The Singapore-based digital advisor continues its active expansion, following expansions to Malaysia and the United Arab Emirates.
Stashaway is making its investment platform, which provides intelligent asset allocation with global ETFs, available to Hong Kong residents after receiving licenses from the Securities and Futures Commission (SFC), it announced on Wednesday.
Leading its expansion in Hong Kong is Stephanie Leung, who joined the company almost a year ago. Leung previously spent more than 17 years managing multi-asset portfolios globally for Goldman Sachs as well as for institutional investors and family offices
Market Opportunity
«You'd be surprised to hear that wealth management in Hong Kong has largely been limited to traditional providers, who often operate on, and are incentivised by high commission-based fees and high minimum investment amounts,» Leung said in the statement.
Stashaway offers 12 globally diversified growth-oriented investment portfolios targeting different levels of risk, with management fees of between 0.2–0.8 percent, no minimum balance and withdrawal fees, and unlimited withdrawals, on its platform.
Rapid Growth
Stashaway was founded in Singapore in 2016. As of January 2021, the company managed more than $1 billion in assets.
The platform recently partnered funds network Calastone to automate investment funds processing. It has raised $36.4 million so far across four funding rounds.
