FinVest! First Thai app to unveil a new feature that allows direct investment in offshore mutual funds

Friday 17 September 2021 16:50
FinVest! First Thai app to unveil a new feature that allows direct investment in offshore mutual funds offered by 33 world-class asset management companies - no overlapping fee payment!
FinVest! First Thai app to unveil a new feature that allows direct investment in offshore mutual funds

FinVest - a digital investment application under the cooperative effort of KASIKORNBANK (KBank), Lu International and Robowealth Group - has pioneered a novel feature to offer Thai investors greater options and opportunities in making profit from offshore mutual funds directly. The first-of-its-kind in Thailand, the app allows investors themselves to trade more than 1,000 funds offered by 33 top-notch asset management companies worldwide. The launch of this new feature coincides with brighter signs in the Thai economy and investment landscape, as evidenced by the thriving foreign investment funds (FIF market), now surpassing 1 trillion Baht. The initiative is expected to be well-received among Thai investors thanks to its multiple options which can fully meet their needs in step with global megatrends, without overlapping fee payment.

Dr. Pipatpong Poshyanonda, KBank President, noted that investment in foreign investment funds (FIFs) has been thriving consistently given investors' concerns about the ongoing COVID-19 pandemic and Thai economic slowdown. As of April 2021, net asset value of FIFs (excluding term funds) surpassed 1 trillion Baht, with net inflows totaling 19 billion Baht during the first half of 2021.

The feature for trading of offshore mutual funds, jointly developed by Lu International (Singapore) and Robowealth Group, reinforces FinVest's distinction of having an open architecture that allows investors to directly invest in well-selected mutual funds offered by leading asset management companies across the globe. Investment can be completed via a single application, thus avoiding overlapping fee payments and providing more convenience. Additionally, FinVest is different from traditional investment platforms wherein financial institutions sell mutual funds of the asset management companies in their groups only.

The open architecture investment launched by FinVest offers investors access to a large variety of global investment patterns, including some business segments that are not yet fully represented in the Thai stock market, such as technology and innovation. It is an important opportunity for investors to earn higher returns on their investment, while benefiting from a greater investment diversity. Offshore investments can now be easily made by the investors themselves, and investment management can be conducted in step with the prevailing situation.

Ms. Joanna Tang, CEO of Lu International (Singapore) - a subsidiary of Ping An Group with extensive skills in global investment technology, said the feature for trading of offshore mutual funds has been jointly developed on the synergy of strengths of the three organizations. Such development is aimed at raising the standards of digital investment in Thailand, which has shown growth potential. FinVest is connected with the investment unit trading systems in foreign countries to facilitate investors' direct investment. Meanwhile, trading of offshore mutual funds can be made in Thai Baht as the systems will provide automatic foreign exchange to deliver convenience in all trading processes. In addition to attractive returns from offshore investment, FinVest offers a simple alternative with diverse choices for trading of offshore mutual funds, as well as a lower minimum investment amount than other such platforms in Thailand.

FinVest's system has been developed to be user-friendly, with emphasis placed on the user experience and user interface (UX/UI). Aside from its considerable experience and expertise in developing applications for offshore fund trading, Lu International (Singapore) also has a sound understanding of customers' needs which it has applied in designing the offshore mutual fund trading features on FinVest, thus fulfilling their preference for easy-to-use and convenient applications.

Mr. Choladet Khemarattana, Group CEO of Robowealth, a wealth tech specialist supervising the FinVest service platform, said that there are now roughly 130,000 FinVest users, ranging in age from 26 to 30 on average. They are primarily company employees who are interested in investment. It was found that more than 80 percent of FinVest users invest in equity FIFs with various investment themes directly recommended by the application. This clearly shows that Thais are increasingly keen on offshore investment.

Therefore, this is a good time to introduce the offshore mutual funds trading feature to meet the investment needs of Thai consumers and for FinVest users to directly trade offshore mutual funds, with no need to pay any overlapping fees. FinVest automatically converts Thai Baht into foreign currencies, based on real-time forex rates. Additionally, interesting mutual funds have been screened in the thematic investment format. Emphasis is also placed on providing impartial investment data from an expert investment team in collaboration with the Product Screening Committee to help screen funds from 33 leading asset management companies around the world. Investors can purchase funds with a minimum amount of 30,000 Baht.

Special offer! The launch period for offshore mutual fund trading features on FinVest is today-November 15, 2021. Free! No front-end fee and no limit of investment for five recommended offshore mutual fund, as follows:

  • UOBAM RobecoSAM Smart Mobility Equities Fund - which invests primarily in leading technology companies that are involved in the development of electric vehicles (EVs) and autonomous vehicles (AVs)
  • Schroder International Selection Fund (ISF) Global Energy Transition - which invests primarily in companies that are leading the way in clean energy business and technology on a global scale
  • BNY Mellon Blockchain Innovation Fund - which invests primarily in companies that leverage blockchain technology across various industries
  • Schroder International Selection Fund (ISF) Healthcare Innovation - which invests primarily in leading healthcare companies including Johnson & Johnson, AstraZeneca, and Pfizer
  • Baillie Gifford Worldwide Long Term Global Growth Fund - which invests primarily in companies worldwide that have the potential for exceptional growth and competitive advantage

About FinVest
FinVest is a digital investment platform that operates under the motto of "Your Wings, Your Ways", which grants investors easy access to investment, simply by downloading the FinVest mobile application. Investors will receive content which is easy to understand, precise and helpful in setting investment goals through an impartial lens. Once the account is activated via smartphone, investors have the option of linking their account to Bangkok Bank, Krung Thai Bank, KBank, or Siam Commercial Bank. With an emphasis on variety, interested persons can invest in various mutual funds offered by leading asset management companies in Thailand - and many more across the globe, directly via FinVest. Every stage of the process is secure, having attained world-class FinTech standards. For further details about FinVest, please visit www.finve/…

*Net asset value of FIFs (excluding term funds) - Data from Morningstar Direct, as of June 30, 2021

Source: Kasikorn Bank