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March 29, 2019

OneApex purchases 51% of OneWealth Development

OneApex has acquired 51% of shares in Singaporean fund manager OneWealth Development from Chiu Joon Sun.

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GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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Sun has the sole ownership of OneWealth.

The transaction involved the acquisition of 255,000 ordinary shares.

The deal is OneApex’s plan to expand into the financial investment services space.

The financial investment business will focus on fund management, wealth management as well as family office advisory services.

OneApex will pay a total of S$338,000 ($2,49,335.84) in cash for the latest deal, including an initial payment of S$170,000.

The remainder will be paid on the fulfillment of certain target.

The deal consideration will be funded using internal resources.

OneApex said: “The Proposed Acquisition is expected to expedite the business development of the Group’s Financial Investment Services Business.

“The Financial Investment Services Business will be operated through the Target for the purpose of risk management, and is intended to support the Group’s businesses as disclosed in the Company’s circular to shareholders dated on 9 January 2019.

“The Proposed Acquisition represents an opportunity for additional stream of revenues which will enhance shareholders’ value in the long term.”

OneWealth, now a subsidiary of OneApex, will operate under the name OneApex Capital.

OneApex believes that the deal will not have material impact on its earnings per share or net tangible assets per share for the year ending 30 September 2019.

 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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