LU International, KASIKORNBANK and Robowealth jointly debut a new feature on FinVest
SINGAPORE,Sept. 17,2021 -- Lu International (Singapore) Financial Asset Exchange Pte. Ltd. ("Lu International"),a subsidiary of China's leading technology-empowered personal financial services platform Lufax Holding(NYSE: LU),together with KASIKORNBANK,leader in digital banking and one of Thailand's largest banks,and Robowealth,one of the leading Fintech companies in Thailand,announced today the launch of an offshore fund investment feature in the FinVest App. FinVest isthe online investment platform built by Lu International,KASIKORNBANK and Robowealth for digitally savvy investors. The newly launched offshore fund feature,willenableThai investors to invest directly in more than 1,000 funds from 33 (and more) leading asset management companies around the world at their fingertips. This strategic move is developed in response to themarket's optimistic view of the global economic recovery,as seen in major developed economies,following the pandemic lockdown recession. Moreover,Thai investors today are more open to international investments as led by growth opportunities,stable positive returns,and portfolio diversification. FinVest team is confident that theoffshore fund investment feature will respond to the need of investors with a variety of offshore fundsaligned to mega-trends withlow investment barriers,and no complex fees.
Joanna Tang,CEO of Lu International,commented,"It is another milestone for Finvest to offer clients aconvenient,efficient,intelligent way to invest in offshore fund directly. Bringing global investments to FinVest users is part of the team's mission to cater to the fast growing investment needs of users in Southeast Asia and is aligned with Lu International's goal of making global investments more accessible. By working together with KASIKORNBANKand 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 the service of 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 institution industry in Thailand and across the Southeast Asian region."
Dr. Pipatpong Poshyanonda,KBank President,mentioned that the foreign investment trend will continue to grow,as most investors are still concerned about the COVID-19 situation in Thailandwith less confidence on the Thai economy. As such theyhave started to look for alternative investments with stable and growing returns,especially the foreign investment funds (FIF). Based on Morningstar (Thailand),the outstanding AUM invested in FIF (excluding term fund) already surpassed 1 trillion baht in April 2021 and the accumulated fund flow for 1st half of 2021 was 190 billion THB.
Mr.Chonladet Kemarattana,Group CEO and co-founder of Robowealth,affirmed that FinVest today has over 130,000registered accounts. The offshore fund investment feature on FinVest has its unique benefits. Investors can invest in foreign master funds with real-time currency exchange.Duplication of management fees will not be charged on direct offshore fund investment. In addition,FinVest will provide neutral,non-biased investment recommendationsof both onshore and offshore thematic funds being cautiously selected by Robowealth's investment analystsand product screening committee.
FinVest is an innovativedigital investment platform under the concept"Your Wings,Your Ways" aiming to empower and facilitate any investorwith their investment needs.Investors will have access to a pool ofinvestment information,insights,articles,and products as well as weekly recommended funds. Onboarding FinVest trading account is purely digital with e-KYC and investors also have options to bind their bank account with FinVest from any of the 4 leading Thai banks – Bangkok Bank,Krungthai Bank,Siam Commercial Bank and KASIKORNBANK– making it more convenient and providing more choices. To learn more about FinVest,click here.
About Lufax Holding Ltd
Lufax Holding Ltd is a leading technology-empowered personal financial services platform in China. Lufax Holding Ltd primarily utilizes its customer-centric product offerings and offline-to-online channels to provide retail credit facilitation services to small business owners and salaried workers in China as well as tailor-made wealth management solutions to China's rapidly growing middle class. The Company has implemented a unique,capital-light,hub-and-spoke business model combining purpose-built technology applications,extensive data,and financial services expertise to effectively facilitate 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 Singapore) ("SFA") in respect of its business in the SFA regulated activities of dealing in securities,fund management and providing custodial services for securities,to eligible customers.
Lu Global is an online mobile wealth management and investment platform operated by LUI and headquartered in Singapore. It offers 24/7 online access to a wide range of high-quality investments and the opportunity to invest in small amounts easily and with low commitment periods to provide maximum flexibility while benefitting from attractive returns.
LUI is a subsidiary of Lufax Holding ("Lufax"),a leading technology-empowered personal financial services platform in China. For more information,please visit www.lu-global.com.
