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moomoo Singapore wealth management AUM soared 3.7 times in 3 months, with a high market share of over 22% in Q2 2022

SINGAPORE, Aug. 31, 2022 /PRNewswire/ — Futu Holdings Limited (Nasdaq: FUTU; “Futu”), the parent company of Singapore’s leading digital brokerage and wealth management platform Moomoo Financial Singapore Pte. Ltd. (moomoo SG), has reported continued growth for the second quarter ending June 30, 2022 (Q22022).

Both revenue and net profit increased 10.8% and 25.1% from the corresponding period year-over-year to US$ 222.6 million and US$ 87.7 million, respectively, fueled by the Group’s international expansion across key financial markets such as the US, Hong Kong SAR, Singapore, and Australia, with momentum sustained as the Group continued to cater to the diverse needs of global investors.

The following are highlights of achievements made by moomoo SG in Q2 2022:

  • Within 16 months of operation in Singapore, moomoo has quickly become a highly recognized platform by local investors, achieving increased penetration of the digitalized brokerage business in Singapore. As of June 2022, the number of moomoo’s Singapore users accounted for 22.1% of Singapore’s population aged between 20 and 70. Singapore clients’ AUM continued to increase, up 144.7% YoY.
  • In Singapore, AUM of the wealth management in Singapore surged 377.4 % and the funds’ holders grew 191.3% sequentially. As of quarter end, moomoo parent company- Futu’s wealth management brand has collaborated with 66 local and world-renowned financial institutions in offering diverse fund products to clients, adding two new partners in the second quarter.
  • As of June 2022, Moomoo Financial Singapore Pte. Ltd. had officially became the first digital brokerage to receive all 5 memberships from the SGX Group for both the securities and derivatives markets, strengthening its leading position in the industry.
  • As of the second quarter, Futu Trustee (Singapore) Pte. Ltd. obtained a trust business license from the Monetary Authority of Singapore (MAS), laying a solid foundation for trust business development in Hong Kong and Singapore, two of the most prominent financial hubs worldwide. With this license, Futu can provide a comprehensive range of trust services, including ESOP trusts, family trusts, and family office services to Asia’s and global corporate clients or high-net-worth clients.
  • In Singapore, moomoo SG became the first digital brokerage to lead an IPO project as the main placement agent and underwriter for Internet of Things solution provider, iWOW. The subscriptions through moomoo SG’s platform dominated, accounting for over 80% of the valid subscription. Additionally, moomoo SG also served as the participating dealer for the Lion-OCBC Securities Singapore Low Carbon ETF listing, with both the highest number of subscribers and subscription amount.
  • Other than the distribution of cash management fund and fund portfolios, moomoo SG had started supporting clients’ investment into the regular savings plans (RSP) directly from clients’ bank accounts, which was sought-after by clients looking for a disciplined investment approach.
  • To better cater to various investing needs, moomoo continued to seek more strategic partnerships so as to offer a wider spectrum of market data from global markets in the second quarter, adding US futures Lv2 quotes, SGX odd-lot quotes, and CXA ETFs quotes for users worldwide. Moomoo endeavored to diminish market failure by making professional data previously exclusive to institutions available to all of its users, across the globe.

In the pursuit of making personal financial journeys more accessible and sustainable for all, the Group and moomoo SG remained committed to intensifying investment in promoting financial literacy, investment education, and responsible investing for investors of all risk appetites. As of quarter end, the company rolled out almost 2,500 investing courses online, delivering easy-to-learn content in the form of stories, infographics, gif images, videos, animations clips, live streaming, etc., to equip investors with concepts and tactics to navigate diverse challenges and capture opportunities in this current volatile market.

Commented Mr. Gavin Chia, Managing Director of moomoo Singapore: “moomoo SG currently serves a fifth of Singapore’s adult population between the age of 20-70 and the findings of our investing white paper also reflects diverse investment preferences, know-how and risk appetites in the local market. As we progress onto the second half of the year, we have begun to see a steady increase of local investors actively rebalancing their portfolios to hedge against inflation and toward responsible investing. An increasing number of Singaporeans are also looking for ways to preserve or even grow wealth to beat inflationary pressures whilst supporting Environment, Social and Governance causes. Going forward, moomoo would continue to keep a close eye on local investors’ evolving investment needs and further diversify our product offerings to fit the risk appetites in the betterment of our continued offerings to Singapore investors.”

About Moomoo Financial Singapore Pte. Ltd. 

Moomoo Financial Singapore Pte. Ltd. (moomoo SG) is a wholly owned subsidiary of Futu Holdings Limited (NASDAQ: FUTU), which is an advanced financial technology company transforming the investing experience by offering a digitised brokerage and wealth management platform- moomoo. Moomoo enhances the user experience with market data, news, and powerful analytical tools. Moomoo also embeds social media tools to provide connectivity to all users, investors, companies, analysts, media and key opinion leaders.

In Singapore, Moomoo Financial Singapore Pte. Ltd. (www.moomoo.com/sg) offers investment products for trading via the moomoo platform, and it is a capital markets services licence holder regulated by the Monetary Authority of Singapore (Licence No. CMS101000). In June 2022, Moomoo SG became the first digital brokerage to receive 5 memberships from the SGX Group for the securities and derivatives markets.