Asset managers start the year on a high note

“Also, with the low interest rates, loan moratorium and financial insecurity, they will be looking to build a financial buffer, ” country manager of StashAway in Malaysia Wong Wai Ken (file pic) told StarBiz.

PETALING JAYA: Asset management firms appear to be witnessing encouraging growth as people look for various avenues to park their money amid the uncertain economic outlook brought on by the Covid-19 pandemic.

The prevailing environment seems to bode well for such companies due to the low interest rates environment, among other factors.

“People are spending less and they would have more deposits. There are less expenditures on restaurants and travel, so naturally they would have more savings.