LU International, KASIKORNBANK and Robowealth launch new feature on FinVest

By Leandra Monteiro

Lu International Financial Asset Exchange, a subsidiary of China’s technology-empowered personal financial services platform Lufax Holding, together with KASIKORNBANK, a leader in digital banking and one of Thailand’s largest banks, and Robowealth, one of the leading Fintech companies in Thailand, announced the launch of an offshore fund investment feature in the FinVest App.

FinVest is the online investment platform built by Lu International, KASIKORNBANK and Robowealth for digitally savvy investors. The newly launched offshore fund feature will enable Thai investors to invest directly in more than 1,000 funds from more than 33 leading asset management companies around the world at their fingertips. Thai investors today are more open to international investments as led by growth opportunities, stable positive returns, and portfolio diversification.

Joanna Tang, CEO of Lu International shared, “It is another milestone for Finvest to offer clients a convenient, efficient, intelligent way to invest in offshore fund directly. Bringing global investments to FinVest users is part of the team’s mission to cater to the fast growing investment needs of users in Southeast Asia and is aligned with Lu International’s goal of making global investments more accessible. By working together with KASIKORNBANK and Robowealth to make Finvest the first mobile platform in Thailand to offer offshore funds, Lu reaffirms its commitment to bring the best of its technology and capabilities to the service of the Thai market with even more features to be added to the FinVest platform in the future. We believe this partnership will accelerate the pace of digital transformation within the financial institution industry in Thailand and across the Southeast Asian region.”

Dr. Pipatpong Poshyanonda, KBank President, mentioned that the foreign investment trend will continue to grow, as most investors are still concerned about the COVID-19 situation in Thailand with less confidence on the Thai economy. As such they have started to look for alternative investments with stable and growing returns, especially the foreign investment funds (FIF). Based on Morningstar (Thailand), the outstanding AUM invested in FIF (excluding term fund) already surpassed 1 trillion baht in April 2021 and the accumulated fund flow for 1st half of 2021 was 190 billion THB.

Mr. Chonladet Kemarattana, Group CEO and co-founder of Robowealth, affirmed that FinVest has over 130,000 registered accounts. Investors can invest in foreign master funds with real-time currency exchange. Duplication of management fees will not be charged on direct offshore fund investment. In addition, FinVest will provide neutral, non-biased investment recommendations of both onshore and offshore thematic funds being cautiously selected by Robowealth’s investment analysts and product screening committee.

FinVest is a digital investment platform under the concept “Your Wings, Your Ways” aiming to empower and facilitate any investor with their investment needs. Investors will have access to a pool of investment information, insights, articles, and products as well as weekly recommended funds. Onboarding FinVest trading account is purely digital with e-KYC and investors also have options to bind their bank account with FinVest from any of the 4 leading Thai banks – Bangkok Bank, Krungthai Bank, Siam Commercial Bank and KASIKORNBANK.