UOB Sold Its Funds Unit For S$555 Million. By Dr Wealth • August 11, 2026UOB’s S$555M Sale On August 5, 2026, United Overseas Bank (UOB) agreed to sell its fund management arm, UOB Asset Management (UOBAM), to European asset management giant Allianz Global Investors (AGI) for S$555 million. With this sale, UOB locks in a pre-tax gain of S$330 million against a book value of S$223 million, boosting its Common Equity Tier 1 (CET1) capital ratio by 14 basis points. As part of the transaction, UOB and AGI will enter into a strategic distribution agreement whereby UOB will distribute AGI and UOBAM investment products to its regional base of 8+ million retail and wealth clients. DBS did it before in 2010 UOB’s move mirrors the strategic playbook DBS executed 16 years prior: In December 2010, DBS sold its asset management arm to Nikko Asset Management for S$137 million, shedding...