Digital wealth management platform provider Quantifeed has joined forces with Mitsubishi UFJ Morgan Stanley Securities (MUMSS) to launch a smartphone-based discretionary investment service.
The Mirai Value app matches novice investors to portfolios based on their risk profile to encourage customers of Japan’s largest bank MUFG Bank to invest in globally diversified portfolios.
Available only on smartphone, Mirai Value offers five portfolios of funds investing in stocks, bonds and REITs. It requires an initial investment of JPY100,000 to start and then users can set up a regular savings plan that automatically takes funds out of a customer’s savings account per month.
The app also enables customers to fund their portfolios from ATM machines, facilitating crucial offline-to-online interaction. MUMSS’s investment advisory team manages the portfolios and, using Quantifeed’s technology, ensures that a customer’s investments follow their recommendation, even as market conditions change.
“We are delighted to have partnered with Mitsubishi UFJ Morgan Stanley Securities on the development of this groundbreaking app,” says Alex Ypsilanti, CEO and co-founder of Quantifeed. “We believe Mirai Value will enable young people, who typically maintain most of their savings in their bank account, to begin investing and growing their wealth towards a better retirement.”
According to Mitsubishi UFJ Morgan Stanley Securities, making the Japanese public shift their savings into investments has ‘historically been a difficult task, despite government and industry-wide efforts’. It says Japanese customers are becoming more anxious about their retirement amid a falling birthrate, a rapidly aging population and a constantly low-interest rate, low yield environment.
Naoaki Fujitani, deputy general manager of the structured products division at MUMSS, said: “Mirai Value responds to those who want to resolve this issue but are not sure where to start. Leveraging Quantifeed’s technology, Mirai Value will give investors with limited financial knowledge a professionally managed, well-diversified portfolio. We have positioned Mirai Value’s ‘wealth advice supported by leading technology’ as one of our core services, as we would like to support the younger generation’s financial future.”
In addition to Mirai Value, Quantifeed has outline plans to collaborate closely with Franklin Templeton, one of its investors, to provide more wealthtech propositions to financial institutions in Japan.
Quantifeed has also developed customised digital wealth propositions for banks, brokers, insurers and wealth planners across Asia.