Futu Securities International (Hong Kong), a tech-driven online brokerage and wealth management platform, has partnered with BNY Mellon Investment Management to launch a responsible investing model portfolio.
The Money Plus Portfolio - Global ESG Selected Fund Strategy targets a stable growth risk profile with responsible investing considerations to preserve and grow invested assets.
Under the agreement, BNY Mellon IM, as a provider of outsourced chief investment officer (OCIO) capability, will provide model portfolio services to support Futu in developing and delivering its offerings.
Tailoring its offerings based on clients’ investment behaviour and risk appetite, the portfolio will be offered to clients as an option for investment should Futu’s system decide it relevant to them.
“Given the evolving wealth management needs among millennials and high-net-worth clients, Futu strives to continuously enhance efficiency, lower transaction costs and improve quality of investment services via technological and product innovations,” says Steve Zeng, managing director, global strategy and wealth management, at Futu Holdings.
“Futu is committed to becoming the most trusted investment platform via partnerships with leading global asset management companies to offer high-quality and diversified choice of investment products. By leveraging BNY Mellon IM’s world-class asset allocation capability, Futu will offer its clients a more efficient, scientific and professional approach to investing.”
Futu’s wealth management platform has maintained a rapid growth trend. As of March 23 2022, assets under management have reached HK$20 billion (US$2.5 billion) while the number of fund investors has surpassed 250,000. Futu has partnered with 60 asset managers including BNY Mellon IM to provide investment products to over 18 million users on its platform.
Since launching the OCIO business in Asia, BNY Mellon IM has seen strong demand for model portfolios and separately managed accounts (SMAs) from institutional and intermediary clients in the region. It has recently appointed Clarence Chan as head of client solutions for Asia-Pacific ex-Japan to lead the effort in building out its OCIO business in the region.