Asian fintech company 8 Securities has launched Chloe, a robo-advisor that constructs portfolios with exchange traded funds (ETFs) listed on the Tokyo Stock Exchange (TSE).

To begin, customers must answer a short survey which will help Chloe set goals and target dates to achieve those goals.

Each yen deposited is invested into a diversified global portfolio of TSE-listed ETFs that are monitored and optimised on a daily basis. These portfolios are diversified across 50 countries, 37 industries, and 4,324 stocks and bonds. The robo-advisor uses machine learning and hence, is expected to become more intelligent over time.

Users can start an account with as little as JPY 10,000 ($88) and can deposit or withdraw funds as and when they please, without paying any additional fees. Although services are free till July 2017, a fee of 0.88% of the portfolio size will be charged thereafter. The mobile-only service is available to Android and Apple smartphone and tablet users residing in Japan.

By Soumik Roy, editorial contributor to Banking Technology