FINNOMENA hits 30 billion baht in Asset-Under-Advisement (AUA)
published : 29 Jul 2021 at 07:36
citing “Top of Mind Strategy” to deliver over 90% growth in the first half of 2021.
FINNOMENA, the one-stop digital wealth management platform for investors and financial advisors, has shown outstanding performance amid the COVID-19 pandemic by consistently building trust among investors while continually developing its platform, recently surpassing 30 billion baht in Assets Under Advisement. In addition, FINNOMENA has co-crafted a new investment portfolio with Franklin Templeton, a world renowned asset management company titled Global Optimized Return (GOR), a new portfolio which is a global asset allocation product that focuses on Private Banking Sector clients.
Mr. Jessada Sookdhis Chief Executive Office of FINNOMENA Group, mentioned that the challenges of the COVID-19 situation is indeed one of the key factors creating volatility in the global investment market. However, it also contributes as a trigger for new investors in Thailand to enter the market. Thai people are adopting the importance of investment, as shown in the increasing investment trend of various assets such as stocks, mutual funds, and even alternative assets like cryptocurrencies.
In the first half of 2021, FINNOMENA has grown above expectation, as a result of the company’s commitment to enhance the digital solutions for mutual fund investment. Consequently, the wealth managed via FINNOMENA platform increased from 16 billion baht at the end of 2020 to over 30 billion baht within six months, approximately 90% growth.
FINNOMENA still commits to create continual development whether it is in the area of investment content to create engagement with investors, or the area of platform differentiation to respond to investors’ need for higher returns. The main objective is to “weaponize” Thai investors with financial knowledge for their journey to unlock their investment potential.
Apart from this, one of the most successful factors for FINNOMENA is the incredibly positive feedback from private banking investors about Global Optimized Return (GOR), a collaboration between FINNOMENA and Franklin Templeton. This mutual fund portfolio is crafted based on Franklin Templeton’s global expertise, creating a similar experience to offshore private banking services for Thai investors. Following the launch, the overall investment value in this portfolio is over 1 billion baht already.
“It was quite a challenge since we launched GOR during April while the global market was quite volatile because of the global ongoing COVID-19 cases. The discovery of the new COVID-19 Delta variant and the crisis in India led the market to a fragile state despite a better outlook in Europe and USA. Nevertheless, with confidence in Franklin Templeton’s expertise and the FINNOMENA team, this portfolio has received great feedback from investors. Initially, the portfolio was available for the first 100 private banking investors in order to ensure exclusivity and service level. This group of investors receives deep insight information and rebalancing services directly from Franklin Templeton, therefore we would like to oversee this small group first,” said Mr. Jessada
Besides the private banking segment, FINNOMENA has also gained positive feedback from other groups of investors. In the first half of 2021, there has been a two-fold increase in investment interest. FINNOMENA has also officially launched FINNOMENA Personal Advisor service. The service offers a financial advisor service for mutual fund investment plans for investors with an initial investment value of 500,000 baht, currently not offered elsewhere in the market. Since the launch, the potential market has responded positively, with 1.5 billion baht currently and more growing via this new segment.
The main objective of FINNOMENA is to unlock Thai investors’ investment potential in order for them to achieve their financial goals as expected. The company attaches its core to increasing investment knowledge, ranging from beginner to advanced level, to assist the investors’ decision for pursuing superior investment performance. Currently, FINNOMENA has over 400,000 subscribers and over 80 million impressions per month. People’s positive impression towards FINNOMENA is shown via a consistent increase in FINNOMENA programme’s viewers. For example, the live programme called Morning Brief (8-9am on weekdays) is one of the most popular morning programmes, gaining the highest concurrent viewers, averaging around 4,000.
FINNOMENA remains commited to consistently improving programmes and creating new content in order to answer the needs of all investors, whether beginners, short-term, or long-term.
“For the last five years, FINNOMENA has aimed unlock Thai investors’ investment potential by giving them access to knowledge and outlooks from nearly 100 experts,” Mr. Jessada continued. “This year counts as another challenge for us to create opportunities via easy-to-digest investment content. We are still on an odyssey to build trust and positive impressions amongst people who are interested in the investment.”