Mon, Jan 25, 2021 – 5:50 AM
ROBO-ADVISER StashAway has attracted greater than US$1 billion in property underneath administration in three-and-a-half-years.
The Singapore-based fintech stated it’s the first digital wealth platform in South-east Asia and the Center East and North Africa (or MENA) to achieve this milestone.
In an announcement on Monday, the agency stated one of many keys to attracting property has been its capacity to generate “robust returns”, even by the market volatility of the previous few years, which embody two market corrections in 2018 and a market crash final 12 months.
As at end-December 2020, StashAway’s portfolios generated annualised returns starting from 16.5 per cent for its highest-risk portfolio to 4.3 per cent for its lowest-risk one since its inception.
In 2020 alone, the returns ranged from 3.4 per cent to 21.9 per cent for those self same portfolios, which have constantly outperformed their same-risk benchmarks.
StashAway co-founder and chief Michele Ferrario famous that money within the financial institution is the agency’s “greatest competitor”. In Asia, 46 per cent of economic wealth is held in financial institution deposits, in comparison with 14 per cent in North America.
“That is why we have at all times centered not solely on refined funding ideas and a fantastic buyer expertise, but additionally monetary training to assist extra individuals perceive how one can higher handle and develop their wealth. This relationship with our shoppers and the general public has been a key to our quick progress,” he stated.
The agency has a complete paid-up capital of US$36.6 million. These funds have gone in the direction of launching an earnings portfolio, a cash-management portfolio, in addition to new market entries in Malaysia and the MENA area.