DUBAI, UAE, Jan. 25, 2021 /PRNewswire/ --
StashAway, Southeast
Asia's largest and fastest-growing digital wealth manager
for both retail and professional investors, has announced that
they're managing more than US$1billion.
Since StashAway first launched its services in 2017,
numerous wealth managers in Southeast Asia and
MENA have emerged. StashAway is the first digital wealth
manager in any of those regions to announce
that it manages more than $1
billion USD. StashAway has surpassed
US$1B in assets
under management in 42 months, faster than it
took the world's largest digital wealth managers, Betterment
and Wealthfront to reach the same milestone.
Michele Ferrario, Co-founder and
CEO of StashAway says, "When the company was founded, our
objective was to significantly improve the way people build
their wealth. For those who do invest their savings, traditional
investment options just weren't acceptable. But we knew that cash
in the bank is actually our biggest competitor: in MENA, 45% of
financial wealth is held in bank deposits, compared to 14% in
North America. That's why we've
always focused not only on sophisticated investment principles and
a great customer experience, but also financial education to help
more people understand how to better manage and grow their wealth.
This relationship with our clients and the public has been a key to
our fast growth."
One of the keys to attracting so much in assets has been
StashAway's ability to generate such strong returns even through
the last few years' volatility: through 2 market corrections in
2018 and a market crash in 2020, StashAway portfolios generated
annualised returns* ranging from 17.1% (for its highest risk
portfolio) to 5.3% (for its lowest-risk portfolio) since it
launched in July 2017. In 2020 alone,
the portfolio returns ranged from 24.1% to 5.2% for those same
portfolios, and consistently outperform their same-risk
benchmarks.
The World Economic Forum recognised StashAway in 2020 as a
Technology Pioneer for developing cutting
edge technology and "contributing greatly to improving the state of the world."
Ramzi Khleif, General Manager of
StashAway in MENA adds that "Reaching this $1 billion USD milestone in less than 4 years is
only one of the many signs we see that Asia and MENA truly want a better way to
create wealth: We see high conversion rates, large consistent
deposits, and engagement with our educational content, for example.
We're still only scratching the surface for what's possible when it
comes to transforming wealth creation in Singapore, Malaysia, and MENA."
*As of the End of
December 2020, returns in USD. Past performance is not a guarantee
for future returns. Before investing, investors should carefully
consider investment objectives, risks, charges and expenses, and if
need be, seek independent professional advice.
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About StashAway
StashAway is a digital wealth management platform that offers
investment and cash management portfolios for both
retail and accredited investors. Its technology delivers automated,
personalised portfolio management for each client's individual
portfolios. It offers global growth-oriented investment portfolios
targeting different levels of risk and StashAway SimpleTM, a
straightforward cash management solution.
StashAway has attracted financial backers from around the world.
Backers include: Eight Roads Ventures, the global investment
firm backed by Fidelity and early investor in Alibaba; Square Peg,
the largest venture capital fund in Australia; Asia Capital & Advisors, the
private equity firm led by Francis
Rozario and Aaron Razario; as well as Burda Principal
Investments, the growth capital arm of German media and tech
company Hubert Burda Media.
StashAway has a total paid-up capital of US$36.6million. These funds have gone towards
launching an income portfolio, a cash management portfolio, as well
as new market entries in Malaysia
and the MENA region. Since raising its Series C in August 2020, the Company has launched StashAway
Workplace, a corporate financial benefits solution, and launched
its services in the MENA region, out of its Dubai office.
StashAway operates in Singapore, Malaysia and the Middle East and North Africa (MENA) region. StashAway holds
fund management licenses from Singapore's MAS and Malaysia's SC, and an asset management license
from the Dubai Financial Services Authority.
www.stashaway.com