A Hong Kong fintech has launched a roboadvisor mobile app, which it is calling the second generation of digital advisors. The project has big international names attached to it and a low investment threshold.
Youyu said it launched a mobile investing roboadvisor app in Hong Kong, which can invest in funds with thresholds as low as $120.
Youyu said its roboadvisor differentiates itself from those already on the market by applying a bottom-up approach for fund selection, and the venture has attracted a host of big names.
The first batch of products available on Youyu's roboadvisor include funds from AXA Investment Managers Asia Limited, Franklin Templeton Investments (Asia) Limited, Pimco Asia Limited, and T.Rowe Price Hong Kong Limited.
Scoring Funds
Youyu has developed a scoring mechanism that rates funds against five indicators: short- and long-term performance; abilities of the fund manager; capital flows; and third-party ratings.
Based on this score, Youyu selects several from 343 funds that are easily traded on its roboadvisor.
Aside from the market beta returns the Youyu Robo-Advisor app can generate, the introduction of top tier fund managers allows investors to capture alpha generated by these managers’ active management strategies.
Youyu is led by Byron Wong (pictured at left), a former Goldman Sachs banker in Hong Kong who studied artificial intelligence.
