Moomoo Singapore captures 25% of market share
In Singapore, Moomoo Singapore continues to attract new investors, with the client’s AUM increasing by 45.4% year-over-year. The strong performance is a testament to the company’s diversification strategy's success, enabling it to effectively capture growth in different segments by deploying the right vehicles to the right markets.
Says Gavin Chia, Managing Director of Moomoo Singapore: “The company’s impressive performance and growth in 2022 and Q4 demonstrates our commitment to serving the evolving investment needs of local investors. Despite the current global economic and geopolitical outlook, we are heartened to see Singapore investors take a proactive step towards achieving their financial goals by leveraging products that suit their needs and risk appetites. Our parent company has a fortress balance sheet and Moomoo Singapore is well-positioned to execute our growth plan and products roadmap. As we look ahead to 2023, with a commitment to leading the charge in technology and innovation, we will continue to satisfy the diverse preferences of local investors by enhancing and expanding our offering.”
Some key highlights of the announcement include:
- During the reporting period, Moomoo Singapore has successfully reinforced its position as a leading tech-driven investment and wealth management platform. Its local user number has exceeded 25% of the city-state’s adult population;
- In 2022, Moomoo Singapore participated in NoonTalk Media Limited’s IPO as its sub-placement agent and acted as a participating dealer for the listing of UOBAM Ping An ChiNext ETF, and both the CSOP CSI STAR and CHINEXT 50 Index ETFs.
- In Q42022, Moomoo Corporate and Institutional Services’ (Moomoo CIS) ESOP made its debut, thus making a significant milestone in the internalisation of the company’s enterprise business;
- And its wealth management business continued to be a trusted brand among Singapore investors, with an increase to its asset balance sheet to 64.2% from the previous quarter’s, and the number of fund investors up 75.1% sequentially, following further expanded fund offerings and upgraded product features. In Q42022, the platform launched both its private investment funds and fund Portfolio Rebalancing services for keen investors.
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