Digital wealth platform company Endowus and wealth tech firm Allfunds have joined forces to create a fund brokerage platform.
Endowus has developed the platform to support its no-fee, zero-commission business model in Hong Kong. Allfunds is providing its digital fund-distribution capabilities to enhance the platform’s operations.
Through the partnership with Allfunds, investors in Hong Kong will have access to over 160 curated funds, managed by 50 global managers in both the public and private markets, across asset classes including cash and money market, fixed income, equity, multi-asset, commodities, private equity, hedge funds and alternatives.
Endowus said the new venture would enable it to curate and onboard investment funds from a large universe of fund houses available on the Allfunds platform, as well as to bypass the process of negotiating individual distribution agreements with each fund manager. It also reported that onboarding procedures would be reduced.
One of Endowus’ main offerings in Singapore and Hong Kong is its self-serve fund platform, Fundsmart, which allows clients to choose to invest in single mutual funds or build multi-fund portfolios.
Sebastien Chaker, head of Hong Kong at Allfunds, said: “Our collaboration allows Endowus to focus on curating the funds and delivering a superior digital investment experience to their customers, while Allfunds ensures seamless and cost-effective access to these funds in a fully digital environment.”
Steffanie Yuen, managing director and head of Hong Kong at Endowus, added: “Endowus believes in the power of technology to provide Hong Kong investors with a next-generation wealth-management experience that is digitally seamless and transparent. Working with Allfunds has enabled us to offer investors an enhanced client experience.”
