Another Digital Asset Manager Lands in Singapore
After planting its flag in Hong Kong and India, Kristal.ai has landed in Singapore, according to City Wire Asia:
Singapore will play host to yet another digital advisory platform catering to the mass affluent and high net worth segment, Citywire Asia can reveal.
Launching on August 10, Kristal.AI is an online asset management platform that gives investors access to independent advisers and portfolio managers. Similar to an independent financial adviser, investors can pick and choose from the various strategies, called ‘Kristals’, of ex-traders and fund managers.
The platform works by offering clients a range of quantitatively-curated Kristals. Once an investor chooses from these algorithmically-selected but human-provided strategies, the company’s quants will then implement it in their client’s portfolio. Naturally, he or she can then monitor it through an app.
How much does it cost? It has a minimum investment of $1000, but fees depend on the strategies. Straightforward bond kristals purportedly charge 0.1% per annum, while complicated, option-driven strategies could feature hedge fund-like fees – think 1 and 10 plus hurdles and watermarks. Trades, by the way, are done through Interactive and Saxo Bank in Singapore and Hong Kong.
The company currently operates under a capital markets license in Singapore. However, it is restricted by the Lion City’s fintech sandbox requirements, which it expects to be free of within nine months’ time.
In the meantime, the startup can deal with retail and high net worth clients, while simultaneously developing its algos even further.