StashAway, a digital investment platform, has launched a wealth management offering for high-net-worth individuals (HNWIs), StashAway Reserve, in the UAE.
This follows the success of StashAway Reserve in Singapore and Hong Kong. With StashAway Reserve, clients in the Mena region can now receive unbiased wealth advisory and access to private markets at a significantly lower entry point and transparent, cost-effective fees.
The UAE is known to be the world’s leading destination for HNWIs, with over 6,700 millionaires expected to move to the country this year. Yet, high-net-worth (HNW) investors in the Mena region still often face challenges from costly fees, high minimums for private market investments, and a lack of independent financial advice from traditional financial institutions.
Tailored solution
StashAway Reserve offers a tailored solution that addresses the needs of the region’s growing HNW segment, which already represents a significant portion of the company’s assets under management in the market.
“Since our launch in the UAE in late 2020, we’ve seen HNW investors gravitate toward our platform, drawn by its simplicity and digital-first approach. Private banks have struggled to serve this segment of HNWIs who are frustrated with costly investment products that don’t fit their needs. We’re excited to bridge this gap with StashAway Reserve, bringing client-first advisory and sophisticated private market investments with low, transparent fees to the Mena region,” said Michele Ferrario, Co-founder and CEO of StashAway.
Simplifying access to private credit
At launch, StashAway Reserve clients in Mena can access private credit investments from Hamilton Lane (Nasdaq: HLNE), one of the world’s largest private markets investment management firms. This is an expansion of Hamilton Lane’s existing partnership with StashAway, which it announced in 2022.
Nayef Perry, Head of Direct Credit at Hamilton Lane, commented: “As a leader in expanding access to private markets for a broader swath of investors, we are delighted to grow our partnership with StashAway to now include private credit in Mena. This launch will broaden access to private credit, which has historically delivered consistency of performance and cash yield over long periods, and at a lower minimum investment amount.”
Private credit is a compelling option for investors looking to earn stable income, offering the potential for higher yields and lower volatility compared to public bond markets. However, many HNW investors are excluded from this growing asset class due to high minimum investment requirements that traditionally start from $250,000.
StashAway Reserve lowers entry barriers to a fraction of the typical minimum investment required, giving Professional Clients in Mena access to private credit, alongside the comprehensive suite of globally-diversified investment portfolios and cash management solutions available on the platform.
On top of this, StashAway Reserve clients will receive personalised financial advice from a dedicated Wealth Advisor. Wealth advisory services include financial planning sessions and portfolio reviews, ensuring tailored, unbiased guidance. Clients with $100,000 of assets with StashAway will immediately be upgraded to Reserve, in line with the company’s commitment to broaden access to quality, personalised financial advice.--TradeArabia News Service
