Thailand’s Finvest has become the first mobile app in the country to offer direct investment in offshore funds with the launch of a new feature.
Investors will have access to over 1,000 funds offered by 33 asset management companies globally through the new feature, Singapore financial technology firm Lu International, one of the three shareholders and developers of Finvest, says in a statement on September 17. The other shareholders of Finvest are Thai lender Kasikorn Bank and Robowealth, a local robo adviser.
According to Lu International Chief Executive Officer Joanna Tang, the new feature is part of the company's mission to cater to the "fast growing investment needs of users in Southeast Asia".
"By working with Kasikorn Bank and Robowealth to make Finvest the first mobile platform in Thailand to offer offshore funds, Lu International reaffirms its commitment to bring the best of its technology and capabilities to the Thai market," she says in the statement.
The company says the new feature allows investors to invest in foreign master funds with real-time currency exchange.
It says Finvest will provide “neutral, non-biased investment recommendations” of onshore and offshore thematic funds that are “cautiously selected” by Robowealth's investment analysts and product screening committee.
Finvest currently has over 130,000 registered accounts.