The firm believes the acquisition will bolster its business in Asia.
The underlying product uses artificial intelligence (AI) to guide stock selection.
This includes the bank’s asset and wealth management businesses.
The bank’s Hong Kong operations, which include brokerage, asset and wealth management services, recorded losses in the last few years.
Malaysia’s Maybank is aiming for a soft launch of its discretionary portfolio management service in Singapore by the end of this year, Ang Mui Koon, senior director of discretionary services, confirmed in an interview with Fund Selector Asia.