Pension segment and new licence to grow wealth management business: iFast CEO

THE core wealth management business of iFast recovered in 2024, with net inflows of S$3.3 billion compared to S$2 billion the year prior.

Gross unit trust subscription increased to S$7.4 billion compared with S$4.5 billion in 2023, and fixed income turnover reached new highs in Q4 2024 of more than S$1 billion over the last seven years.

Now, iFast aims to hit assets under administration of S$100 billion by 2028 to 2030, up from S$25 billion at the end of 2024, said Lim Chung Chun.