Saxo Bank has partnered with BlackRock to build a digital platform that will propose portfolios invested in iShares ETFs to its retail clients.
The service, SaxoSelect, is to be launched in selected European markets, starting with Denmark, Finland, Italy, Norway, Netherlands and Sweden in Q1 2016.
SaxoSelect consists of three portfolios with different levels of risk (Defensive, Moderate, Aggressive).
These portfolios are managed by Saxo Bank, using research data developed by BlackRock, and will invest in iShares ETFs. They are available in selected currencies, initially euro and sterling, with an all-inclusive service fee of 0.9% per annum.
Kim Fournais, Saxo Bank’s chief executive officer, said: “This initiative is underpinned by the belief that technology will profoundly change the asset management industry.
“Access to technology, demand for transparency, and focus on performance will change the way individuals manage their savings. By combining our leadership in trading technology with BlackRock’s investment tools, we are shaping the future of how people invest.”
Michael Gruener, co-head of iShares EMEA Sales at BlackRock commented: “It is exciting to see continued demand for integrated ETF-based portfolios that provide investors with a low cost, transparent, and flexible way to invest.
“The growth of the European ETF market shows no sign of abating, but it is paramount that these tools are delivered to investors in a way that complements their digital habits.”