NEW YORK, April 3, 2020 /PRNewswire/ -- UP Fintech Holding
Limited ("UP Fintech" or the "Company") (NASDAQ: TIGR), a leading
online brokerage firm focusing on global Chinese investors,
recently announced its official entry into the wealth management
business with the launch of its "Fund Mall," a brand new wealth
management feature that provides a one-stop-shop for investing in
global mutual funds. With a selection of more than 30 renowned
funds covering numerous underlying assets, Fund Mall lets investors
create diversified portfolios tailored to their specific needs.
A key strategic priority of the firm is to augment its wealth
management and asset management capabilities. In November 2018, UP Fintech launched its first
exchange-traded fund, the "UP Fintech China-U.S. Internet Titans
ETF" (NASDAQ: TTTN). The ETF
offers exposure to an index of 20 leading global internet companies
and UP Fintech is using TTTN to educate its client base about the
benefits of ETF investing.
In late 2019, the company added another
asset management feature "Cash Plus" to its trading
platform, Tiger Trade. This cash management service invests in
treasury bonds, investment-grade bonds, and bond ETFs, providing
clients with high liquidity and steady interest. By integrating Cash Plus into
Tiger's platform, investors may manage their assets and build
wealth with just a few clicks. Cash Plus has gained significant
traction among investors due to zero transaction fees and an
intuitive operating process.
The launch of the Fund Mall represents an important step forward
in the company's strategy to enrich its wealth management
offerings. Investors may subscribe to and redeem a wide
variety of mutual funds in the Fund Mall with Tiger Trade's
all-in-one account, adding easy and instant diversification to
their portfolios without having to open a separate, non-linked
account.
The rich range of mutual funds available on the Fund Mall
provides investors with diversified access to multiple global
markets and industries; limiting their exposure to volatility in a
particular sector. The Fund Mall includes over 30 well-known mutual
funds managed by top-tier global asset managers with deep
investment expertise and rigorous risk management. The Fund Mall
has already been well received by users on Tiger's platform who
continue to allocate their assets to its newly available mutual
funds.
"There are more than 100,000 open-end funds globally. When
selecting mutual funds to put into our Fund Mall, not only are we
focused on fundamental criteria such as the fund managers' investment strategies, and track records,
but we also pay close attention to other metrics, including the fund's AUM and inception
date, to judge whether the fund has
gone through both bull and bear market cycles," said Mr. Wu
Tianhua, Chairman and CEO of UP Fintech. "We hope to include best-in-class funds
that have withstood the test of time and provided investors with
solid returns over long periods. The mutual funds that we selected
for inclusion on our platform have been in operation for over 13
years on average. 22 of the funds went through the 2008 financial
crisis, and 95% of the funds manage more than USD $100 million."
Fund Mall also includes funds
that invest in multiple classes of securities, including equities,
bonds and money market funds, empowering users to allocate their
assets in accordance with their specific investment goals
and risk-preferences under different market conditions. Recent
market volatility has led some investors to move into bond mutual
funds for safety and stability.
Fund Mall is now available on the latest version of Tiger Trade.
In the next few quarters, UP Fintech will continue expanding its
mutual fund offering, providing clients with direct access to
diversified investment choices from leading fund families, enabling
them to allocate their assets across a wider range of countries,
securities, and industries. In the future, UP Fintech also expects
to offer wealth management services to investors located in other
countries and regions as the company scales internationally.
"We believe wealth management is an integral part of the
comprehensive services offered by our company as it complements
existing investment capabilities on our trading platform. We aspire
to become a one-stop destination for users to allocate their assets
across a wide range of securities
and investment products and we are confident this strategy will
enhance our customer retention and diversify our income stream in
the long run," Mr. Wu added.
UP Fintech Holding Limited is a leading online brokerage
firm focusing on global Chinese investors. The Company's
proprietary mobile and online trading platform enables investors to
trade in equities and other financial instruments on multiple
exchanges around the world. The Company offers innovative products
and services as well as a superior user experience to customers
through its "mobile first" strategy, which enables it to better
serve and retain current customers as well as attract new ones. The
Company offers customers comprehensive brokerage and value-added
services, including trade order placement and execution, margin
financing, IPO subscription, ESOP management, investor education,
community discussion and customer support. The Company's
proprietary infrastructure and advanced technology are able to
support trades across multiple currencies, multiple markets,
multiple products, multiple execution venues and multiple
clearinghouses.
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SOURCE UP Fintech Holding Limited