The Australian unit of Saxo has expanded its offerings with the launch of SaxoSelect, a suite of managed portfolios targeting self-directed investors and self-managed super funds.

Saxo Launches SaxoSelect in Australia

Initially, Saxo Bank was launched in 2016 in the European and Asian markets and is available only to Saxo account holders. It requires a minimum investment of US$10,000. However, there is no minimum investment period.

“In recent years, the appetite for alternative wealth strategies has grown in line with improved access to global capital markets and innovations in technology. More Australians than ever are looking to build diversified portfolios across geographies, and as such are using digital platforms to take control of their financial future – whether that’s through directly investing their savings or establishing their own SMSF,” said Adam Smith, the CEO of Saxo Australia.

Top Asset Managers Managing SaxoSelect Portfolios

With SaxoSelect, investors can access managed international financial instruments. It offers seven managed portfolios that BlackRock actively manages. Other such portfolios are run by Morningstar, Nasdaq, Brown Advisory, and Macro FX.

Additionally, Saxo kept the fees for these managed portfolios transparent, with an average fee of 0.95 percent. There are no other platform fees, entry, exit, or custody fees.

“Access to world-leading managed portfolios and international diversification, alongside total transparency and control, is something we believe that more investors need and what Saxo is here to offer. SaxoSelect is about truly expert wealth management at a much more affordable price,” Smith added.

“We have already seen significant interest in the service during the soft launch phase, and we believe we can enable more Australians to take control of their financial future and make more from their money.”

Saxo’s expansion of the products in the Australian market came a day after it launched SaxoWealthCare, a digital advice service that provides customized advice for the Hong Kong market. Saxo is already offering SaxoWealthCare in the UK and Singapore, with plans for Australia in the future.

Saxo was exploring the possibilities of a public listing last year and even inked a deal with a blank-check company. However, it scraped the deal last December, citing “timing.” Meanwhile, the Danish broker still kept its possibility of going public open.

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