Led by Lim Chung Chun, the firm has built a highly scalable business model coupled with a growing and deepening range of products and services.
SEE: iFast Corp's AUA grows 44.5% y-o-y to record $14.45 bil
“iFast is well poised to capture more market share in Singapore,” adds Ling, noting that even with $128 billion in AUM, this volume is just around 10% of the total pool of collective investment funds in Singapore.
iFast’s AUA, which grew at a 2-year CAGR of 34% for FY2018 to FY2020, has outpaced the industry’s 10% growth in FY2017 to FY2019.
“With the expanding range of products and services, coupled with the boost from COVID-19 that helped to accelerate the rate of digital adoption, we expect AUA to grow by 30% in FY2021 and 20% in FY2022,” notes Ling.
As at Jan 29, iFast shares were trading at $5.25, up 2.7%.
