Futu Announces Its Wealth Management Business Surpassing $10 billion in AUM
Rhea-AI Summary
Futu Holdings, a tech-driven online brokerage and wealth management platform, announced that its wealth management business has surpassed $10 billion in assets under management (AUM). The company offers mutual funds, private funds, bonds, and structured notes to clients in Hong Kong and Singapore. Additionally, its subsidiary, Moomoo Securities Malaysia, has received approval for Institutional UTS Adviser (IUTA) registration from the Federation of Investment Managers Malaysia to distribute wealth management products in Malaysia.
Positive
- Futu's wealth management business surpassing $10 billion in AUM.
- Moomoo Securities Malaysia receiving IUTA registration approval to distribute products in Malaysia.
Negative
- None.
News Market Reaction
On the day this news was published, FUTU gained 4.20%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
HONG KONG, July 03, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced that its wealth management business has surpassed
Futu’s wealth management platform offers mutual funds, private funds, bonds and structured notes to clients in Hong Kong and Singapore. In addition, Futu’s fully-owned subsidiary, Moomoo Securities Malaysia Sdn. Bhd., has recently received approval for Institutional UTS Adviser (“IUTA”) registration from Federation of Investment Managers Malaysia (“FIMM”) to distribute wealth management products in Malaysia.
About Futu Holdings Limited
Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering fully digitalized financial services. Through its proprietary digital platforms, Futubull and moomoo, the Company provides a full range of investment services, including trade execution and clearing, margin financing and securities lending, and wealth management. The Company has embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. The Company also provides corporate services, including IPO distribution, investor relations and ESOP solution services.
Investor Contact
Investor Relations
Futu Holdings Limited
ir@futuholdings.com
FAQ
What milestone has Futu's wealth management business achieved?
In which regions does Futu offer its wealth management products?
What new approval has Moomoo Securities Malaysia received?
What kind of products does Futu's wealth management platform offer?
What is the significance of the $10 billion AUM milestone for Futu?
