Endowus, a Singapore-based digital wealth platform, has teamed up with Amundi’s alternatives business line to expand its offerings for private wealth clients.
The deal will allow Endowus to offer its accredited investors in Singapore and Hong Kong with access to the strategies of hedge fund Bridgewater Associates.
Amundi established the alternatives business line after purchasing Lyxor Asset Management in January 2023 from Societe Generale.
This business unit designs and distributes funds and investment solutions in the alternative investment space in alliance with or by investing with well-known hedge fund firms.
It leverages Amundi’ sales team and the global clients unit to distribute its products.
Endowus chairman and chief investment officer Samuel Rhee said: “Creating opportunities for our clients to access institutional-quality, industry-leading investment solutions to help them reach their wealth goals has been our core mission since day one.”
Endowus revealed that it recently added more than 100 curated funds to its Fund Smart offerings.
Prior to the addition of Bridgewater Associates, the Singapore-based firm added private market and alternative strategies managed by KKR, Partners Group, Millennium, Blackrock, QuantEdge, and UBS.
Rhee added: “We are excited to work with our partners, Amundi and Bridgewater, to provide our clients the opportunity to invest into Bridgewater’s time-tested investment solutions.
“These offerings will now be part of our broadening suite of private market and alternative investments on the Endowus platform, which allows individual investors to implement their diverse asset allocation needs all seamlessly on a single Endowus app.”
Amundi South Asia CEO Albert Tse said: “We have a longstanding relationship with Endowus in designing and offering industry-leading funds through the platform – for instance the launch of Amundi’s low cost passive index series last year.
“We are delighted to be partnering with them to onboard the Bridgewater strategies funds to its platform and meet its clients’ growing and sophisticated needs.”
Established in 2017, Endowus had over $1.5bn in assets under advice as of August 2022. The company has also almost tripled the number of accredited investors on its platform since April 2021.