8I Holdings Limited (ASX: 8IH) announced a strategic investment in AutoWealth Pte Ltd, a licensed regional roboadvisor that automates investing and provides comprehensive investment portfolio rebalancing and management for retail investors.

clive autowealth7.18Clive Tan, Executive Director of 8IH, with Ow Tai Zhi, CEO of AutoWealth. Photo: CompanyThe investment is part of 8IH’s strategy to increase its product offerings and complement WealthPark, the Smart Investing Technology and Wealth Management Platform that 8Bit Global’s Pte Ltd, a subsidiary of 8IH, is developing.

8IH will invest S$1 million in AutoWealth for a strategic minority equity stake. The capital will be used to strengthen its branding and marketing to grow its assets under management.

AutoWealth, a digital financial advisor licensed by Monetary Authority of Singapore and a portfolio company of NUS Enterprise, uses a proprietary algorithm to provide financial advice and investment management online.

It has created an automated process that cuts the processing time and middleman costs while giving customers customised recommendations on the ideal composition of their investment assets, the initial sum to invest and the periodic investment instalments.

Investors start their investing journey by taking a three-minute questionnaire, which feeds into the roboadvisory system.

AutoWealth’s proprietary algorithm analyses their risk profile and recommends customised investment portfolios. All the investors’ investments are held in legal segregated accounts under their names through Saxo Capital Markets, its partner custodian.

This ensures that investors have legal claims on their investments in all circumstances.

AutoWealth was officially launched in August 2017 following a year of intensive beta testing.

“I believe robo advisors will start to play a bigger role in the asset management business in the very near future in Asia as shown in the emerging trends in US and Europe,” said Mr Ken Chee, Executive Chairman of 8IH.

“AutoWealth uses a proprietary investment strategy and auto rebalancing technology to simplify passive investing. I see this as a complementary product for our investors in Value Investing College’s community to maintain a balanced portfolio; and for the passive investors who prefer to maintain a passive portfolio. In addition, this strategic investment will add further depth and breadth to the smart AI investing tool and wealth management platform that we are actively building."

You may also be interested in:

You have no rights to post comments

Counter NameLastChange
AEM Holdings3.320-
Avi-Tech Electronics0.245-0.010
Best World1.700-0.010
Broadway Ind0.0820.001
China Sunsine0.4050.005
Delfi Limited1.140-0.040
Food Empire1.100-0.010
Fortress Minerals0.290-0.015
Geo Energy Res0.280-0.005
GSS Energy0.029-
Hong Leong Finance2.470-0.010
Hongkong Land (USD)3.240-0.030
ISDN Holdings0.335-0.010
IX Biopharma0.042-0.002
Jiutian Chemical0.026-0.002
KSH Holdings0.285-
Leader Env0.0550.003
Medtecs Intl0.1390.002
Nordic Group0.400-0.015
Oxley Holdings0.1010.002
REX International0.1690.002
Sinostar PEC0.135-
Southern Alliance Mining0.675-
Straco Corp.0.4900.015
Sunpower Group0.2400.010
The Trendlines0.0920.008
Totm Technologies0.0370.001
Uni-Asia Group0.9400.040
Wilmar Intl3.620-0.070
Yangzijiang Shipbldg1.470-

We have 358 guests and no members online

rss_2 NextInsight - Latest News