iFAST Corporation Ltd. ("iFAST Corp"; stock code: AIY) is an Internet-based investment products distribution platform. Incorporated in the year 2000 in Singapore and listed on the SGX-Mainboard in December 2014. iFAST Corp is also present in Hong Kong, Malaysia, China and India.
iFAST Corp provides a comprehensive range of investment products and services, to financial advisory (FA) firms, banks, financial institutions, multinational companies, as well as retail and high net worth (HNW) investors in Asia. In addition, iFAST Corp offers access to over 5,000 investment products including funds, bonds and Singapore Government Securities (SGS), stocks, Exchange Traded Funds (ETFs), as well as insurance products, and services including robo-advisory portfolio management services, research and investment seminars, financial technology (fintech) solutions, and investment administration and transaction services.
Over 240 FA companies, banks and financial institutions, with more than 6,000 wealth advisers, use the iFAST B2B platforms. The platforms include iFAST Central, iFAST Global Prestige, iFAST Pensions and iFAST Global Markets. The Group’s mission statement is, "To help investors around the world invest globally and profitably”. The Group won the "Most Transparent Company Award 2015, New Issues Category” at the SIAS Investors' Choice Awards 2015, as well as the ""Best Investor Relations – Merit Award” for First-Year Listed Companies at the Singapore Corporate Awards 2015.
Welcome to iFAST Corporation Ltd
iFAST Corporation is a global digital banking and wealth management platform headquartered in Singapore, providing a comprehensive range of investment products and services to financial advisory firms, financial institutions, banks, internet companies, multinational companies, as well as retail and high net worth investors in Asia. The Group offers access to over 20,500 investment products including funds, bonds and Singapore Government Securities (SGS), stocks, Exchange Traded Funds (ETFs), insurance products, and services including online discretionary portfolio management services (DPMS), research and investment seminars, financial technology (fintech) solutions, banking, pension administration, investment administration and transactions services. The company is also present in Hong Kong, Malaysia, China and UK.
iFAST Corporation is a global digital banking and wealth management platform, with assets under administration of approximately S$19.12 billion as at 30 Sep 2023. Incorporated in the year 2000 in Singapore, iFAST Corp provides a comprehensive range of investment products and services to financial advisory firms, financial institutions, banks, multinational companies, as well as retail and high net worth investors. The Group offers access to over 20,500 investment products including unit trusts, bonds and Singapore Government Securities, stocks and exchange traded funds, and insurance products; while services offered include online discretionary portfolio management services, research and investment seminars, Fintech solutions, banking, pension management, and investment administration and transaction services. The company is also present in Hong Kong, Malaysia, China and UK. At iFAST Corporation, we constantly remind ourselves that our company’s mission is to help investors around the world to invest globally and profitably. Our business strategies and solutions for our partners and clients begin with this mission statement in mind.
Our business can be broadly categorised into the following main divisions: the Business-to-Business (banks/financial institutions/financial advisory firms/internet companies) division, the Business-to-Consumer (direct consumers/investors) division, as well as an emerging Fintech Solutions/Business-to-Business-to-Consumer (B2B2C) model. In Asia, with offices set up across various markets, namely Singapore, Hong Kong, Malaysia, and China, we provide investors, financial institutions and companies with the conveniences of an efficient and award-winning investment platform, while offering a wide selection of funds and other investment products, and a range of services and solutions powered by our in-house IT system. The UK-based iFAST Global Bank aims to provide global banking connectivity to customers, corporates and financial institutions around the world.
4 Things To Know About Recent Announcements By iFAST (SGX: AIY)
It’s been a good and busy past couple of weeks for iFAST Corporation (SGX: AIY), an established regional FinTech player founded in Singapore in 2000. iFAST, which has been listed on the SGX since 2014, has seen its share price perform tremendously well since 2020, increasing from $1.06 on 3 January 2020 to $7.68 as of 14 January 2022, or a rise of more than 7 times over the past two years.
The increase in share price is well warranted. For FY2020, the company saw its revenue increase by about 35% to $169 million, while net profit for the year more than doubled to $20.9 million, compared to $9.3 million the year before. This growth has continued onto 2021, where iFAST has currently recorded revenue of $161 million and net profit of $23 million as of 3Q2021, indicating that the company will likely exceed its already-impressive performance in 2020. In many ways, iFAST has benefitted from being an established FinTech player in a Singapore market that is furiously adopting FinTech in all ways of life. As shared in their 2020 annual report, “while ‘FinTech’ only became a buzzword less than a decade ago, iFAST Corp has started developing its own IT solution in-house back in 2000 when the company was first founded.”
And while most retail investors would be familiar with FSMOne, iFAST also works with different partners, from global asset management firms, to banks for bond offerings, to bring on-board a wide range of options to investors and wealth advisers. The company has more than 280 distribution agreements with different product providers to offer over 14,000 investment products, including over 9,400 funds, over 1,500 bonds, stocks and ETFs (Singapore, Hong Kong and US stockbroking capabilities) as well as discretionary portfolio management services and insurance products on the platform. Since the start of 2022, iFAST has requested two trading halts leading to two announcements. In this week’s edition of 4 Stocks This Week, we look at 4 things that you may want to know about the recent announcements made by iFAST:
- iFAST Is Acquiring A Digital Bank In The UK - Last week, iFAST announced that the company intended to acquire a BFC Bank Limited – a full licensed UK bank – for approximately $45.9million. This represents about 2% of the company’s current market capitalisation. In addition, iFAST will also inject approximately $27.5 million into BFC Bank.
- The iFAST’s Five-Year Plan - As we wrote previously, iFAST was one of the companies applying for a digital bank license to operate in Singapore in 2020 – which they were not successful in. They are also currently leading a consortium to apply for a digital bank license in Malaysia.
- Successful Placement Of 14,000,000 Shares Raising $105 Million - To fund the acquisition of BFC Bank, iFAST announced on 11 January 2022 that it has successfully raised $105 million via placement of 14,000,000 shares priced at $7.50 per share. iFAST also shared that the placement was well oversubscribed, with over S$150 million in total subscription, more than double the initial base deal size of S$75 million.
- Placement Price Of $7.50 represents a discount of 4.5% to iFAST-Then Price Of $7.85 - Issuing more shares is typically seen as non-ideal for existing shareholders. This is because an increase in total share capital has a dilutive effect on existing shareholders. Moreover, to attract investors, new shares are usually be priced at a discount to the existing trading price of the shares – otherwise, these investors could just buy it from the secondary market.
IFAST (AIY/IFAS.SI)
iFAST is an Internet-based investment products distribution platform, with assets under administration of S$5.13 billion as at end-September 2014. Incorporated in year 2000 in Singapore, iFAST provides a comprehensive range of services, including investment administration and transactions services, research and trainings, IT services and backroom functions to banks, financial advisory firms, financial institutions, multinational companies, as well as investors in Asia. The Group is also present in Hong Kong, Malaysia and China. iFAST has two main business divisions, namely its Business-to-Consumer (B2C) website, Fundsupermart.com, targeted at DIY investors; and its Business-to-Business (B2B) platform that caters to the specialised needs of financial advisory (FA) companies, financial institutions and banks. As at end September 2014 and across the jurisdictions the Group operates, iFAST has over 115 distribution agreements with global fund houses offering over 1,800 investment products (including over 1,600 funds) on the platform across the different regions it operates in. Over 5,000 FA representatives and over 150 FA companies and financial institutions use the iFAST B2B platform.
IFAST CORPORATION LTD. (SGX:AIY)
