Online brokerage firm UP Fintech has announced a new WealthTech solution to provide customers with a one-stop-shop for investing in global mutual funds.
Fund Mall has a selection of more than 30 renowned funds covering numerous underlying assets to empower investors to create diversified portfolios tailored to their specific needs.
Since launching in 2014, UP Fintech has established itself as an online brokerage firm focusing on global Chinese investors. Its proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world.
Over the past two years it has focused on strengthening its wealth management and asset management capabilities.
“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,” said Wu Tianhua, chairman and CEO of UP Fintech. “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.”
Its first step to towards this goal was to introduce its exchange-traded fund UP Fintech China U.S. Internet Titans ETF in 2018.
It then added another asset management feature, Cash Plus, in 2019. This cash management service invests in treasury bonds, investment-grade bonds, and bond ETFs, providing clients with high liquidity and steady interest.
It is against this background that UP Fintech launched Fund Mall on its trading platform Tiger Trade.
Tianhua argued that the launch represented an opportunity for investors to tap into the “more than 100,000 open-end funds” that exists around the world.
“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,” he continued.
“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. Twenty-two of the funds went through the 2008 financial crisis and 95% of the funds manage more than $100m.”
Fund Mall also includes funds that invest in multiple classes of securities, including equities, bonds and money market funds, empowering users to allocate their assets in accordance with their specific investment goals and risk-preferences under different market conditions. Recent market volatility has led some investors to move into bond mutual funds for safety and stability.