Spanish Bankinter has announced the launch of Popcoin, a digital portfolio manager of investment funds, which is the first of its kind launched by a Spanish bank.
Currently the platform remains under testing but will be operational in the upcoming days.
Popcoin is aimed at Spanish savers with a digital profile and who are not necessarily Bankinter’s clients. A minimum deposit of €100 is required to access the platform on which the client will be able to buy a managed portfolio of selected investment funds.
According to Bankinter, the Popcoin service seeks to bring investment products usually provided to high-net-worth-individuals to small investors.
In particular, investors have to register on the platform and to link it to a bank account, whatever the bank is. After completing a survey around investment preferences and entering the amount of money they plan to invest, they will be proposed an investment portfolio of funds whose selection is made by Bankinter. The bank’s portfolio management team will periodically review it and will make timely changes in line with market developments.
Popcoin will offer ten portfolios with 140 actively managed investment funds, selected through a due diligence process on about 26,000 funds from international and local asset management companies.
“The investment strategy seeks to obtain the best return by keeping the investor’s assets in adverse market contexts and encouraging higher yields, to a greater or lesser degree, according to the risk profile of the investor, in the years with a favourable market environment. The cost of the services provided on the platform will be fixed, transparent and simple and will have no additional fees,” Bankinter said.