Schroders Singapore and Thailand-based Robowealth announced a strategic partnership to launch wealth tech products, services and educational content for Thai retail investors, according to a statement by Schroders.
The design of the portfolios and the selection of the underlying funds will be advised by Schroders. The portfolios will range across several asset classes (including alternatives and currencies), sectors, themes and styles, with active downside risk management.
“The Thai market has one of the fastest-growing rates of digital adoption in Southeast Asia, driven by an emerging digitally-savvy population. We anticipate that digital wealth management will play an increasingly pivotal role for investors in Thailand,” said Arthit Thongchareon, head of Thailand business, Schroders.
The portfolios will be offered through Robowealth’s digital platforms. Robowealth provides model portfolio services and mutual fund investment services across various platforms and branding in Thailand.
The partnership will initially launch with a dynamic model portfolio offering on Robowealth’s “odini BLACK” platform – targeted at investors with a minimum investment capital of $15,000 – using Thailand-domiciled funds only.
The next phase, scheduled for roll-out later this year, will incorporate an open-architecture suite of curated offshore funds, proving investors with access to a broader range of investible options.
There are also plans to extend the products and services to other Robowealth platforms, as well as collaborate with Robowealth’s partners. “Our goal is to eventually expand the service to cover the other digital wealth platforms we manage, and avail our services to a wider range of investors in Thailand.
The digital scene in Thailand is at an early stage, with just a handful of robo-advisors in the market.
TrueMoney, the largest e-wallet in Thailand, partnered with Ascend Wealth, a mutual fund app operated by Robowealth Group, to expand into mutual fund investments in November last year, and aims to distribute more than 600 mutual funds from 10 managers in the initial phase. In the same month, Kasikorn Bank rolled out FinVest, an online wealth management platform, in collaboration with Lu International and Robowealth.
In addition to tapping third-party online platforms, many fund houses have developed their own online transaction portals. Kasikorn Asset Management (KAsset) reportedly has three digital channels, including its mobile applications K-My Funds and K Plus, as well as K-Cyber Invest, its online service for investment in Kasikorn mutual funds.