UOBAM launches gold portfolio mixing bullion, mining stocks

There’s a growing interest from retail investors for gold-linked exposure.

UOB Asset Management Ltd. (UOBAM) has unveiled Gold+, a managed portfolio that splits investments evenly between physical gold and gold-mining stocks, as investors look for low-cost ways to hedge inflation and broaden their holdings.

The portfolio allots 49% each to the SPDR Gold MiniShares Trust (GLDM) and the United Gold & General Fund (UGGF), keeping 2% in cash for liquidity. The structure combines gold’s defensive nature with the potential upside of established miners.

“We’re seeing strong and growing interest from retail investors in Singapore for gold-linked exposure,” Rachel Ong, Chief Marketing Officer at UOBAM, told Singapore Business Review.

She noted that subscriptions to UGGF, a mutual fund managed by UOBAM that invests mainly in gold-related companies and precious metal miners rather than in physical gold itself, are almost three times those recorded in 2024.

“This demand is being driven by sustained central bank buying, gold’s safe-haven appeal, and the need to hedge against inflation,” she said in an emailed reply to questions.

Quarterly rebalancing maintains the target allocation through market swings. GLDM, meanwhile, is an exchange-traded fund (ETF) that gives investors a low-cost way to invest in physical gold without having to buy or store the metal themselves.

Gold+ is available exclusively through the UOBAM Invest app, where clients can start investing from $1 without platform or advisory fees. The move builds on UOBAM’s previous retail offerings such as Cash+ and Megatrends, expanding its direct digital channel.

“The digital platform eliminates traditional barriers such as paperwork, minimum investment thresholds, and advisory fees,” Ong said.

The rollout comes as gold prices hover near record highs amidst persistent inflation, shifting interest-rate expectations, and strong central-bank demand. Global reserves have grown by more than 1,000 tonnes annually since 2022, more than twice the average from 2010 to 2021.

Subscriptions to UOBAM’s United Gold & General Fund have tripled this year compared with 2024, signaling steady appetite for gold-linked assets.

For UOBAM, Gold+ strengthens its position in the retail wealth segment by combining exchange-traded fund efficiency with active fund management. The model offers transparency, liquidity, and cost control through a rules-based structure.

The Gold+ framework could extend to other investment themes, developing portfolios that balance risk and liquidity for broader investor access, Ong said.

The launch reflects a broader shift in Asia’s asset-management industry toward modular, tech-enabled portfolios tailored for digital investors navigating persistent inflation and diverging monetary policies