Hong Kong-based wealth management platform, Endowus, has announced the launch of its digital private wealth platform in Hong Kong. The platform, called Endowus Private Wealth (EPW), offers clients access to over 400 fund strategies across private, public, and alternative asset classes. EPW's platform, Endowus Fund Smart, allows clients to invest in hedge funds and other private market strategies without the need for advisors. The platform has seen significant traction, with 3 in 5 investment orders for alternatives being made through the app. EPW's platform offers funds from over 80 global and local fund managers and investment firms [6782eb52].
The launch of EPW's digital platform in Hong Kong is part of the company's expansion plans in the region. Endowus aims to grow its business model in both Hong Kong and Singapore. The bilingual version of the Endowus app provides professional investors in Hong Kong with access to investments in private equity, private credit funds, and hedge funds. The platform also offers tools for retail investors, such as goal-based investing and curated funds. Endowus follows a fee-only business model, similar to those in developed wealth sectors in the UK, Switzerland, parts of the EU, and the US. The portfolios on the platform are constructed with different blends of equity and fixed income from global fund managers. Endowus is licensed by the Securities and Futures Commission of Hong Kong and the Monetary Authority of Singapore. The company has raised a total of $95 million in funding from investors including UBS Next, Citi Ventures, and Samsung Ventures [f54a1b62].