Silverlake JV firm aims 10 per cent of M'sian millennials to invest in MYTHEO

KUALA LUMPUR, June 28 (Bernama) -- GAX MD Sdn Bhd, a joint-venture (JV) company between Silverlake Digital INX Sdn Bhd and Japanese financial technology (fintech) firm Money Design Co Ltd,  is eyeing 10 per cent of the eight million millennials in Malaysia to use its “MYTHEO” service within the next three years.

MYTHEO is a digital investment management service offered via web and mobile platforms, licensed by the Securities Commission Malaysia ( SC). It is tailor-made for the Malaysian market from the very first robo-advisory service ‘THEO’ in Japan, regulated under the Japan Financial Services Agency.

In Japan, THEO has already benefited over 70,000 investors with over US$400 million (US$1=RM4.14) asset under management.

GAX MD chief executive officer Ronnie Tan said the Malaysian market had great potential for the fintech industry due to its relatively young and technology-savvy population, with those aged between 22 and 40 making up 29 per cent of the population. 

“There is a vast market out there. To reach out to the market, firstly, we aim to promote financial literacy and inclusiveness among millennials by changing their mindset towards the importance of investment, to set aside at least RM100 for the purpose.

“Once we are able to change their mindset, there will be a lot of potentials to grow. To do this, we need the support of stakeholders in the entire industry,” he told reporters at the launch of MYTHEO here today.

Also present were GAX MD chairman Tan Sri Mohd  Munir Majid and co-founder and chairman of Money Design Tomoyoshi Hirose.

Tan said GAX MD’s goal was to provide users with global diversification and investment management services, while making it widely available to local retail investors.

“MYTHEO is offering Malaysians personalised and professional digital investment starting from RM500, and for the first six months after the launch is offering the service at RM100, to make it affordable and attractive to retail investors,” he said.

He said the simplicity of the platform started from analysing the needs of clients by answering five questions in the span of 3-4 minutes, before personalising and building the portfolio to optimal. 

“Upon analysing the needs of the client, a personalised investment strategy basing on three functional portfolios of ‘growth, income and inflation hedge’ is automatically created. 

“By combining these, MYTHEO could develop an optimise portfolio consisting of multiple exchange-traded funds with global exposures and multiple asset classes that are listed in the US stock exchanges. Users could also customise their portfolios if they choose to,” he said.

MYTHEO is developed to be customer-centric, using the innovative technologies including a seamless digital customer on-boarding experience, e-payment capabilities, biometric recognition, voice activation commands, chatbot and big data analysis. 

By using artificial intelligence assist, the algorithm could analyse market sentiments from global news and market data towards sound investment risk control and solution, Tan explained.

He said the platform would also automatically rebalance and optimise the users’ investment through proprietary algorithm developed, while to ensure protection and security, the platform is hosted in highly secured Tier 3 verified data centre.

As for investors’ money and asset, it would be held by custodian, Malaysian Trustees Bhd, an independent trustee licensed by the SC, which is a subsidiary of RHB Bank Bhd, he added.

Silverlake Digital INX is a member of the Silverlake Group.

-- BERNAMA