iFAST Corporation’s rapid growth of asset and wealth management in Asia have led UOB Kay Hian analyst Clement Ho to initiate “buy” on the company and a target price of $3.34.

See also: iFAST triggers second SGX query in three months as share price surge over 8%

“The high proportion (>80%) of unmanaged assets in Asia continues to fuel industry AUM growth well into 2030, with CAGR estimated at high single digits over the next decade. This supports our thesis that iFAST’s assets under administration (AUA) is undergoing a structural growth trend,” he says in an Oct 13 report.

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