This stock is set to ride on Asia’s growing wealth management industry

SINGAPORE (Oct 31): DBS Vickers Securities is reiterating its “buy” call on iFAST Corporation at a target price of $1.20, with expectations of strong assets under administration (AUA) growth in FY17-18.

The investment products distribution platform last week posted a 35.3% decline in 3Q16 earnings to $1.9 million from $2.9 million, which DBS says is still an improved quarter after four consecutive weak quarters as 3Q net profit still grew 63% q-o-q even as expenses continued to be high.

(See also: iFAST's 3Q earnings fall 35.3% to $1.9 mil on loss from China operation)

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