A Ping An Group offshoot has launched an online platform aimed squarely at attracting wealthy Singaporean clients, as China’s largest companies continue to make headway into Southeast Asian and other international markets using cutting-edge technology.
Source: South China Morning Post
The fintech unit of China’s top insurer is now in business in Singapore.
Its Lu Global wealth management app is seeking crazy rich Asians with money to invest. Its minimum entry of US$1,000 doesn’t sound too steep, but it’s only open to accredited investors in Singapore.
The new service was spun off from PingAn’s Lufax, which is prepping a much-delayed IPO that could value it as high as US$60 billion. Lu Global is aiming to pull in 10,000 Singapore customers in its first year.
Editing by Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
