Endowus CEO Gregory Van (left) and chief investment officer Samuel Rhee / Photo credit: Endowus
Singapore-based fintech firm Endowus has officially expanded its digital wealth management services to Hong Kong, its first overseas market.
Investors in Hong Kong are now able to build single- and multi-fund portfolios through Endowus’ offering of 140 funds across various asset classes, according to a statement.
The company says that it’s the first fee-only, non-commission-based digital wealth management platform in Hong Kong. It has partnered with PIMCO, JPMorgan Asset Management, and Allianz Global Investors for the expansion.
This comes after Endowus acquired a majority stake in Hong Kong-based wealth manager Carret Private last year.
Founded in 2017 by Gregory Van and Samuel Rhee, Endowus said it now manages US$4 billion in client assets.
Last month, Tech in Asia first reported that the fintech firm laid off less than 10% of its staff, with management noting that its growth trajectory had slowed down amid the shaky economic landscape.
See also: Mastercard-backed fintech firm DigiAsia on track for US listing at $500m valuation
Note: This article was written with the help of AI. Don’t worry, humans were still involved in producing this story.
Editing by Thu Huong Le and Lorenzo Kyle Subido
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