Wealth management continues to trend upwards in 2023 as more Singapore investors preserve their saving and purchasing capabilities.
SINGAPORE, Dec. 12, 2022 /PRNewswire/ -- Moomoo SG's parent company Futu Holdings Limited (Nasdaq: FUTU) (Futu), a leading tech-driven digital brokerage and wealth management platform, has reported that its AUM under wealth management surpassed HKD30 billion (SGD 5.27 billion) as of 1 December. In Singapore, moomoo's wealth management asset balance grew four-fold sequentially as of Q3 with the strong net asset inflow to wealth management trending amid a challenging and volatile market.
Despite the fact that the Fed could scale back the pace of its interest rate hikes "as soon as December", moomoo SG's investors are equipped for the ongoing fight against inflation moving into 2023. The five-fold growth in money market funds indicates the investors' preference for storing liquidity and parking cash with lower-risk instruments amid an unstable market, with clients increasingly favouring thematic and differentiating solutions such as BlackRock's BGF World Energy Funds and ESG Multi-Asset Fund that are currently ranking among the top three best-selling funds.
Wealth-management for all, rooted in financial literacy
Traditionally, wealth management and investing were reserved for the wealthy but moomoo SG is knocking down barriers to spread its wealth of knowledge to investors of all calibre. Moomoo SG collaborates with fund companies to hold investment strategy webinars and sharing sessions regularly, inviting fund house partners, investment experts and financial educators to share their insights and strategies, enlightening over hundreds of thousands participants. Moomoo SG also hosts Lunch & Learn sessions in Singapore where eager investors can network with industry experts and educators in the investing space to learn about how they can create an iron-clad portfolio to navigate economic headwinds.
Spearheading technological advancements for a seamless investor experience
Technology has accelerated moomoo's ability to offer such unique products to its users and, as a tech-first company, moomoo will constantly upgrade to foresee and cater to the growing needs of its investors. Through the investment super-app, investors can leverage smart tools to make informed investing decisions. For instance, the Dollar Cost Averaging Calculator assists investors to work out returns and easily set up an auto-invest plan while the Fund Portfolio and Newsfeed features provide prompt data and information to investors. This is supplemented by other advanced tech features such as AI Market Monitor, Unusual Options Activity Scanner, AI-Driven personalised content, Star Institutions and AI Monitor, they can monitor their portfolios against unusual market behaviours.
Rising interest in funds as an investment tool
Encouraged by easy access to a digitalised wealth management platform, the accessibility and affordability in funds investment has broadened the investor base for moomoo SG. Hence, the number of fund investors climbed 203% quarter-on-quarter in Singapore as at the end of third quarter.
Mr. Gavin Chia, Managing Director of moomoo SG said: "With inflationary challenges expected to continue as we move into 2023, more Singapore investors are looking to shape their financial future by looking closely into how they can preserve or even grow their wealth with our cash management solution, moomoo Cash Plus. To better meet the diverse and evolving needs of local investors, moomoo SG will continue to use technology and innovation to further diversify its product offerings in a timely manner."
Moomoo SG currently collaborates with 32 fund houses, including BlackRock, BNY Mellon Investment Management, Wellington Management, Fullerton Fund Management and Lion Global Investors, to offer a variety of fund products that span different industries and themes in order to meet the changing needs of investors.
About Moomoo Financial Singapore Pte. Ltd.
Based in Singapore, Moomoo Financial Singapore Pte. Ltd. (moomoo SG), a subsidiary of the Tencent-backed and Nasdaq-listed Futu Holdings Limited (Nasdaq: FUTU), is a next-generation digital brokerage that provides on-the-go trading and wealth management services via its investment super-app, moomoo. Moomoo SG strikes a balance between offering a user-friendly, digital-first interface and advanced tech-driven product features to offer investors an enhanced investing experience.
Moomoo SG's mission is to provide investors with an intuitive and powerful investing platform by using technology to meet the market's unmet needs. Moomoo SG aims to become an influential financial services platform globally, by prioritising users and user experience, driving high innovation across its product upgrade, and enriching products and services offering that meet the evolving needs of investors, companies, and the industry.
Moomoo SG is a capital markets services licence holder regulated by the Monetary Authority of Singapore (Licence No. CMS101000). In June 2022, moomoo SG became the first digital to receive all five memberships from the SGX Group for the securities and derivatives markets.
About Futu Holdings Limited
Futu Holdings Limited ("Futu") (Nasdaq: FUTU) is an advanced fintech company upgrading the investing experience by offering fully digitized financial services in multiple markets. Futu was listed on Nasdaq on March 8, 2019. Futu offers market data, financial news, interactive social features, and investor education on its proprietary one-stop digital platforms Futubull and moomoo. Its subsidiaries provide clients with investing services including trading and clearing services for United States, Hong Kong SAR, China Connect, Singapore, and Australia stocks, margin financing, and wealth management. By creating an ecosystem centered around its users, Futu provides connectivity to users, investors, analysts, media, companies, and institutions. Futu also provides Employee Stock Ownership Plan (ESOP) solutions, IPO distribution, and IR and PR services through its institutional and corporate services brand, becoming the go-to partner of many well-known companies. Futu Trustee provides one-stop wealth management solutions for corporate clients and high-net-worth individuals and families, and revolutionizes service delivery for ESOP Trust Administration, Family Trust, and Family Office through technology.
