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StashAway officially launches in the UAE

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StashAway, Southeast Asia’s largest and fastest growing digital wealth manager that offers its services to both retail and professional clients has launched in the Dubai International Financial Centre (DIFC). This makes StashAway the first digital wealth manager to get an asset management license from the Dubai Financial Services Authority (DFSA) with retail endorsement. The platform is available to local and international clients in the region.

Founded in 2016 in Singapore and with operations also in Malaysia and now the UAE, StashAway has users from more than 145 countries and of 174 nationalities. An established player in the market, the company has seen its assets under management grow more than 4.3X in the last 12 months, and plans to build on this momentum with continuous product development over the next few months and years.Based on their own personal risk preferences, StashAway clients can select from a range of growth-oriented, globally-diversified investment portfolios. Since StashAway launched in July 2017, all growth-oriented portfolios have outperformed their respective same-risk benchmarks with annualised USD returns* of 11.1% on the highest-risk portfolio and 4.3% for its lowest-risk portfolio. It also has a cash management product,  StashAway Simplethat has a projected rate of 1.2% in AED and USD on any amount of cash with no lock-up. 

Ramzi Khleif, StashAway MENA General Manager says, “Following the success of StashAway in Southeast Asia, it was a natural path to expand the firm into a thriving region such as MENA, using the UAE as the gateway to our services. The UAE has a large mass affluent segment that has had to rely on traditional investment products that are often expensive and generic. We identified this gap in the market for sophisticated, accessible, global investment options and we are excited to launch our services here in UAE and the wider MENA region. The platform does not just offer investment solutions, but brings together a personalised wealth management offering, an extensive resource of educational videos and articles as well as human support available 7 days a week.”