StashAway Malaysia, a digital investment platform, announced that it surpassed RM1 billion in assets under management (AUM) in 2023.
The company now manages funds for over 50,000 clients in Malaysia and has saved Malaysians over RM130 million in fees since it launched in 2018.
StashAway, which is the country’s first robo-advisor to receive a Capital Markets Services License, charges fees ranging from 0.2% to 0.8% per year.
This is reportedly significantly lower than traditional investment options such as unit trusts, which typically include a 5% upfront sales charge and a 2% annual management fee.
These higher fees can impact long-term returns, leading some investors to explore more cost-efficient alternatives such as StashAway.
Wai Ken Wong, Country Manager of StashAway Malaysia, said,
“When we launched in 2018, our mission was to make sophisticated investing accessible and affordable for everyone. Achieving RM130 million in fee savings is a testament to that mission.
We’ve since seen meaningful ripple effects from challenging industry norms, including the gradual phasing out of outdated practices like exit fees.”
Featured image credit: Edited from Freepik
