UP Fintech, an online brokerage firm, has launched its Fund Mall service and entered the wealth management sector.
Focusing on global Chinese investors, UP Fintech’s new solution provides a one-stop shop for investing in global mutual funds.
Fund Mall has a selection of over 30 funds covering numerous assets. In addition, it allows investors to create diversified portfolios tailored to specific needs.
This marks a step forward for UP Fintech in enriching its wealth management proposition. Its trading platform, Tiger Trade, also added the asset management feature Cash Plus. It invests in treasury bonds, investment-grade bonds, and bond ETFs. This is also connected to Fund Mall.
“There are more than 100,000 open-end funds globally. When selecting mutual funds to put into our Fund Mall, not only are we focused on fundamental criteria such as the fund managers’ investment strategies, and track records, but we also pay close attention to other metrics, including the fund’s AUM and inception date, to judge whether the fund has gone through both bull and bear market cycles,” said Wu Tianhua, chairman and CEO of UP Fintech.
“We hope to include best-in-class funds that have withstood the test of time and provided investors with solid returns over long periods. The mutual funds that we selected for inclusion on our platform have been in operation for over 13 years on average. 22 of the funds went through the 2008 financial crisis, and 95% of the funds manage more than $100m.”
Fund Mall is available on the latest version of Tiger Trade and will continue expanding its offering, providing clients with access to diversified investment choices from leading fund families.
Furthermore, UP Fintech expects to offer wealth management services to investors in other countries and regions in the future.
“We believe wealth management is an integral part of the comprehensive services offered by our company as it complements existing investment capabilities on our trading platform. We aspire to become a one-stop destination for users to allocate their assets across a wide range of securities and investment products and we are confident this strategy will enhance our customer retention and diversify our income stream in the long run,” Wu added.