Endowus Launches in Hong Kong making its first Overseas Market Entry


Endowus, Asia’s leading digital wealth platform is committed to providing investors with the most professional and comprehensive wealth management products, offering best-in-market solutions to overcome the industry pain points of high cost and misaligned incentives which often lead to poor investment returns and outcomes. To this end, Endowus has provided over HK$17 million of trailer fees rebates to its clients, either in cash reimbursements or straight back into clients’ Central Provident Fund (CPF) and Supplementary Retirement Scheme (SRS) investment accounts.

Supported by global investors, Endowus has raised a total of HK$376 million in funding from firms such as UBS, SoftBank Ventures Asia and Samsung Ventures. As the firm looks to launch its wealth management and advisory service in Hong Kong by Q4 2022, Endowus announces today the appointment of Steffanie Yuen as its Head of Hong Kong, responsible for establishing and leading Endowus’ presence in the city

Gregory Van, CEO of Endowus said, “We are thrilled to achieve another key milestone in the growth of Endowus by bringing the first-ever ‘trailer fee-free’ digital wealth platform to Hong Kong, while also marking its expansion into its first overseas market. The shifts toward transparency in financial services and digitisation of wealth have generated opportunities for unstoppable momentum. Earlier this year, we received approval from the Securities and Futures Commission of Hong Kong (SFC) to offer wealth management and advisory services in the territory. This includes approval for licences under Types 1, 4 and 9, for dealing and advising in securities, and asset management. Endowus is delighted to welcome Steffanie to the leadership team. Steffanie has built up invaluable fintech and institutional finance experience over the last decade. Under her stewardship, I believe that Endowus will be able to provide a better wealth experience for clients in Hong Kong, as we have done in Singapore.”

With over 12 years of experience in fintech, wealth management and investment banking, Steffanie graduated Summa Cum Laude from New York University’s Stern School of Business and began her career in investment banking at Deutsche Bank and Barclays in Hong Kong. She joins Endowus from Value Partners, where she was responsible for leading the Group’s Direct Distribution, Marketing, Communications and Investor Relations functions and other key strategic growth initiatives. Prior to that, she was the Business Development and Strategic Partnerships Director at Alibaba’s fintech affiliate, Ant Group. She was responsible for driving strategic collaborations and partnerships with international financial institutions and Ant Group’s overseas e-wallet partners, which together serve over 1.2 billion global active users annually.

During her time with Ant Group, Steffanie also led the set-up of a joint venture between Vanguard and Ant Group in 2019, where she served as the Chief Marketing Officer and Head of Investor Advisory Service. The joint venture became the first independent fund investment advisor approved in China, and achieved over one million users in less than one year following its launch.

Steffanie said, “Our work in Singapore demonstrates that we are driving tangible change in the industry and creating value for our clients. Endowus’ fee-only model and the provision of 100% cashback on trailer fees will be a market first in Hong Kong. We hope that this unique model which Endowus has pioneered in Singapore will be impactful in helping clients in Hong Kong to manage both their private savings and public pension monies on our digital platform. I am humbled to be entrusted with overseeing Endowus’ first regional expansion, and look forward to working with the outstanding team to bring its mission of providing all investors access to the best-in-class investment products and expert investment advisory services at a low, fair cost to Hong Kong investors. Over time, we hope to be considered by clients in Hong Kong as an essential partner for wealth planning, and in boosting retirement adequacy.”




The Money Awareness and Inclusion Awards (The MAIAs) today announced it has secured initial sponsorship from influential financial players, as the body heads towards the inaugural round of award-giving this spring.

Conceived to ‘Make Money Better’, the MAIAs is a new entity focused on raising awareness of the many problems poor financial literacy causes, while also finding the best solutions from all over the world – and shining a light on them via a high-profile awards system judged by leading academics, NGOs, journalists, influencers, and asset managers.

Early sponsors announced today for the 2022 inaugural MAIAs include Lanturn, a boutique fintech firm specializing in corporate and fund services; Endowus, a Singapore-headquartered digital wealth platform; Bitmex Academy, a multimedia crypto education platform and Albizia Capital, a fund management company.

Investor and industry veteran Michael Gilmore, founder of The MAIAs commented, “There’s currently no ecosystem for financial literacy – people are working on this worldwide, but with little idea of what anyone else is doing, what’s good or what’s dangerous.

“We believe the MAIAs can be like a pin in a pinwheel, connecting the work being done to the growing need for it, making things spin, making money better. We couldn’t be more grateful to our inaugural sponsors for their show of support and look forward to building things out, together,” added Gilmore.

The global pandemic recently highlighted the fragility of many people’s finances (a third of people worldwide have less than a seven-day financial cushion). This shocking reality, coupled with the fact that even in a comparatively financially literate country like the UK, nine out of ten people say their education failed to prepare them to handle money, underlines the urgent need for greater money awareness, and inclusion.

Joining the MAIAs crusade as judges for the inaugural 2022 awards are a host of luminaries from the field, including Patrick Jenkins, deputy editor of the Financial Times, Selina Flavius, award-winning financial influencer and author of “Black Girl Finance”, David Fernandez, Director of the SKB Institute for Financial Economics at Singapore Management University and Samuel Rhee, CIO of Endowus, the fastest-growing digital wealth platform in Asia.


