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Robo-advisor "Chloe" Launches In Japan

2017-02-17 10:00
-The first to offer a global portfolio of TSE-listed ETFs
-Next generation robo-advisor service uses "Goal-based Approach"
-Japan's first robo-advisory app allows entire investment process to be completed via smartphone and tablet devices

TOKYO, Feb. 17, 2017 /PRNewswire/ -- 8 Securities Inc. today announced the launch of Chloe, its new goal-based robo-advisor. Chloe is the first robo-advisor in the world that constructs portfolios with exchange traded funds (ETFs) listed on the Tokyo Stock Exchange (TSE). The portfolios are diversified across 50 countries, 37 industries and 4,324 stocks and bonds. The service is available both on iOS and Android and is the first robo-advisor in Japan available entirely on smartphones and tablets.

How does Chloe work? Customers start by answering a short survey to set goals and a target date to achieve them. Each yen the customer deposits is intelligently invested into a diversified global portfolio of TSE-listed exchange traded funds. Chloe monitors and optimizes the investment on a daily basis to help customers stay on track. Chloe becomes more intelligent over time by using machine learning to better predict customers' goals and how much they need to save.

Based on research by Bank of Japan, Japan currently possesses over 894 trillion yen in cash or deposits, which is an amount greater than the combined output of Germany and the United Kingdom.

8 Securities CEO and Co-founder, Mikaal Abdulla stated as follows:

"Following the launch of the first robo-advisor in Japan, we are thrilled to announce our next generation service, Chloe. Millennials in Japan want simple, mobile and low-cost solutions for their saving and investment needs. They need an easy and affordable entry point to navigate the world of investment. They just don't teach these concepts in school. Chloe will make full use of the latest advances in artificial intelligence and machine learning to provide digital advice and education to help achieve their life goals."

Advantages of Chloe 

Low cost

Customers can start investing in their personal goals with as little as JPY 10,000. The service is free until July 2017 and then 0.88% of the portfolio size thereafter.

Flexible  

Unlike other advisory services and mutual funds, customers are free to deposit or withdraw their money anytime with no fees and no questions. Chloe gives you a flexible solution to save for the future with the power of investing.

Global   

Each customer's personal portfolio is diversified across as many as 50 countries, 37 industries and 4,324 stocks and bonds using TSE-listed exchange traded funds.

Intelligent

Chloe monitors each customer's goals and optimizes the investment portfolio by partnering with world-class advisors. Machine learning improves goal prediction and its values over time.

Campaign to commemorate the launch of the "Chloe" app

A campaign has started to commemorate the launch of "Chloe" in Japan.

  • Free monthly investment advisory fee during the campaign period (Monthly fee returns to usual monthly fee which is an annual 0.88% [excludes tax/per annum] of the total portfolio size.)
  • Free bank transfer fees
  • Campaign runs until July 31, 2017

For regulatory reasons, 8 Securities Inc. cannot accept customers residing outside Japan.

"Chloe" app download

App Store (iOS):

https://itunes.apple.com/jp/app/kuroe/id1197243440

Google Play (Android):

https://play.google.com/store/apps/details?id=com.eigthsecuritiesjp.chloe



* Recommended operating environment: iOS 8.0 or later, Android 4.5 or later

Notes

  1. The standard portfolio for a robo-advisor service is comprised of ETFs listed on the US stock exchange. Deposits and withdrawals by such services will be made in Japanese yen, but the actual investment will be in US dollars (purchase of ETF). Under a strong yen it may be profitable when observing in US dollars, but result in a loss on a yen basis.
  2. In a standard robo-advisor service, a portfolio is constructed by asking customers 6 to 15 questions and assessing risk tolerance.

About 8 Securities Inc.

In November 2012, 8 Securities Inc. in Japan joined Hong Kong's 8 Group, which is a leader in financial technology. It started dealing US stocks in April 2014. In May 2015, it launched Japan's first robo-advisor, "8 Now!". In February 2017, it introduced "Chloe," the industry's first robo-advisor that constructs portfolio with TSE-listed exchange traded funds (ETFs). 8 Securities Inc. will continue to introduce innovative products and services.

https://www.8securities.co.jp

About 8 Securities

Launched in 2012, 8 Securities is a leading fintech company in Asia, with licensed offices in Hong Kong and Tokyo. The company introduced the first robo-advisor and $0 Commission HK and US stock trading service in Asia over the past two years. In 2016, 8 Securities was named Geek Park's "Top 50 Most Valuable Startups in China", and the firm's CEO Mikaal Abdulla has made to Fintech Asia's "Top 38 Fintech Influencers in Asia" list.

8 Securities website

https://www.8securities.com/

Disclosures required in Japan

Registered company name:

8 Securities Inc.

Registration number:

Director-General of the Kanto Local Finance Bureau (Financial instruments firms) No. 193

Member associations:

Japan Securities Dealers Association, Japan Investment Advisers Association

Fees and risk

Any party who wishes to invest in "Chloe" services will be required to pay fees and/or expenses as designated by 8 Securities Inc. Under this service, the invested products may suffer a loss in the invested principal due to fluctuation of price, exchange rate and other factors. When investing, please thoroughly review documents such as the pre-contract documents and others which list information such as the fees and risk.

Source: 8 Securities

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