Kenanga launches fully automated, AI-driven investment adviser

KUALA LUMPUR – Kenanga Investment Bank Bhd (Kenanga) aims to capture 60,000 to 70,000 new sign-ups in the next 12 months for its newly launched Kenanga Digital Investing (KDI) platform.

KDI is a fully automated, artificial intelligence-driven robo-adviser, designed to simplify how Malaysians save and invest.

Kenanga group chief digital officer Ian Lloyd said the platform offers two products for savings and investments, namely KDI Save and KDI Invest.

KDI Save is a cash management fund product while KDI Invest provides a gateway to global markets for a fee.

“KDI is another step in our vision to make investing accessible to everyone. With initial investments as low as RM250, customers can invest in global equities,” he told a virtual media briefing today.

With a minimum savings of RM100, KDI Save allows users to earn daily returns on their savings with no lock-in period and zero management fees.

“From now until the end of the year, we are offering an introductory offer at a fixed return of 3.0% per annum, no strings attached (no lock-in periods and no withdrawal fees) on KDI Save,” Lloyd continued. “On KDI Invest, customers can grow their wealth with access to global investment opportunities through US-listed exchange-traded funds at one of the most competitive fees in the market.”

He explained that robo-advisers aim to make investing simple by removing the guesswork in stock and fund picking, but not all robo-advisers are the same.

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

“The technology analyses thousands of data points per day without the influence of human emotions, accessing different geographies on how markets, bonds, commodities are doing, and analyse all that to construct portfolios that are classified, personalised, and presented to customers.

“The idea being that if you are at different stages in your life, you would have different preferences and horizons on investments, so we help to select portfolios that make sense for you,” Lloyd said.

KDI Invest is free for investments below RM3,000, while investors above that limit will be charged a management fee of between 0.3% to 0.7% per annum.

For more infomation on KDI, visit its website. – Bernama, February 15, 2022