With Gift-a-PortfolioTM, investors can set up and send individual investment portfolios to friends and family as gifts.
Online PR News – 17-April-2021 – Singapore – SquirrelSave announces the launch of a new feature to better serve the needs of the investor community. Coined “Gift-a-PortfolioTM”, this innovation will allow SquirrelSave account holders to invest any amount into a new investment portfolio, and gift it to someone they choose.
This allows SquirrelSave investors to create investment portfolios for their loved ones, family members and friends to start their journey of Smart Investing. It will encourage those who may not be so savvy with investing to learn with a gifted portfolio. By giving them a pre-funded portfolio, 100% managed by SquirrelSave’s proprietary Artificial Intelligence (AI), the Gift-a-PortfolioTM feature allows a more experienced investor to mentor their friends or family members and start a conversation about prudent financial planning.
SquirrelSave is the only fully automated AI-driven robo-investing platform in Singapore, with no human intervention needed to manage the investments. The fully digital customer interface is user-friendly and features a gamification algorithm to assess the risk-reward psychometrics to automatically recommend an investment portfolio risk setting. Each SquirrelSave account holder has full flexibility to set up as many investment portfolios as desired - called “goals”. Once the goal is funded, the SquirrelSave AI algorithm takes over and invests the money 24/7 in a globally diversified portfolio of exchange traded funds (ETFs).
Because SquirrelSave is fully automated, the cost of management is substantially lower than other traditional investment vehicles. An added benefit of SquirrelSave is that the algorithm is able to invest from as little as $1 across different ETFs, thereby optimising the investment return for the risk taken. This is not easily done or tenable in traditional investment platforms. Unlike traditional investment platforms where a minimum sum of S$1,000 or more is required with monthly account servicing fees, SquirrelSave offers a flat 0.50% management fee and only earns a performance fee if SquirrelSave generates a positive return. And the performance fee is only payable if the return is higher than the previous time that the performance fee was charged – called a “high watermark” feature.
“SquirrelSave was founded to make investing a breeze for those who are too busy, too confused or too scared to start an investment portfolio. SuqirrelSave is also suitable for those holding on to traditional investments such as unit trusts. We developed a robust AI system that has proven itself through the Covid-19 pandemic crash in 2020. SquirrelSave has shown that data and AI analytics can make a difference in navigating choppy markets with discipline and without emotions. To create the algorithm, we have trawled through years of investment data to create an intelligent, automated investment platform,” says Victor Lye, Founder & CEO of SquirrelSave.
In Sep 2020, SquirrelSave launched the “Invest with Just $1” campaign where new investors could receive $1 from SquirrelSave to experience how asset allocation was possible with clever use of technology and AI. SquirrelSave encourages Smart Investing where an investor is committed to a longer-term diversified approach, instead of trading and timing the markets for short term gains. To encourage an investing attitude, the Gift-a-PortfolioTM feature allows the giver to specify a minimum investment period to allow the portfolio enough time to ride out market volatility.
“With the launch of this Gift-a-PortfolioTM feature, we are nearer to our vision to encourage more people to start learning about investing, and invest smarter – thanks to AI and machine learning. As a holder of a Capital Markets Services license regulated by the MAS, SquirrelSave will continue to innovate risk-managed digital investment solutions to make wealth management accessible to everyone, especially the un(der)served.” added Mr Lye.
The Gift-a-PortfolioTM feature will be available on SquirrelSave from mid-April 2021. Anticipating Mother’s Day, SquirrelSave hopes that account holders will be encouraged to set up investment accounts for their mothers, as a gift that keeps growing for life.
Profile of Victor Lye in Annex A
Issued for and on behalf of PIVOT Fintech Pte Ltd by Affluence Public Relations
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SquirrelSave is the consumer brand of PIVOT Fintech Pte. Ltd. (http://http://www.pivotfintech.com) - a venture founded by Mr Victor Lye who has over 25 years’ leadership in investments, insurance and healthcare. SquirrelSave uses machine learning AI to predict risks and returns based on the Markowitz Nobel Prize winning Modern Portfolio Theory. Featuring proprietary gamified algorithms developed by founder Victor Lye to make risk profiling fun and jargon-free, SquirrelSave aspires to bring Smart Investing to Anyone, Anywhere, Anytime. Through SquirrelSave, PIVOT Fintech hopes to find partners in the region to improve the lives of the un(der)served.
Victor Lye BBM CFA CFP
Founder & CEO, Pivot Fintech
Victor has over 25 years' cross industry experience in investments, insurance and healthcare. A corporate entrepreneur, he has transformed and turned around several businesses to profitability.
He founded the Wealth Management Group in 2001 and built up the AUM from zero to over US$350m within four years.
A Colombo Plan Scholar, he worked for the Government of Singapore before venturing into the private sector where he held leadership positions in stockbroking, wealth management, private banking, health insurance and digital businesses, including online investing, e-procurement and digital payment/ billing networks.