While the level of assets under management (AUM) for trust and investment management activities did not show significant growth, it is encouraging to note that the AUM of unit investment trust funds (UITFs) rose by a hefty 22 percent year-on-year by the end of the third quarter of 2020.
This development must have been made possible by the online accessibility of UITFs as the number of UITF participants also surged by around 32 percent year-on-year. UITF clients seem to prefer funds that are more liquid and whose products they are more familiar with.