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CaixaBank has decided to open Ocean, its online fund management platform until now aimed at private banking clients, opening the space to all its clients.

The entity offers on this platform products of open architecture, from other managers, and now includes in the catalog the funds of its own manager CaixaBank Asset Management. Similarly, CaixaBank has reduced the minimum contribution amount in third-party managers on the platform Ocean from 20,000 euros to 600 euros, except if the brochure marked a higher amount, which is the one that will be applied.

The service Ocean It was the first investment fund platform with personalized information and conditions per client based on the service model. With a 100% digital operation, the client can choose and contract on his own initiative among 2,000 funds from more than 140 managers.

Since its launch in 2019, more than 31,900 operations with an intermediated volume of more than 749 million euros.

Without recurring advice, a custody service in funds of third-party managers and the incentives received from third parties (rebates) are returned and access to “clean” classes is offered to clients with independent advice.

Driving discretionary management

The entity has also wanted to give a boost to its offer of discretionary portfolio management, a business in which it has become a true leader with more than 25,000 million euros under management.

The news Smart Allocation, a new discretionary management solution that offers dynamic management with greater control of volatility through a quantitative model that identifies different market scenarios to adjust the risk level of the portfolio by modifying the weight in variable income within each profile.

They are aimed at clients advised by Private and Premier Banking seeking to have exposure to markets mitigating the effect of the extremes of the valuation cycles in equities and can be contracted with an initial investment of 6,000 euros. Like the rest of the discretionary management solutions, they can be contracted remotely through the “Ready to buy” operation without the client having to go to the office.

The mathematical model of Smart Allocation it uses variables that analyze the economic cycle, the relative value between assets and short-term trends in prices. Taking these three variables into account, The model identifies different market scenarios that generate adjustments in the portfolio. Thus, if the model anticipates the arrival of a bearish period, the portfolio will significantly reduce exposure in equities. On the contrary, the model requires further confirmation of bullish scenarios to increase positions.

A solution for every profile

This new range of portfolios allows you to choose between different profiles depending on the weight of variable income and according to the client’s profitability expectations and the time horizon of the investment: Tranquility (maximum of 30% in variable income and with a horizon of 4 years); Heritage (maximum of 60% in variable income, from 4 to 6 years) e Investment (maximum of 100% in variable income, with a horizon of more than 6 years).

Portfolios invest in 11 Smart funds of CaixaBank Asset Management which, from now on, they will share with the Smart Money portfolios, and which cover all types of assets. Its objective is to replicate the reference indices with the least difference with respect to them (“low tracking error”). Based on market information, Smart Allocation moves its asset distribution; therefore, although Smart Money and Smart Allocation They are composed of the same range of funds, they can be in different proportions, that is, they can have a different composition by type of asset.

The wallets Smart Allocation They share the transparency in costs of all the ranges of CaixaBank’s discretionary management portfolios. Thanks to the direct collection of the service, the client can know in advance the cost of the management mandate, as well as benefit from lower commissions when accessing “clean” classes in the underlying funds. For these new portfolios, the cost of the service is 0.70% per year.

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