Steffanie Yuen, Head of Hong Kong, discussed the pros and cons of clearing housing mortgages in a high interest rate environment. Those who pay off their mortgages early do so to reap the benefits of shortening the repayment period while reducing the total repayment amount. However, this results in lower asset liquidity which compromises emergency funds while increasing opportunity costs of investing in other products. Investors can thus opt for shorter-term, cash management products such as money market funds.

Endowus, Asia’s leading fee-only wealth platform offers Hong Kong clients a fair and conflict-free hybrid wealth experience by pioneering a non-commissioned-based model that does not charge any trailer fees or sales commissions. Endowus currently manages assets worth over US$5 billion (HK$39 billion), providing institutional-share class investment opportunities for its clients at a low, fair fee. Endowus’ Fund Smart platform, offers clients access to over 200 best-in-class funds across asset classes including cash & money market, fixed income, equity, multi-asset, and commodities.

As immigration has become increasingly popular among Hong Kong residents, Steffanie Yuen, Head of Hong Kong at Endowus shared four financial tips for those looking to immigrate. Start with setting a budget and divide relevant costs into two buckets - migration expenses and living expenses. Most importantly, one should familiarise themselves with foreign tax policies as the budget should take into account all taxation requirements.

Samuel Rhee, co-founder and CIO of Endowus explained the firm’s mission to disrupt the private banking industry, and solve the misalignment of interests between fund managers, banks, and private wealth clients. Beyond fixing the broken wealth experience in Asia, Endowus will tap into its technological solutions to improve the wealth management experience and scale its business.

Singapore-based Endowus has raised a total of US$95 million in funding to date, from partners including Citi Ventures, MUFG and four Asian billionaire families. Reporting 80% revenue growth in 2022, the wealthtech firm now looks to enhance its offerings in Hong Kong. The initial market launch included a fee-only wealth platform, a self-serve fund platform with 200+ funds, and private wealth management. Endowus' dedicated tech stack for Hong Kong has yielded positive initial responses, solidifying its standing in the competitive wealth management sector.

Singapore's Endowus secures $35M in funding with new and existing investors. The wealth management platform stands out by serving private wealth and public pension, offering a fully automated process for investors. Endowus further differentiates by providing top-performing funds managed by professionals, rebating all trailer commission fees through cashbacks. It has over $5 billion in assets under management, and US$40 million created in savings for clients. Co-founder Samuel Rhee emphasises the outsized opportunity for wealthtech players in the APAC region, which accounts for a significant portion of global wealth.

Singapore's Endowus Group, a digital wealth adviser, secures HK$273 million ($35 million) in funding, aiming to bolster its presence in Hong Kong. The company plans to utilise the proceeds for client acquisition, product education, and solutions development in the city, highlighting its strategic importance in the Greater Bay Area. With Hong Kong positioning itself as Asia's wealth management and hedge fund hub, Endowus views the region as promising for growth. The wealthtech platform obtained a license to operate in Hong Kong in 2022 and launched its services there this year.

Singapore's digital advisor, Endowus, it today backed by notable investors including Citi Ventures, MUFG Innovation Partners, UBS Next, EDBI, Prosus Ventures, Lightspeed Venture Partners, Singtel Innov8, and unnamed Asian billionaire families. The company's fee-only, digital-first approach, aimed at mass affluent and early HNW clients, has garnered support despite a challenging fundraising environment. Endowus will employ the funds to expand further in its core markets of Singapore and Hong Kong, solidifying its position as a key player in the digital wealth management landscape.

The Endowus Wealth Insights Report 2023 highlighted that 1 in 3 women in Hong Kong aim to explore new wealth management platforms and products. For women looking to grow their wealth, Steffanie Yuen, Head of Hong Kong at Endowus, shared why time in the market is more important than timing the market. Adopting a goal-based, long-term investing strategy allows women to hedge against inflation, and build wealth steadily through the power of compounding interest, ensuring peace of mind during their retirement years. Investors should also establish clear financial goals and invest consistently to ensure that they stay invested.

Steffanie Yuen, Head of Hong Kong at Endowus shared tips for buying a property in HK. In addition to mortgage costs, buyers should consider the objective of the purchase, their individual cash profile, and personal circumstances. Buyers also have to stress test their finances in the event that HK’s mortgage rates increase and consider the hidden costs such as management fees and property insurance. It is good practice to set aside an emergency fund to prepare for unforeseen circumstances.

Endowus has expanded its alternatives offerings under Endowus Private Wealth, in response to the growing demand for holistic wealth management services in Singapore and Hong Kong. It democratises access to private banking and institutional-grade services by offering systematic advice and best-in-class investment strategies in all asset classes and investment styles – including public and private markets, alternatives, quant, passive index, and active investment opportunities. The alternative strategies are managed by established players such as Balyasny, Brevan Howard, Bridgewater, and more.

Samuel Rhee, Chairman and CIO at Endowus went on Bloomberg Markets Asia to discuss the impact of recent global market movements. He highlighted that market growth is stronger than expected and inflation has come off despite the Fed rate hikes, the Ukraine war, and bankruptcies of US banks. While emerging markets were hit hard by a stronger US dollar, the public market is performing better as the stock market supply has been increasing. However, as demand for Alts grows and companies choose to remain private longer, private markets continue to generate greater potential and broadened opportunities.