StashAway is one of the latest roboadvisors to hit Malaysian shores and it’s been getting really popular especially among young and savvy millenials in Malaysia. I recently jumped on the bandwagon myself. Read on below for my StashAway review.
StashAway Review: What is It Actually?
StashAway is a robo-advisory investment platform that gathers your preferences and uses complex algorithm to allocate your investments into several funds primarily in the overseas market. Originally based in Singapore, they have expanded to Malaysia recently and is one of the 3 Securities Commission-approved robo-advisory firms.
As of today, they invest in 32 differentiated asset classes including stocks from different geographical regions, government and corporate bonds as well as gold.
How Does StashAway Work?
StashAway invests your funds by using their proprietary Economic Regime-based Asset Allocation® investment strategy to automatically do asset allocation based on the current economic conditions. They also automatically diversify based on your risk profile and investment goals and horizon to achieve the best results.
You just have to download the app, complete the registration and voila! You have access to a relatively simple and hassle-free way to invest your funds easily.
StashAway charges you a tiered fee structure ranging from 0.2 – 0.8% based on how much you invest. Besides that, there are also miscellaneous fees including currency conversion fee and ETD manager fee.
All in all, StashAway fee is still relatively much lower compared to traditional banking products like unit trust funds which can go up to 5%!
StashAway Vs Other Types of Invesments
Put it this way, StashAway takes away a lot of the uncertainties with deciding what and when to invest. Coupled with proper discipline and strategies like ringgit cost averaging, personally I think it’s a good way to start investing even if you have zero idea about investment in general.
For example, compared to Funding Societies whereby you’d have to really dig deep into the kind of business you’re lending money to, StashAway takes away the hassle by automatically deciding what to invest for you. The caveat is you’re letting their algorithm do all the work. I’m fine with it, personally.
My experience with using StashAway
The whole experience has been really smooth, from the moment I download the app, to registration, to confirming my identity and to putting my first deposit into my portfolio. All in all, it took less than a week to get everything up and running. No paperwork involved! It is very convenient. The app is really slick and data are presented beautifully. They also give free tutorials to teach beginners who are new to investing.
I have just started investing using StashAway and will report more on the returns.
Hope this StashAway review managed to clear some doubts in your head. In the meantime, if you wish to try it out, feel free to use my referral link. Both of us get up to RM30,000 managed for free for 6 months so it’s a win-win for you and me!