iFast

IT IS no mean task to be charged with helping people make important investment decisions every day. Home-grown fund distribution platform iFast has done this and succeeded to the tune of $48 million in revenue last year.

Comprising two arms, an online distribution channel for  investors and a transaction and service platform for independent financial advisors (IFAs) and financial institutions, iFast has grown by leaps and bounds since it was established in 2000.

The business-to-consumer segment of the company has been in operation since its founding, distributing unit trusts online to self-directed investors through fundsupermart.com.

"The transaction platform carries more than 300 unit trusts on board, and provides investors with a series of research articles, up-to-date market news and user-friendly fund analytical tools," says Mr Lim Chung Chun, 39, iFast's chairman and chief executive officer.

iFast's business-to-business arm was started in 2002 to service more than 3,000 financial advisers from over 40 financial advisory firms and financial institutions in Singapore.

Mr Lim says that both branches of the business are recognise as leading unit trusts distribution platforms, contributing $66 million in revenue in the first half of this year alone.

With a presence in Hong Kong, Kuala Lumpur and here, the 138-strong organisation's strengths include having a clear vision for the future. Says Mr Lim: "Key factors which have contributed to the company's success are our long-term view of market opportunities, acting on these opportunities early, and staying focused on pursuing business opportunities through good times and bad."

But even with foresight and big plans, every young outfit is bound to encounter some obstacles along the path to success. "In the initial years, the challenge was to ensure that the business would be able to reach a critical mass whereby economies of scale could be achieved," recalls Mr Lim. "The first three years of our operations coincided with a major global equity bear market - this made the going tougher."

The best way to overcome any challenge, he advises, is to persevere: "I believe that when we are undaunted by all kinds of market conditions, we will be able to find a way to success."

In line with its mission statement, Mr Lim says iFast will continue "to help investors worldwide to invest globally and profitably" through sustained growth at home and abroad.

"Instead of staying as a dominant fund distribution platform in Singapore, we see ourselves making forays into many other countries within Asia, and eventually globally. Hong Kong is our first venture outside Singapore, and Malaysia will likely be next," he says.

Mr Lim remains cognisant of the fact that while achieving sustained growth is integral to iFast's survival, it will not come easily. He says: "We consistently focus on improving our services to our customers. In a business world that is rapidly changing, this continuous effort is critical. If we rest on our laurels, our competitors will overtake us in no time."

Nevertheless, awards such as the Enterprise 50 serve as important motivators to spur the employees and company to greater success. He says: "We see the E50 award as a sign of encouragement for all our employees. It is heartening for the employees to know that they have helped to build one of Singapore's most enterprising private companies."

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