Lufax Subsidiary Lu International and Schroders Singapore Partner to Co-Innovate Digital Wealth Solutions for Investors in Southeast Asia
Collaboration aims to revolutionise the digital investment landscape in the region, drawing on robust capabilities of both powerhouses
SHANGHAI--(Business Wire / Korea Newswire) June 28, 2021 -- Lu International (Singapore) (“LUI”), a subsidiary of Lufax Holding Ltd (“Lufax”, NYSE: LU), a leading technology-empowered personal financial services platform in China, today announced that it has established a strategic partnership with Schroders Singapore, a wholly owned subsidiary of Schroders, an asset management company, to co-innovate digital wealth solutions in Southeast Asia with the aim of addressing the fast-growing needs of retail investors in the region.
This exciting new collaboration will tap into the collective strengths and capabilities of both entities: Schroders with its unparalleled asset management expertise and insights, and LUI with its extensive market-leading digital capabilities.
The partnership will drive innovation in digital wealth solutions, leveraging data analytics to enhance the design of customised multi-asset solutions infusing goals, thematics and sustainability investing for a spectrum of clients in Southeast Asia. By harnessing cutting edge technology and leading market insights to develop bespoke wealth solutions, the needs of different clients will be uniquely tailored to.
This will be complemented by LUI’s best-in-class technological capabilities especially in areas such as data analytics, artificial intelligence and cloud technology.
These innovative solutions will first be pioneered in LUI Singapore’s wealth management platform, before being further expanded across partners in Malaysia, Thailand and Indonesia.
Ms Lily Choh, Country Head, Schroders Singapore, commented:
“We are very excited to be embarking on this journey with LUI who is in the forefront of digital and technological developments. We believe that digital wealth management will play a big role in the future of investing, given the growing demands of investors in the region, with their digital-led lifestyles and access to vast amounts of information at their fingertips.
The collaboration will foster opportunities for us to stay ahead of these needs, by leveraging on the synergistic best-in-class technology which LUI offers, which will allow us to deliver customised solutions and insights that can help investors cut through the clutter in a meaningful way.”
Ms Joanna Tang, CEO of Lu International, commented:
“We believe that investors in Southeast Asia, with its fast-rising middle class and digital natives, are currently underserved when it comes to a holistic digital investment experience. This strategic partnership builds on our long-term ambition to cater to the fast-growing needs of investors in the region. Customisations and superior client experience are cornerstones of successful digital wealth platforms. Our collaboration with Schroders is therefore two-fold: first to co-develop innovative tailored digital wealth solutions for our clients; then to work with our local and strategic partners in the region to expand the reach of these solutions. We believe that by partnering an established, investment powerhouse like Schroders, we can significantly enhance our offerings for our clients, across segments.”
About Lufax Holding Ltd
Lufax Holding Ltd is a leading technology-empowered personal financial services platform in China. Lufax Holding Ltd primarily utilizes its customer-centric product offerings and offline-to-online channels to provide retail credit facilitation services to small business owners and salaried workers in China as well as tailor-made wealth management solutions to China’s rapidly growing middle class. The Company has implemented a unique, capital-light, hub-and-spoke business model combining purpose-built technology applications, extensive data, and financial services expertise to effectively facilitate the right products to the right customers. For more information, please visit www.lufaxholding.com.
About Lu International
Lu International (Singapore) Financial Asset Exchange Pte. Ltd.(“LUI”) (Co. Reg. No. 201702479G) holds a capital markets services licence issued by the Monetary Authority of Singapore under the Securities and Futures Act (Cap. 289 of Singapore) (“SFA”) in respect of its business in the SFA regulated activities of dealing in securities, fund management and providing custodial services for securities, to eligible customers. Lu Global is the online wealth management platform operated by LUI. LUI is a subsidiary of Lufax Holding (“Lufax”), a leading technology-empowered personal financial services platform in China. Lu Global is a mobile investment and wealth management platform operated out of Singapore. It offers 24/7 online access to a wide range of high quality investments. Lu Global offers investors the opportunity to invest easily with small investment amounts, and with low commitment period. Investors have the ability to invest with maximum flexibility while still being able to benefit from attractive returns. For more information, please visit www.lu-global.com.
As a global investment manager with over 200 years of experience in investment and innovation, Schroders actively and responsibly manages investments for a wide range of institutions and individuals, to help them meet their financial goals and prepare for the future. It provides innovative products and solutions across five business areas consisting of Private Assets & Alternatives, Solutions, Mutual Funds, Institutional and Wealth Management and invest in a wide range of assets and geographies. As of December 31, 2021, Schroders was responsible for £574.4 billion (€641.7 billion/$785.1 billion) assets of its clients, managed locally by 42 investment teams worldwide. It has over 5,500 talented staff across 35 locations globally. Further information about Schroders can be found at www.schroders.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about Lufax’s beliefs and expectations, are forward-looking statements. Lufax has based these forward-looking statements largely on its current expectations and projections about future events and financial trends, which involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. These forward-looking statements include, but are not limited to, statements about Lufax‘s goals and strategies; Lufax’s future business development, financial condition and results of operations; expected changes in Lufax‘s income, expenses or expenditures; expected growth of the retail credit facility and wealth management markets; Lufax’ expectations regarding demand for, and market acceptance of, its services; Lufax's expectations regarding its relationship with borrowers, platform investors, funding sources, product providers and other business partners; general economic and business conditions; and government policies and regulations relating to the industry Lufax operates in. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Lufax’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Lufax does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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Lufax Holding Ltd
Lu International (Singapore) Financial Asset Exchange Pte. Ltd.
+65 65 6909 6666
Schroder Investment Management (Singapore) Ltd
+65 6800 7418
Hume Brophy (Singapore)
+65 9852 5679
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