Kristal.AI crosses the USD1B mark in assets under management
Singapore-headquartered digital private wealth management platform, Kristal.AI, has crossed USD1 billion in Assets under Management (AUM), effectively tripling its global AUM over the last twelve months.
In the first seven months of this year, KristaI has grown its user base by over 50%, in comparison to the existing 2021 user base. This growth has been broad-based, with both Private Wealth and Retail businesses significantly adding to the total user count. Notably, the growth of Private Wealth businesses has accelerated both Kristal’s user growth and AUM per client.
Kristal also saw a significant number of erstwhile Private Wealth clients opting for its Digital Family Office (DFO) offering, thereby accelerating AUM growth. Its DFO clients now account for around 50% of the total asset-base. Such growth was largely driven by the digitization and personalization of advisory services offered by Kristal.
This year has also been a strong year of portfolio expansion with fractional access to fixed income products, hedge funds and structured products such as Fixed Coupon Notes. Clients now receive newer and more opportunities to diversify their investment portfolio.
To manage its growth, the wealth tech startup has also made a series of senior appointments in the C-suite within investment advisory and marketing functions, coming with experience in several renowned global organizations. This serves to further broaden and deepen its management bench strength.
Asheesh Chanda, Founder and CEO, Kristal.AI said, “The mass affluent and emerging HNWI class of investors in Asia are growing exponentially. As we cross the US$1B mark in AUM, we intend to fully capture this segment and have tailored our private wealth solutions to address their needs. Since our inception, we have always prided ourselves on relentless innovation and digitalization and this is showcased through our platform, which offers hybrid investment advisory combining the high tech of AI and the high touch of human experts.”
Singapore has emerged as a leading wealth management hub bolstered by factors like an open economy, robust compliance and governance, progressive regulatory environment, an abundance of talent and a welcoming environment for businesses. Thanks to an influx of wealth from the wider Asian region and a growing demand for digital-first investment and advisory, Kristal.AI is well positioned to capture the hearts, minds and share of wallets of investors.
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