• Ernie Diaz

Singapore Slinging

We defy you to find a product or service that doesn't have a thriving market in China, with the sole exception of Japanese history books. Point is, if it's selling in the West, you've got customers in the East. 

So the news that Blackrock, Fidelity, and other monolithic mutual fund providers have set sites on China, by no means indicates a waning retail trading base. Singapore online brokerage iFast, emboldened by its YoY 500% stock surge, is targeting $75b under administration by 2028, with Chinese retail traders providing the majority of those zeroes. 

A lofty goal, but achievable? "2028 is also the year China is targeted to become the world's largest economy,' says Edward Lehman. "Currently, the top online brokerages in America have over 17 trillion under administration, so iFast's target is actually rather modest, a half a percent of that total. However, it's safe to assume that a few online giants such as Ant Financial will have huge market share, beyond US leader Vanguard's 30-ish percent. The ease of distribution and adoption for such a tech giant is the key factor."

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