Asia Unhedged | Jack Ma-funded robo-advisor app targets lower-income investors
Alibaba founder Jack Ma. Photo: AFP
Alibaba founder Jack Ma. Photo: AFP
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Jack Ma-funded robo-advisor app targets lower-income investors

Youyu hopes to attract tens of thousands of Chinese investors this year

April 6, 2017 7:50 PM (UTC+8)

Alibaba-backed financial services firm Yunfeng has created a robo-advisor wealth management application aimed at lower-income investors in Hong Kong and China.

While Yunfeng has traditionally catered to wealthier investors, the Youyu app is targeting investors with a Hong Kong bank account and at least US$800 to invest. The goal is to attract tens of thousands of users of the service by year’s end.

A January survey by Hang Seng Bank in Hong Kong found that 70% of mainland Chinese investors plan to increase global allocation for investment this year.

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