Lu International in Singapore plans to target corporate clients in its next expansion phase, announcing Oversea-Chinese Banking Corporation as one of its first corporate clients.
The operator of popular wealth management platform Lu.com on Thursday announced plans to expand its client segment to include corporate clients. Oversea-Chinese Banking Corporation (OCBC Bank) is one of its first corporate clients with access to its investment products, the company said in a media release.
«We have also seen substantial interest from private equity firms keen on exploring new forms of distribution. This success is largely due to the credibility and returns which investors have experienced on the platform. It is also an exciting phase as we continue to expand our product line and open our doors to welcome corporate clients in Asia,» said Kit Wong, chief executive of Lu International.
New Products
The firm is looking to further expand the product line by end of this year to include private equity as part of the asset classes due to rising interest in alternative investing strategies.
Private equity as an asset class has grown in terms of size and the range of businesses in which it invests. According to a recent report by PwC «Rediscovering alternative assets in changing times», investments into private equity is expected to increase annually rising from $5.3 trillion in 2017 to $10.2 trillion in 2025.
Lu International was established in Singapore in 2017 by Shanghai Lujiazui International Financial Asset Exchange (Lufax), which operates China's wealth management platform Lu.com. Lufax is a member of the Ping An Group, the largest integrated financial services company in China.
