The entity, Value Partners Technology Systems, has been granted licences to conduct asset management (type 9 licence), as well as dealing and advising on securities (type 1 and 4), according to records from the Securities and Futures Commission. They were granted on 5 April.
The responsible officers of Value Partners Technology are Cheah Cheng Hye, Value Partners’ chairman and co-chief investment officer; Roger Hepper, group chief operating officer; and Lai Voon San, group deputy CEO, the records show.
The spokeswoman could not give additional details about the timeline of when the robo-advisory platform would be launched as it was still being developed.
“Such development is still in progress and we will keep you posted should there be any meaningful updates,” she said, adding that the firm may announce more developments within the year.
It is not surprising that the firm has established an entity for a robo-advisory platform as King Au, the firm’s CEO, said in the firm’s 2016 annual report published in March that it had been building its own robo-advisory wealth management platform.
“While the development work is still in progress, we are looking to reach our first milestone in the near future,” Au said in the report.
In Hong Kong, robo-advisory platforms that have been made available to investors include Yunfeng Financial Group’s Youyu Robo-advisor, which was launched last month, and 8 Securities’ Chloe, which was launched in November last year.
