Digital private wealth management platform Kristal.AI has crossed US$1 billion ($1.39 billion) in its assets under management (AUM).
The sum represents a growth of around three times from the platform’s AUM over the last 12 months.
From January to July, Kristal has grown its user base by over 50%, compared to its existing user base in 2021. The growth was broad-based over the platform’s private wealth and retail businesses.
Notably, the growth of private wealth businesses has accelerated both Kristal’s user growth and AUM per client.
In addition, some of Kristal’s former private wealth clients have opted for its digital family office (DFO) offering, which contributed to the platform’s AUM growth. Kristal’s DFO clients now account for 50% of its total asset base.
“This year has also been a strong year of portfolio expansion with fractional access to fixed income products, hedge funds and structured products such as fixed coupon notes”, says Kristal in its Aug 25 release. “Clients now receive newer and more opportunities to diversify their investment portfolio.”
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“The mass affluent and emerging HNWI (or high-net-worth-individuals) class of investors in Asia are growing exponentially. As we cross the US$1 billion mark in AUM, we intend to fully capture this segment and have tailored our private wealth solutions to address their needs,” says Asheesh Chandra, founder and CEO of Kristal.AI.
“Since our inception, we have always prided ourselves on relentless innovation and digitalization and this is showcased through our platform, which offers hybrid investment advisory combining the high tech of artificial intelligence (AI) and the high touch of human experts,” he adds.
