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Singaporean-based Fundsupermart.com announced today (July 30) that it has recently expanded its operations with the launch in Hong Kong of the online unit trust trading platform of iFAST Financial (HK) Limited. It is the company's first investment in Greater China.
iFAST (HK) has been issued with Type 1 and Type 4 licenses for dealing and advisory services by the Hong Kong Securities and Futures Commission (SFC).
Speaking at the launch, Fundsupermart.com's Managing Director in Hong Kong, Patrick Ho said he was confident that the new service would offer Hong Kong-based investors an easy and cost-effective way to research and build a unit trust investment portfolio.
Mr. Charles Ng, Acting Director-General of Investment Promotion at Invest Hong Kong, congratulated Fundsupermart adding, "Hong Kong's mature and well-regulated financial services, coupled with easy access to a strong pool of local, regional and international investors has driven the city's success and made Hong Kong a particularly attractive base for foreign companies. We look forward to following iFAST's success."
Headquartered in Singapore, Fundsupermart.com specialises in unit trust investing. iFAST Financial (HK) Limited is a subsidiary of iFAST Corporation. iFAST Corporation has two corporate shareholders, SPH AsiaOne Pte Ltd, the Internet arm of Singapore Press Holdings, Singapore's largest media group, and DMG & Partners Securities Pte Ltd (a 49% associate of Deutsche Bank).
According to the Lipper/IMAS Singapore Fund Flows Insight Report, iFAST Financial estimates that it accounts for about 35% of the net inflows in Singapore's unit trust industry for the one-year period ending March 2007.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing the support needed to establish or expand a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Monday, July 30, 2007
Issued at HKT 17:02
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