Far East region, the Asia Balanced Mandate, a combination of Asia fixed income and Asia equity strategies, and Customised mandates, which will be altered according to the needs of HNW individuals.

Concurrent with the launch is the appointment of Stephen Evans as global head of fixed income research, based in Singapore. Evans will be responsible for global fixed income analyses and oversee the bank's FI research teams in Singapore, Hong Kong and Amsterdam.

ABN AMRO has been actively growing its senior management and client service teams in private banking over the past year, including the hire of Hans-Peter Borgh as chief commercial officer for Asia and Middle East and Daniel Teo as chief operating officer for Asia and Middle East. 

To-date, the bank has some 6.8 million clients across 28 countries and territories.