Endowus launches six new Satellite Portfolios in partnership with leading global fund managers


Endowus has launched Singapore’s first satellite portfolios with institutional funds and 100% trailer fee rebates. The professionally designed and curated portfolios allow Retail and Accredited investors to add Satellite positions in the industry-leading Endowus digital wealth app, with the goal of providing diversified sources of alpha (above market returns) for Endowus app users in addition to its top-performing Core Flagship and ESG portfolios.

The six portfolios, TechnologyGlobal Real EstateMegatrendsChina Equities, China Fixed Income, and Low-Volatility Fixed Income, were prioritised in response to strong customer demand for optimised exposure to these select market opportunities and more will follow in the coming months.

Each of these portfolios have gone through a rigorous quantitative and qualitative selection and portfolio optimisation process by the Endowus Investment Office. The team’s institutional screening process has identified best-in-class funds to build diversified portfolios most suitable for Singapore-based investors. Many of these funds were previously not available in Singapore, but were launched with Endowus to build these sophisticated Satellite portfolios.

“We are excited to launch the new Satellite portfolios that are professionally managed and optimised by Endowus in response to our clients’ needs. We worked closely with the leading global managers to bring best-in-class funds to build these popular satellite portfolios. They stand head and shoulders above other offerings in the market in terms of institutional sophistication and its diversified, optimised design. It perfectly complements our Core portfolios in allowing some active tilts to personal investment preferences to achieve better returns.” says Samuel Rhee, Chief Investment Officer of Endowus.

The Endowus Satellite Portfolios will feature funds managed by many award-winning world class managers such as AllianceBernstein, Allianz, BlackRock, Fidelity, Franklin Templeton, FSSA, Fullerton, Janus Henderson, JP Morgan, Neuberger Berman, Schroders, Thematics, UOB Asset Management.

“Traditional financial advisors have long been incentivised by fund managers to sell their products. This may result in advisors recommending higher cost products for their own benefit, rather than choosing what is best for their clients’ profile and needs. As we offer new and exciting investment opportunities, it is important that we continue to do so in an unbiased manner—and in areas that complement our investors’ needs,” says Endowus Chief Executive Officer, Gregory Van.

Cost remains the single most important determinant of future returns, so being cost-efficient is a key factor in bringing successful outcomes to these portfolios. Endowus’ industry-first and ongoing commitment to 100% trailer fee rebates and no sales fees continues with these Satellite portfolios. This transparent cost structure, along with accessing much lower fund-level fees, culminates in an estimated 67% in cost savings for Endowus clients on average compared to traditional satellite investing offerings. This commitment also ensures that Endowus’ selection of funds is based solely on their track record, experience and ability to deliver on performance, rather than incentives provided by the fund managers.


Endowus scores double win at Best of the Best Awards 2021


Endowus, one of Singapore’s leading MAS-licensed investment platforms, won two accolades at Asia Asset Management’s Best of the Best Awards 2021: The ‘Singapore Fintech Innovation in Asset Management’ award and the ‘Singapore Rising Star’ award, showcasing the wealthtech company’s steps towards becoming an industry leader in Singapore.

The ‘Rising Star’ award honours the market participant that has become the one to watch—the one demonstrating the greatest promise within the country’s fund management industry. A recent addition to the list of awards presented by Asia Asset Management, the ‘Fintech Innovation in Asset Management’ award recognises a firm’s product or service offering that has made a significant difference to clients, deploying cutting edge technologies to offer better outcomes. The awards recognise Endowus’ innovation and strategic development in the industry, which has helped fuel massive growth in the past year.

We are honoured to receive these two awards that indicate we are on the right path and taking the right approach with the industry-first initiatives we’ve implemented,” said Endowus Chief Executive, Gregory Van.

“The Endowus team has worked tirelessly to implement our vision to help Singaporeans invest better, so they can live easier today, and live better tomorrow and through retirement.”

As part of their innovative efforts to provide Singaporeans with new financial solutions, Endowus launched as the first and only digital wealth platform to incorporate holistic wealth planning from Singapore’s pension funds (CPF), Supplementary Retirement Scheme (SRS), and cash savings—providing individual investors with more control, democratised access to products, and a clearer picture of their total wealth.

Endowus accesses institutional share classes of funds, making them available to retail investors at low costs typically only available to the industry’s largest and wealthiest clients. Endowus only charges a transparent percentage-of-assets access fee, with no separate transaction, custodian, forex, nor any other hidden fees.

Endowus further pursues fair and transparent fees for retail investors by setting a new standard for removing the conflicts of interest that typically plague the industry, implementing an industry-first 100 percent trailer fee rebate to its clients. This enables Endowus to remain performance-driven and fully aligned to client interests, bringing them only the best and most suitable products.

“We believe we have helped improve the investment experience for the everyday investor, by opening doors to best in class funds, and ensuring that we only act in the interest of our clients with the fees that we charge, and rebates that we return,” added Van.

“We started the business with the aim to make impactful change to every Singaporean’s life, which is to give a better investment and advisory solution for their CPF monies, and we will continue to innovate while searching for avenues to further improve what we provide our clients and elevate what investors should expect from the industry.”

Helping people take ownership of their personal finances is a vital mission for Endowus, which was founded on the idea of providing affordable access to high-quality investment options to create a better and more sustainable future for investors and their families. To further promote inclusion, Endowus has also lowered its minimum account size in February.

The Asia Asset Management virtual awards ceremony will take place on Tuesday, April 27, 2021.