The two firms are establishing a partnership to address the fast-growing needs of retail investors in Southeast Asia.
Asset manager Schroders Singapore and Lu International will together develop customized multi-asset solutions, and work with local and strategic partners in the region to expand the reach of these solutions, according to a joint announcement on Monday.
These solutions will be rolled out first on Lu's wealth management platform in Singapore, before being further expanded to its partners in Malaysia, Thailand and Indonesia, the announcement said.
Underserved Group
According to Joanna Tang, CEO of Lu International, middle class and digital natives in the region are currently underserved when it comes to a holistic digital investment experience. It said it would use «cutting-edge technology and leading market insights» to develop bespoke wealth solutions to better cater to the needs of these clients.
«We believe that digital wealth management will play a big role in the future of investing, given the growing demands of investors in the region, with their digital-led lifestyles and access to vast amounts of information at their fingertips,» Lily Choh, Country Head, Schroders Singapore, added.
Growing Footprint
Lu International is the international subsidiary of Chinese retail fintech enterprise Lufax Holding, an associate company of Ping An Insurance. It was set up in Singapore in 2017 and has since grown its operations and market reach, which now spans several markets in Asia.
