Endowus, a Singapore-based fintech firm, has officially launched its digital wealth management services to Hong Kong, the company's first international market.
According to a release, investors in Hong Kong can now build single- and multi-fund portfolios using Endowus' 140 funds across multiple asset classes.
According to the company, it is Hong Kong's first fee-only, non-commission-based digital wealth management platform. For the expansion, it has worked with PIMCO, JPMorgan Asset Management, and Allianz Global Investors.
Endowus purchased a majority position in Hong Kong-based investment management Carret Private last year.
Endowus, founded in 2017 by Gregory Van and Samuel Rhee, claims to manage US$4 billion in customer funds.
Last month, Tech in Asia reported that the fintech firm cut off fewer than 10% of its workforce, with management saying that the company's growth trajectory has halted due to the fragile economic situation.
Singapore-based digital wealth adviser Endowus Group has acquired a majority stake in Hong Kong wealth manager Carret Private Investments. The merged group will officially launch business in Hong Kong by the end of the year. Their combined client assets exceeded US$4 billion as of end June.
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