Kenanga launches AI driven robo-advisor for M'sians

• Allows users to earn daily returns on savings with no lock=in period
• Access to global investment through US-listed Exchange Traded Funds

Kenanga Investment Bank Berhad has launched Kenanga Digital Investing (KDI), which the company claimed is the market’s latest fully automated Artificial Intelligence (AI) driven robo-advisor designed to simplify how Malaysians save and invest.

Licensed by Securities Commission Malaysia, the KDI platform offers two convenient products - KDI Save and KDI Invest, the company said in a statement.

KDI Save allows users to earn daily returns on their savings with no lock-in period and zero management fees. And from now until the end of the year, KDI Save offers a market leading 3.0% fixed interest rate, it said.

KDI Invest meanwhile allows customers can grow their wealth with access to global investment opportunities through US-listed Exchange Traded Funds (ETFs) at one of the most competitive fees in the market, Kenanga said.

Ian Lloyd, group chief digital officer, Kenanga Investment Bank Berhad said KDI is another step in the company’s vision to make investing accessible to everyone. 

“With initial investments as low as US$59 (RM250), customers can invest in global equities. We are proud to launch KDI Save, a cash management product with one of the highest returns in the market, while KDI Invest provides a gateway to the global markets at an affordable fee,” he said.

Lloyd claimed that KDI’s innovative portfolio design is a game-changer for wealth management as the system selects suitable portfolios to help customers achieve their investment goals in line with each customer’s personal risk preferences. 

“The AI monitors global market conditions and rebalances customers’ portfolios automatically, giving them peace of mind that their portfolio is being taken care of around the clock,” explained Lloyd.

According to Kenanga, robo-advisors aim to make investing simple by removing the guess-work in stock and fund picking, but not all robo-advisors are the same.

KDI said it employs technology to monitor global markets and to react to new investing opportunities.

The technology is touted by Kenanga to be able to analyse thousands of data points each day, incorporating information from across continents and asset classes, to develop investment portfolios, without the influence of human emotions.

These portfolios aim to generate sustainable returns while managing risk, it said.

KDI Invest is completely free for investments below US$716 (RM3,000) while investors above that limit will be charged a management fee between 0.3% to 0.7% per annum, making it one of the most competitive robo-advisor platforms in the market today.

For more information about Kenanga Digital Investing, visit here.