StashAway launches digital wealth advisory platform in Hong Kong

SINGAPORE-BASED StashAway on Wednesday announced that it has launched its digital wealth advisory platform in Hong Kong.

The platform will be available to Hong Kong residents and is licensed by the Securities and Futures Commission.

In a press statement, the robo-adviser said that Stephanie Leung will lead its expansion in Hong Kong. She has over 17 years of experience in managing multi-asset portfolios globally for Goldman Sachs as well as for institutional investors and family offices.

Ms Leung noted that wealth management in Hong Kong has largely been limited to traditional providers, who often operate on, and are incentivised by high commission-based fees and high minimum investment amounts.

"StashAway breaks those barriers and makes investing accessible to all," she said.

The firm has clients from more than 160 countries and manages over US$1 billion of assets. Last November, it expanded to the United Arab Emirates to tap the growing mass affluent segment in the Middle East and North Africa region.

StashAway said its portfolios have consistently outperformed their respective same-risk benchmarks since their inception in 2017, with annualised returns ranging from 21.3 per cent (for its highest-risk portfolio) to 4.7 per cent (for its lowest-risk portfolio) as at February this year.