Lu International Financial Asset Exchange, a subsidiary of China’s Lufax Holding, and Kasikornbank, one of Thailand’s largest banks, have launched FinVest, an online wealth management platform.
Greg Gibb, chief executive officer at Lufax Holding told the media, “Thailand is one of the fastest-growing markets in Southeast Asia and continues to see rapid wealth growth and economic development. Partnerships and the sharing of technological know-how are defining the financial industry across the region, making significant improvements to the quality of service and offerings to clients. Through the collective capabilities of Lu International and Kasikornbank, investors now have access to international investment opportunities that have previously only been available to a select few.”
FinVest is launched with an aim to help retail investors in Thailand gain access to onshore and offshore investment products at a low minimum investment amount. Retail investors will also have access to the extensive network and relationships of Lu International, in addition to the local expertise offered by Kasikornbank. It is reported that FinVest will provide retail investors with access to more than 600 funds from 15 asset management companies in Thailand.
Mr. Patchara Samalapa, President of Kasikornbank, told the media, “Of late, the younger generation has shown increasing interest in mutual funds, preferring to conduct transactions via digital channels and seeking products related to Thai and foreign equity instruments. Moreover, open-architecture investment is growing every year. Development of the FinVest digital platform will help enhance investment potential for Thai retail investors, allowing them to directly invest in global mutual funds via FinVest.”