Aiming to enhance quality of life, Robowealth has initiated the "You Collect They Can Learn" project in which people can invest in mutual funds while providing underprivileged children with educational opportunities at the same time.
Running until April 30, the project will help keep children in school by investing through the Odini application to give education grants of 3 million baht this year. In Thailand, around 2 million students (or 30% of all students) fail to reach secondary education, according to the Equitable Education Fund statistics.
"This project is the result of inequality in Thai society. With over 20 years of experience in capital markets, we realised that Thailand has one of the world's worst wealth distributions. Many people are struggling to survive as the cost of living has increased. They work hard but still have little savings," said Chonladet Khemarattana, group chief executive officer of Robowealth.
"According to the Office of the National Economic and Social Development Council, Thais have an average income of 20,000 baht a month, resulting in some children lacking education opportunities. This has become an obstacle for children to continue their education in university and get a high-income job."
The project is titled, You Collect They Can Learn. (Photos: Robowealth Group)
The project is designed to support education with a long-term goal of reaching a diverse customer base. Investment through this digital platform will allow clients to choose their preferred charity or school that will receive grants. With e-receipts, the donation will also be eligible for personal income tax reduction.
"For the first phase of the project, the education grants will go to Yuvabadhana Foundation at 0.2% of the net allocation investment amount. Robowealth is putting up the cash for grants and underprivileged students in secondary and vocational schools will receive funds of 7,000 baht and 14,000 baht a year. The recipient selection process will consider family wealth and help children complete secondary and vocational education," Chonladet said.
Launched in 2018, Odini is the first robo-advisor for people looking for a simple way to invest through automated ready-made mutual funds portfolios. It will deliver an investment strategy with automatic portfolio rebalancing.
Find out more details at robowealth.co.th.
The project is titled, You Collect They Can Learn.
