Singapore: DBS Private Bank’s multi-family office platform, DBS Multi Family Office Foundry VCC (DBS MFO), has reached a major milestone, surpassing S$1 billion (approximately $780 million) in assets under management (AUM) just two years after its inception. The bank has set ambitious targets to double this figure to S$2 billion by the end of 2026, reflecting strong demand from ultra-high-net-worth families seeking streamlined wealth management solutions in Singapore.
Launched in 2023, DBS MFO leverages Singapore’s variable capital company (VCC) structure, enabling wealthy families to establish family office-like entities without the traditional complexities of setting up a fully independent office. The platform offers a centralized, professionally managed investment vehicle, allowing families to efficiently oversee their wealth, minimize administrative burdens, and gain access to DBS’s extensive private banking expertise.
Since its launch, DBS MFO has onboarded over 25 families from across Europe, India, Greater China, and Asia, showcasing its appeal to a diverse international clientele. The platform’s rapid adoption is attributed to growing global economic uncertainties, prompting affluent families to seek stable and transparent jurisdictions like Singapore for long-term wealth preservation. DBS has also reported that more than 15 additional prospects are currently in discussions to join the platform.
The platform’s structure allows for minimum investments of S$15 million per sub-fund, with a streamlined onboarding process that can be completed in under a month. This efficiency, coupled with Singapore’s favorable regulatory environment, positions DBS MFO as a compelling choice for ultra-high-net-worth families seeking flexibility, speed, and security in wealth management.
Over the past two years, DBS’s family office business has more than doubled in assets, underlining the rising interest in structured family office solutions. Analysts note that platforms like DBS MFO reflect a broader trend in Asia, where wealthy families are increasingly turning to professional, bank-backed solutions to consolidate investments, manage risk, and preserve wealth across generations.
As economic volatility continues globally, DBS MFO’s growth trajectory underscores the demand for robust, efficient, and transparent wealth management platforms in Singapore, reinforcing the city-state’s position as a leading financial hub in Asia.