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Lufax Unit, Schroders Partner on Digital Wealth Solutions

Lu International (LUI), a subsidiary of Lufax Holdings, one of China’s leading online personal finance platforms, announced that it has established a strategic partnership with Schroders Singapore, a wholly owned subsidiary of asset manager Schroders, to co-innovate digital wealth solutions in Southeast Asia. Their joint aim is to address the fast-growing needs of retail investors in the region.

The collaboration will tap into the collective strengths and capabilities of both entities: Schroders’ asset management expertise and LUI’s digital capabilities in areas such as data analytics, artificial intelligence and cloud technology.

The partnership will drive innovation in digital wealth solutions, leveraging data analytics to design customized multi-asset solutions incorporating goals, thematics and sustainability investing for a broad range of clients in Southeast Asia.

These solutions will first be launched in LUI Singapore’s wealth management platform, before being further expanded across partners in Malaysia, Thailand and Indonesia.

Lily Choh, Country Head of Schroders Singapore

Lily Choh, Country Head, Schroders Singapore, commented: “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.”

Joanna Tang, CEO of Lu International, added 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.”

Joanna Tang, CEO of Lu International

“Our collaboration with Schroders is therefore two-fold,” continued Tang. “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.”