- Received full licence by SFC Hong Kong for Types 1, 4 and 9
- Introduces Direct Indexing Global Portfolios for Retail Investors
(SINGAPORE, May 17, 2022) – Syfe, a digital investment platform headquartered in Singapore and licensed by the Monetary Authority of Singapore (MAS), today announces its entry into Hong Kong. Syfe has secured its licence from the Securities and Futures Commission (SFC) in Hong Kong under Types 1 (Dealing in Securities), 4 (Advising on Securities), and 9 (Asset Management), and regulated by the Securities and Futures Commission (SFC).
This marks the company’s first country expansion since its Singapore launch in 2019 as it accelerates its geographical expansion plans to be present in multiple markets by end 2022. Syfe has gained tremendous success in Singapore, and is a trusted and leading brand in Singapore’s growing wealthtech industry.
The company is backed by some of the world’s biggest venture capital firms including Peter Thiel-backed Valar Ventures, partners from DST Global and Unbound. With its Series B round in July 2021, Syfe has raised USD 52.4 million in total funding to date.
“We see tremendous potential in the Hong Kong market given the current nascent stage of growth for digital wealth management platforms coupled with a high savings rate and rising cost of living. Syfe brings a truly differentiated offering to the market, combining decades of expertise, innovative products at a fraction of the cost that traditional institutions charge. As we grow our presence in Hong Kong, Syfe will continue to introduce unique solutions to meet the needs of users who are eagerly seeking new ways to grow their wealth. We are very confident of succeeding in Hong Kong as we have in Singapore,” said Dhruv Arora, Founder & CEO.
Syfe creates its own portfolios based on a passive, long-term investment strategy that minimises costs. The following portfolios are currently offered in Hong Kong:
- Core (4 Portfolios): Built for one’s essential financial goals. Core portfolios maximise risk-adjusted returns by holding equities, bonds and gold in varying allocations. Each core portfolio is broadly diversified across asset classes, sectors and geographies.
- Themes (5 Portfolios): Thematic portfolios function as satellite portfolios to complement the Core, allowing investors to have added exposure to opportunities in Disruptive Technology, Healthcare Innovation, China Growth, Global Income and ESG & Clean Energy.
Direct Indexing Global Portfolios, Leveraging the Same Technology Used to Build Syfe REIT+
Over the last few decades, passive investing has gained massive popularity through the proliferation of index funds and Exchange Traded Funds (ETFs). As technology advances, the next evolution of passive investing has now been made possible.
Exclusively for Hong Kong, Syfe’s Core portfolios and its disruptive technology thematic portfolio leverages the direct indexing strategy for its US equity component of each of the portfolios, in place of US ETFs hence significantly reducing costs. The weights of individual stocks will vary according to the portfolio selected. This builds on the same approach Syfe has taken to construct its popular Syfe REIT+ portfolio in Singapore, where investors directly own a portfolio of 20 REITs which tracks the SGX iEdge S-REIT Leaders Index.
Through direct indexing, an investor directly owns the underlying individual stocks in their portfolio, and gains the same broad market exposure at low cost that an ETF or index fund can offer. The key benefits of direct indexing include greater transparency for investors who will be able to know exactly what they own, cost savings of up to 90% of fund fees, and reduction in the overlap of stocks.
Syfe’s Geographical Expansion Plans
With the launch of Hong Kong, Syfe is well on track with its geographical expansion plans. Its mission is to transform the way people across Asia manage their money and enable everyone to invest with smart, affordable and intuitive financial solutions. Syfe is committed to delivering best-in-class solutions to support customers in meeting their financial goals, whether it is retirement, financial independence, children’s education, buying a house or more.
“With Syfe making its entry into Hong Kong, the company is now firmly present in two of Asia’s leading wealth management hubs. We will continue to make broad strides toward our vision of being the leading digital investment platform across Asia,” concluded Dhruv.
Syfe is an MAS and SFC licensed digital investment platform that is building the next generation of financial solutions for individuals across Asia. Launched in July 2019 in Singapore, Syfe’s mission is to transform the way people manage their money and make high quality financial services affordable and accessible to all. Syfe is the all-in-one platform where everyday investors can access simple, smart and affordable investing, to grow wealth their way.
Syfe Wealth offers personalised and custom portfolios, enabling users to fulfil their long-term financial goals. Grounded in the deep expertise of our financial research team, Syfe Wealth offers investment strategies for the most important goals in life, as well as access to Syfe’s wealth advisors and an intuitive investing experience that is low cost and hassle-free. The platform has no minimum investment amounts and maintains a low annual fee, starting at 0.35 percent per annum of the total amount invested.
If you have friends and family in Hong Kong, let them know they can sign up for exclusive early access by joining our waitlist!