NEWS

Wealth management company AQUMON opens office in Shanghai

March 4, 2022 | Marketing Interactive | Portfolio
Share :

Hong Kong-based digital wealth management company AQUMON has opened a new office in Shanghai. The expansion is aimed at expanding its footprint in China.

AQUMON said the new location is a strategic next step for the renowned Fintech firm to grow beyond the Greater Bay Area. This expansion will mark AQUMON’s operating presence in its third Chinese city after Hong Kong and Shenzhen. The company also has a registered office in Singapore.

“China’s growth potential in the wealth management market is tremendous. At the end of 2021, it was conservatively estimated that there are 30 million investors with investable assets of more than ¥1 million, and we are continuing to see the growth of middle-class assets," said Kelvin Lei, CEO and co-founder of AQUMON.

He added, "In view of the trend, we remain very optimistic about the development of China’s wealth management market, especially since mainland investors are becoming more sophisticated, looking towards more personalised and technologically-advanced investment products."

AQUMON said its onshore investment management business has been growing substantially in recent years, the unit was launched in 2019 when the firm received its Private Investment Fund License from the Asset Management Association of China (AMAC). The firm’s quantitative strategies offerings are subsumed under the newly launched AQUMON Bespoke service and have seen a dramatic growth of 454% AUM in the past year.

"We are confident that our high-performance algorithmic strategies combined with high-tech platforms and personalized services will give customers better alpha-driven returns and drive adoption of digital WealthTech products in China," Lei said.