StashAway Surpasses SGD 3.5 Billion in AUM by End of 2025, Driven by Strong Portfolio Returns
The robo-advisor's flagship portfolios delivered average returns of 17.5% in 2025, outperforming benchmarks and attracting new assets.
By Emma Fischer·April 21, 2026·5 min readOrionmano Industries
The robo-advisor's flagship portfolios delivered average returns of 17.5% in 2025, outperforming benchmarks and attracting new assets.
AUM Milestone and Growth Context
StashAway managed over SGD 3.5 billion in assets under management as of 2025, a milestone that positions the Singapore-based robo-advisor among the largest digital wealth managers in Southeast Asia. The firm reached this threshold during a year marked by heightened market volatility, trade policy uncertainty, and diverging central bank rate paths—conditions that historically challenge asset gatherers.
The AUM figure represents cumulative client assets across StashAway's suite of portfolios, including its flagship General Investing offerings, Thematic Portfolios, and the Income Investing portfolio powered by J.P. Morgan Asset Management. Asset growth in 2025 was driven by a combination of strong portfolio returns, net client inflows, and existing asset appreciation. Industry estimates suggest that StashAway's AUM has grown several-fold from the approximately SGD 1 billion it reported in 2021, though the firm has not disclosed a precise growth timeline for the intervening years.
2025 Portfolio Performance Breakdown
General Investing portfolios powered by StashAway—the firm's core offering—posted full-year 2025 returns ranging from 8.7% for its lower-risk, bond-focused allocations to 23.4% for its most aggressive, equity-focused portfolios. The average across all risk levels stood at 17.5%, according to StashAway's Q4 2025 returns report. These figures are expressed in gross terms before fees, withholding taxes, and reclaims on dividends.
The performance was consistent across the year. By the end of the third quarter, year-to-date returns already averaged 14.1%, with the range spanning 7.3% to 18.7%. The portfolios outperformed traditional equity-bond benchmarks, which the firm attributes to its inclusion of gold and ultra-short-dated Treasuries in the benchmark construction.
Thematic Portfolios also contributed meaningfully to returns. Technology Enablers, which holds exposure to blockchain, cybersecurity, and AI infrastructure beneficiaries, posted gains driven by sustained spending on data centre buildouts and semiconductor capex. Future of Consumer Tech returned 11.4% on average in USD terms in the first half of 2025 (3.8% in SGD terms), with gaming and esports as leading sub-sectors. Environment and Cleantech delivered the strongest H1 performance among thematic sleeves, lifted by rising demand for nuclear power as a clean solution to AI's electricity requirements.
The Income Investing portfolio powered by J.P. Morgan Asset Management returned 6.4% for the full year 2025, net of fund manager fees but before StashAway's management fee. Its monthly annualised historical payout, which reflects distributions net of underlying fund fees, trended upward over the period from 4.36% in October 2024 to 4.89% in May 2025, before settling at 4.76% as of March 2026.
Exhibit
StashAway Income Investing Portfolio Monthly Historical Payouts (Oct 2024 – Mar 2026)
Annualised historical payout percentages net of fund manager fees, before StashAway management fee.
The performance across StashAway's portfolios is underpinned by the firm's proprietary Economic Regime-based Asset Allocation (ERAA®) framework. The ERAA® system dynamically adjusts portfolio exposure across global equities, bonds, and gold based on prevailing macroeconomic regimes, aiming to manage downside risk during periods of stress while capturing upside during rallies.
Gold played a particularly important role in 2025 portfolio outcomes. StashAway's gold-inclusive benchmarks outperformed traditional equity-bond benchmarks across all risk levels, delivering higher returns per unit of risk taken, according to the firm's Q3 2025 returns report. The metal rallied through the year on multiple catalysts: safe-haven demand amid trade tensions, central bank purchases as institutions diversified away from US Treasuries, and sticky US inflation in the upper-2% range that reinforced gold's role as an inflation hedge. Broader investor demand strengthened as well, with inflows into gold ETFs gaining momentum through the third quarter.
The ERAA® framework's multi-asset construction meant that portfolios were positioned to benefit from both equity strength and gold's rally. Lower-risk portfolios, which carry higher bond and gold allocations, saw the metal contribute both stability and returns during volatile episodes such as the DeepSeek AI valuation shakeup in January 2025 and the Liberation Day tariff announcements in April.
Outlook for 2026 and Beyond
StashAway is positioned to sustain asset growth in 2026 if prevailing market conditions remain supportive. Several structural tailwinds identified by the firm could continue to benefit its portfolios.
The continued buildout of AI infrastructure is expected to provide support for Thematic Portfolios, particularly Technology Enablers. Spending on data centres, semiconductor fabrication, and power generation—including nuclear—shows no sign of decelerating based on current capital expenditure guidance from major technology companies and utilities. The interplay between AI compute demand and energy infrastructure is deepening, a trend that Environment and Cleantech is also positioned to capture.
Gold demand may persist as a portfolio ballast. Trade uncertainties and concerns about US fiscal sustainability continue to drive central bank diversification away from US Treasuries. Should inflation remain stubbornly above central bank targets while rate cuts materialise—a scenario that benefited gold in 2025—the metal could again provide both upside and stability for multi-asset portfolios.
Investors should note that StashAway may revise its fees and charges, with the firm's policy requiring advance notification to clients of any adjustments. Fee changes could affect net returns for existing and prospective clients. Market conditions remain the dominant variable: a reversal in equity markets, a sustained tightening of financial conditions, or a sharp decline in gold prices would directly impact portfolio performance and, by extension, asset flows.
For a platform that has demonstrated an ability to attract assets during volatile periods, the 2026 outlook hinges on whether the macroeconomic environment continues to validate a diversified, gold-inclusive approach to asset allocation. The ERAA® framework, having outperformed in 2025, will face its next test as interest rate trajectories, trade policy, and fiscal dynamics evolve.
