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Bursa Malaysia's plan to woo Gen Zs to the stock market

Publish date: Wed, 21 Feb 2024, 06:30 PM

KUALA LUMPUR: Bursa Malaysia Bhd chief executive officer Datuk Muhamad Umar Swift intends to attract a fresh cohort of young investors by offering more products with direct access to retail investors.

In an appearance on the BFM Breakfast Grille podcast, he said investor engagement sessions of different demographics showed that the stock market largely resonated with baby boomers.

Baby boomers are those aged between 60 and 78.

"That was a call to action for us because we see that it doesnt put us in where we need to be as an exchange. We need to have our product front and center. I talked about being jealous of fixed deposits earlier. We are and how would I mobilise that and so as a multi asset exchange, we recognise we need more products," Umar said.

He emphasised the need for a direct connection with retail investors, recognising their role in providing liquidity.

Umar also discussed Bursa Malaysia's efforts to restore the Malaysian capital markets to its former prominence and detailed the exchange's strategic vision for the period spanning 2024 to 2026, which focuses on its multi-asset exchange approach.

"We aim to ensure that the exchange goes beyond mere execution and we want people to engage with us and gain a deeper understanding."What we have observed is that the baby-boomers have accumulated wealth over time, and this wealth will eventually be passed on to the next generation," said Umar.

Umar envisions the next generation viewing Bursa Malaysia as a means of saving beyond traditional mutual funds."We acknowledged that Bursa Malaysia faces competition from edgier products like cryptocurrencies, which are often perceived as thrilling."Instagram influencers are leveraging cryptocurrencies, but you do not see them promoting stock shares, for instance," he added.

Nevertheless, Umar emphasised the importance of encouraging individuals to make well-informed decisions when it comes to investing.

On the exchange's vision, Umar said being a multi-asset exchange is to recognise that investing is a continuum.

"I have introduced the concept of MyBursa on the portal, how we aim to grow remisiers. We have products in that line," he added.

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