The partnership brings together the two Asian business. In the case of Avanda, it has a particular focus on Singapore-listed equities, such as in the small- and mid-cap segments.

Endowus, the Asia-based wealth management platform that recently wrapped up a capital fundraise, said yesterday that it has partnered with Avanda Investment Management.

The pact brings together two homegrown Singapore firms. (Endowus is also licensed in Hong Kong)

Avanda was appointed as one of the first asset managers under the Monetary Authority of Singapore Equity Market Development Programme (EQDP) initiative, a programme to bolster the Asian city-state’s equity market.

Under its EQDP mandate, Avanda focuses on institutional and private capital participation in Singapore-listed equities, particularly in small- and mid-cap segments.

“There is a renewed and growing interest in Singapore’s equity market – one that is built on long-term performance, transparency, and strong governance,” Samuel Rhee, chairman and group chief investment officer of Endowus, said. 

A statement from the firms noted that more than half of Singapore-listed companies trade below book value, particularly within the small- and mid-cap (SMID) segment “where many remain significantly profitable, resilient, and under-researched.”

Founded in 2017, Endowus has raised a total of more than $130 million in funding from investors including UBS, EDBI, Prosus Ventures, Lightspeed Venture Partners, Citi Ventures, MUFG Innovation Partners, Singtel Innov8, Samsung Ventures, SBVA, Illuminate Financial, OSK Ventures, Z Venture Capital, and ACF – a joint venture between JLIN LLC and The Wells Investments. The Endowus Group comprises Endowus' licensed companies in Hong Kong and Singapore, as well as Hong Kong-based multi-family office Carret Private. It has more than $100 billion in group assets.

Avanda was incorporated in 2014.