LU International, KASIKORNBANK and Robowealth jointly launch a new feature on FinVest
2021-09-17
SINGAPORE, September 17, 2021 / PRNewswire / – Lu International (Singapore) Financial Asset Exchange Pte. Ltd. (“Lu International”), a subsidiary of from China Lufax Holding (NYSE: LU), a leading technology-based personal financial services platform, with KASIKORNBANK, a leader in digital banking and one of the Thailand largest banks and Robowealth, one of the leading Fintech companies Thailand, today announced the launch of an offshore fund investment feature in the FinVest app. FinVest is the online investment platform built by Lu International, KASIKORNBANK and Robowealth for digital savvy investors. The new offshore fund functionality will allow Thai investors to invest directly in over 1,000 funds from 33 (and more) leading asset management companies around the world. This strategic decision is developed in response to the optimistic market view of global economic recovery, as seen in major developed economies, following the pandemic containment recession. In addition, Thai investors are now more open to international investment, due to growth opportunities, stable positive returns and portfolio diversification. The FinVest team is confident that the offshore fund investing function will meet the needs of investors with a variety of mega-trend aligned offshore funds with low investment barriers and no complex fees.
Joanna tang, CEO of Lu International, commented: “This is another important step for Finvest to offer clients a convenient, efficient and smart way to invest directly in offshore funds. Bringing global investments to FinVest users is part of the team’s mission to meet the rapidly growing investment needs of users in South East Asia and is aligned with Lu International’s goal of making global investment more accessible. By working with KASIKORNBANK and Robowealth to make Finvest the first mobile platform in Thailand To offer offshore funds, Lu reaffirms its commitment to bring the best of its technology and capabilities to serve the Thai market with even more features to be added to the FinVest platform in the future. We believe this partnership will accelerate the pace of digital transformation within the financial institutions sector by Thailand and throughout the Southeast Asian region. ”
Dr. Pipatpong Poshyanonda, Chairman of KBank, mentioned that the trend of foreign investment will continue to grow, as most investors are still concerned about the COVID-19[female[feminine situation in Thailand with less confidence in the Thai economy. As such, they began to seek alternative investments with stable and increasing returns, especially foreign investment funds (FIFs). Based on Morningstar (Thailand), the assets under management invested in the FIF (excluding term funds) has already exceeded 1 trillion baht in April 2021 and the flow of funds accumulated for the first half of 2021 was 190 billion THB.
Mr. Chonladet Kemarattana, Group CEO and co-founder of Robowealth, stated that FinVest now has more than 130,000 registered accounts. The offshore fund investing feature on FinVest has its unique advantages. Investors can invest in foreign master funds with real time currency exchange. The duplication of management fees will not be charged on direct investments in offshore funds. In addition, FinVest will provide neutral and unbiased investment recommendations for onshore and offshore thematic funds carefully selected by investment analysts and Robowealth’s product selection committee.
FinVest is an innovative digital investment platform under the concept “Your Wings, Your Ways” aiming to empower and facilitate any investor with their investment needs. Investors will have access to a pool of investment information, ideas, articles and products, as well as recommended funds each week. The integration of FinVest trading account is purely digital with e-KYC and investors also have the option to link their bank account to FinVest with any of the 4 major Thai banks – Bangkok Bank, Krungthai Bank, Siam Commercial Bank and KASIKORNBANK – which makes it more convenient and provides more choice. To learn more about FinVest, click here.
About Lufax Holding Ltd
Lufax Holding Ltd is a leading technology-based personal financial services platform in China. Lufax Holding Ltd primarily uses its customer-centric product offerings and offline to online channels to provide retail credit facilitation services to small business owners and employees of China as well as tailor-made wealth management solutions for from China rapidly growing middle class. The Company has implemented a unique, small-cap, star-shaped business model, combining specially designed technology applications, extensive data and financial services expertise to effectively deliver the right products to the right customers. For more information, please visit www.lufaxholding.com.
About Lu International
Lu International (Singapore) Financial Asset Exchange Pte. Ltd. (“LUI”) (Co. Reg. No. 201702479G) holds a Capital Markets Services License issued by the Monetary Authority of Singapore under the Securities and Futures Act (Cap. 289 of the Singapore) (“SFAâ€) in respect of its activities within the framework of the activities regulated by the SFA of trading in securities, managing funds and providing custodial services to eligible clients.
Lu Global is an online mobile wealth management and investment platform operated by LUI and based in Singapore. It offers 24/7 online access to a wide range of high quality investments and the ability to invest small amounts easily and with low commitment periods to provide maximum flexibility while benefiting from attractive returns.
LUI is a subsidiary of Lufax Holding (“Lufax”), a leading technology-based personal financial services platform in China. For more information, please visit www.lu-global.com.
SOURCE Lu International (Singapore) Financial Asset Exchange Pte. Ltd.
