StashAway

StashAway is an online investment management company headquartered in Singapore. The company was founded in Singapore in 2016 and was the first robo-advisor to obtain a full capital-markets services license (CMS) from the Monetary Authority of Singapore[1][2], as well as the first digital wealth manager to obtain a digital investment management for fund management from the Securities Commission in Malaysia.[3] It uses economic-regime based asset allocation techniques to reduce risk for retail investors.[4]

StashAway
Private
IndustryPersonal Finance, Exchange Traded Funds, Finance
Founded2016
FounderMichele Ferrario (CEO)
Freddy Lim (CIO)
Nino Ulsamer (CTO)
Headquarters
Singapore
Websitewww.stashaway.com

History

StashAway was founded by former Zalora Group's CEO, Michele Ferrario, former MD and Global Head of Derivatives Strategy at Nomura, Freddy Lim, and Nino Ulsamer in 2016.[5][6][7]

In 2017, it was announced that StashAway received a capital-markets license from the Monetary Authority of Singapore.[8][9] StashAway also announced that Sim Hwee Hoon, former chief executive of Morgan Stanley in Singapore, would be joining its advisory committee.[10][11][12]

In 2018, StashAway was named the most mature retail robo-advisor in Singapore.[13]

In October 2018, it announced that it was the first player to obtain a Digital Investment Management License for fund management from the Securities Commission in Malaysia and launched its services to Malaysians in November 2018.[14][15]

As of 2018, StashAway is the only digital wealth manager with a zero-minimum balance in Singapore.[16][17] It claims to be more 'cost-efficient' than other traditional investment services.[18]

Finances

The company has received funding from Eight Roads Ventures[19], the Venture Capital arm of Fidelity, as well as several prominent family offices across Asia, raising US$20.4 million as of 2019.[20]

Products

In addition to its core globally-diversified portfolios, StashAway started offering further financial products.

In September 2019, it announced the launch of an SGX-traded income-generating portfolio that aims to provide investors with an income of 3.75% and capital appreciation of 4.4% annually.[21] The portfolio was listed among the top 10 new funds in Q3 2019 by Citywire Asia.[22]

In November 2019, StashAway launched a cash management portfolio called StashAway Simple that aims to provide customers with a projected annual return of 1.9%.[23]

See also

References
  1. Cua, Genevieve. "MAS proposes moves to support growth of robo advisory firms". The Business Times. Retrieved 2018-08-30.
  2. Thomas, Sujin (2018-03-23). "Robo-adviser firm StashAway secures $5.3m Series A funding – and it has plans to expand overseas". Business Insider. Retrieved 2018-08-30.
  3. "StashAway launches robo-advisory services in Malaysia". The Edge Markets. 2018-11-02. Retrieved 2019-12-11.
  4. Haoxiang, Cai. "The robo revolution". The Business Times. Retrieved 2018-08-30.
  5. hermes (2018-07-29). "Investing is a must-and easier than you think". The Straits Times. Retrieved 2018-08-30.
  6. "Ex-Zalora CEO's new fintech startup secures $2.2m funding". www.techinasia.com. Retrieved 2018-08-30.
  7. Finextra (2018-03-22). "Singaporean robo-advisor StashAway secures USD $5.3 million in Series A Funding". Finextra Research. Retrieved 2018-08-30.
  8. "Singapore eyes regulatory changes to help growth of robo-advisors for investors". Nikkei Asian Review. Retrieved 2018-08-30.
  9. "Singapore fintech startup StashAway raises US$2.15M to roll out robo-advisory platform". e27. Retrieved 2018-08-30.
  10. "ex-Morgan Stanley CEO joins StashAway committee; Julius Baer appoints Taiwan head". DealStreetAsia. Retrieved 2018-08-30.
  11. "Ex Morgan Stanley CEO joins robo-advisor". Citywire Asia. Retrieved 2018-08-31.
  12. "Former Private Bank Chief Joins Robo-Advisor". finews.asia. 2017-11-30. Retrieved 2018-08-31.
  13. Okhonko, Elena (2018-08-30). "Top 4 Robo-advisors In Asia" (PDF). Kaplan University.
  14. "Fintech: Robo-advisors developing a better value proposition". The Edge Markets. 2018-08-10. Retrieved 2018-08-30.
  15. "StashAway launches robo-advisory services in Malaysia". The Edge Markets. 2018-11-02. Retrieved 2019-12-11.
  16. "Robo-advisers a low-cost option for small investors". TODAYonline. Retrieved 2018-08-30.
  17. "8 Ways to Invest S$100 Every Month Effectively". Retrieved 2018-08-30.
  18. "Fintech startup StashAway secures $4.08m funding". Singapore Business Review. Retrieved 2018-08-30.
  19. "StashAway raises US$12m led by Eight Roads Ventures". The Business Times. 2019-07-29. Retrieved 2019-12-11.
  20. Lee, Jamie. "Ex-Temasek banker emerging as active fintech investor". The Business Times. Retrieved 2018-08-30.
  21. Acosta, Francis Nikolai (2019-09-11). "Singapore robo aims high with income portfolio". Fund Selector Asia. Retrieved 2019-12-11.
  22. "The 10 new funds that stole the spotlight in Q3". Citywire Asia. Retrieved 2019-12-11.
  23. Choy, Natalie (2019-11-18). "StashAway offers portfolio to manage cash". The Business Times. Retrieved 2019-12-11.
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