iFAST enjoys more room for growth after hitting record-high AUA, says DBS

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SINGAPORE (April 30): DBS Vickers Securities is maintaining “Buy” on iFAST Corp with a target price of S$1.26, after the wealth management fintech player last week reported improved revenue and overall profitability in its latest set of 1Q18 results.

See: iFAST's 1Q earnings double to S$2.8 mil on higher revenue & record assets under administration

In a report Monday, lead analyst Ling Lee Keng notes how iFAST has made significant progress over the last 2-3 years, in her view, by broadening its range of investment products and services, while building the foundations to kick-start its business in China.

“The group is now a more integrated wealth management platform, with five key product groups — unit trusts, ETFs, bonds, stocks and insurance. This would strengthen its position as...(click on link for full story on theedgesingapore.com)