Once a hot stock, iFast has lost close to half of its market capitalisation this year alone. However, we are beginning to see a slight relive. In recent days, iFAST has made a comeback, climbing 27% from its recent low. This is due to two key factors: its half-year results and recent developments with its eMPF project (A pension fund system in Hong Kong). If you’re unfamiliar with iFAST, here’s a quick review. (with some updates)
What is iFAST?
iFast Corporation is a wealth management fintech platform that serves three four main business areas: Business-to-Consumer (B2C): FSMOne.com (previously “Fundsupermart”), a multi-product online wealth management platform that provides DIY investors access to a myriad of investment products. (AUA: S$5.44 billion)Business-to-Business (B2B): Provide financial products to over 540 financial advisories (FA) companies, financial institutions, and banks. (AUA: S$12.24 billion)Emerging Fintech Solutions / Business-to-Business-to-Consumer (B2B2C) Model: Equip its B2B clients and business partners with B2C Fintech capabilities...