KUALA LUMPUR (Feb 3): Affin Hwang Asset Management Bhd's (Affin Hwang AM) total assets under administration (AUA) rose by 26% in 2020, which is the strongest expansion recorded since the firm's inception 20 years ago.
According to its press release, the total AUA rose from RM58 billion at the start of the year to RM73 billion at the end of the year. The AUA reflect the combined growth of Affin Hwang AM and AIIMAN Asset Management, its wholly-owned Islamic fund management arm.
The growth was buoyed by steady inflows into its unit trust funds as investors sought for better returns in a low interest rate environment, said Affin Hwang AM. The company declared a total income distribution of RM1.16 billion across its retail and wholesale funds in 2020.
The company said it will continue to focus on improving the client experience and driving innovation as it steps into its 20th milestone this year.
Technology will be a key enabler to achieve these goals as the company embarks on a string of digital initiatives aimed at future-proofing its business, it added.
For instance, in January, the company launched its first mobile application app, Allocate Plus, which enables users to start their investment journey with just RM50.
"Through the app, users will be able to perform functions such as opening a new investment account, top up their investment portfolio, redeem their investments, as well as switch between the funds offered," said Affin Hwang AM in its press release.
Throughout 2020, the company launched 23 new funds that span different strategies and market exposure to help clients diversify in a low interest rate setting. It also launched two smart beta exchange traded funds that were listed on the Main Market of Bursa.
The company is cautiously optimistic about the market outlook in anticipation of a broader economic recovery, backed by accommodative policies and global vaccine roll-outs. It will continue to monitor liquidity indicators and the progress of inoculation.