ข่าวไอที เทคโนโลยี

FinVest! unveil a new feature that allows direct investment in offshore


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 directlyThe firstofitskind in Thailand, the app allows investors themselves to trade more than 1,000 funds offered by 33 topnotch 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 BahtThe initiative is expected to be wellreceived among Thai investors thanks to its multiple options which can fully meet their needs in step with global megatrends, without overlapping fee payment.   

DrPipatpong Poshyanonda, KBank President, noted that investment in foreign investment funds (FIFs) has been thriving consistently given investors’ concerns about the ongoing COVID19 pandemic and Thai economic slowdownAs of April 2021, net asset value of FIFs (excluding term fundssurpassed 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 (Singaporeand Robowealth Group, reinforces FinVests distinction of having an open architecture that allows investors to directly invest in wellselected mutual funds offered by leading asset management companies across the globeInvestment can be completed via a single application, thus avoiding overlapping fee payments and providing more convenienceAdditionally, 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 innovationIt is an important opportunity for investors to earn higher returns on their investment, while benefiting from a greater investment diversityOffshore investments can now be easily made by the investors themselves, and investment management can be conducted in step with the prevailing situation

MsJoanna 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 organizationsSuch development is aimed at raising the standards of digital investment in Thailand, which has shown growth potentialFinVest is connected with the investment unit trading systems in foreign countries to facilitate investors’ direct investmentMeanwhile, 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 processesIn 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.

FinVests system has been developed to be userfriendly, 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 (Singaporealso 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 easytouse and convenient applications.  

MrCholadet 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 averageThey are primarily company employees who are interested in investmentIt was found that more than 80 percent of FinVest users invest in equity FIFs with various investment themes directly recommended by the applicationThis 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 feesFinVest automatically converts Thai Baht into foreign currencies, based on realtime forex ratesAdditionally, interesting mutual funds have been screened in the thematic investment formatEmphasis 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 worldInvestors can purchase funds with a minimum amount of 30,000 Baht 

Special offerThe launch period for offshore mutual fund trading features on FinVest is todayNovember 15, 2021FreeNo frontend fee and no limit of investment for five recommended offshore mutual fund, as follows:

  1. UOBAM RobecoSAM Smart Mobility Equities Fund– which invests primarily in leading technology companies that are involved in the development of electric vehicles (EVsand autonomous vehicles (AVs) 
  2. 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
  3. BNY Mellon Blockchain Innovation Fund – which invests primarily in companies that leverage blockchain technology across various industries 
  4. Schroder International Selection Fund (ISF)Healthcare Innovation – which invests primarily in leading healthcare companies including Johnson & Johnson, AstraZeneca, and Pfizer
  5. Baillie Gifford Worldwide Long Term Global Growth Fund – which invests primarily in companies worldwide that have the potential for exceptional growth and competitive advantage