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You can now sign up to 'Bankia Expert Management' on the App and on 'Bankia On Line'

Bankia reaches more than 3 billion euros in its fund portfolio management service and enables digital contracting

Bankia plans to increase its market share by 82 basis points in investment funds over three years, to 7.2% at the end of 2020, according to its Strategic Plan.

Bankia Comunicación

By  Bankia Comunicación

Publish on 
20 November 2019 - 15:00

  • With this service, the customer delegates the management of their investments in Bankia, so that, once it has a profile, it contracts a diversified portfolio of funds according to the investor profile, which is managed actively by the entity.
  • If the contracting of 'Bankia Expert Management' is carried out online, the minimum required investment of 10,000 is decreased to 1,000.
  • Moreover, digitally contracted portfolios with less than 10,000 euros in assets will be exempt from paying the 8% success fee on the return achieved. Only a management fee of 0.20% will be applied.
  • During the first ten months of the year, Bankia has attracted more than 1 billion euros from this service and is already managing over 3 billion with it.

Bankia has attracted more than 1 billion euros during the first ten months of the year in its portfolio management service, called 'Bankia Expert Management'. Thanks to this, this services reaches over €3 billion for the first time.

In addition, the bank has enabled online contracting of this service on the App and 'Bankia On Line', the bank's internet office.

"With 'Bankia Expert Management', once the customer is correctly profiled in one of the four existing portfolios (Easy, Growing, Balanced and Advanced), they no longer have to worry about deciding what to invest in, when to do it or which are the markets with better prospects, among other issues. Bankia’s professional management team will do it on their behalf", says Rocío Eguiraun, director of Bankia Asset Management.

In order to adapt channels to the operation of this online service, the entity has made a series of adjustments to its marketing through offices. This has reduced the minimum investment for digital contracts from 10,000 to 1,000 euros.

It has also adjusted the fees: digitally contracted portfolios with less than 10,000 euros in assets (the minimum amount to contract the service at an office) will be exempt from paying the 8% success fee on the return achieved. They will only be subject to a management fee of 0.20% of the cash value of the portfolio, with a minimum of 10 euros if this value is less than 5,000 euros.

To subscribe to the service through the online channels, the customer must have a digital profile. In other words, exclusively digital correspondence and having communicated their contact details to the bank (e-mail and mobile phone).

When signing up to 'Bankia Expert Management', the first step that must be carried out by the interested party will be to complete the 'Suitability Test', which is displayed on the screen. The investor will have to answer the corresponding questionnaire to determine their risk profile. Once completed, the system notifies the customer of the recommended portfolio. At this point in the process, the interested party may select any of the portfolios with a risk profile equal to or lower than the result of the test.

As from that moment, the customer may make subscriptions and redemptions at any time through the bank’s digital channels, both the App and the Internet office, called 'Bankia On Line'.

Information about the performance of the portfolio

Users of 'Bankia Expert Management' can use the online channels to access all the information about the performance of their portfolio. This includes the performance of the managed assets, the appreciation obtained, the volatility at different maturities, the net assets of the portfolio, their distribution by the different types of assets, historical evolution, level of risk, funds invested and their composition, costs or the contributions and reimbursements made, among other data.

Moreover, the report will contain a comment from the manager, including an explanation of what happened in the last month, changes in the composition of the portfolio and its forecast for the coming months.

"With this initiative we are taking another step forward in the bank’s digital transformation, improving customer experience, with an advanced advisory model that allows better understanding and optimal monitoring of the investment made, and by reducing the minimum investment, we provide access to all customers to benefit from this professional management service", highlighted Elena del Pozo, director of Online Channels and Self-Service at Bankia.

Types of portfolios

This service has four portfolios to adjust the management service to the customer's needs. Thus, each portfolio has different volatility limits and return prospects:

  • Easy Portfolio, for conservative profiles, with a maximum volatility of 5% and an average position in variable income around 15%.
  • Balanced Portfolio, for moderate investor profiles, with a maximum volatility of 10% and an average position on the stock market of 40%.
  • Growing Portfolio, for dynamic profiles, with a maximum level of volatility of 20% and an average equity position of around 60%.
  • Advanced Portfolio, aimed at decisive investment profiles, with unlimited volatility and an average position in the stock market of over 65%.

Characteristics of management

'Bankia Expert Management' offers management characterised by the following parameters:

  • Professional management, carried out by a management team with more than 25 years of experience in the industry. And it will be done in accordance with the investor profile and customer expectations.
  • Active management, which adapts the portfolio dynamically, trying to take advantage of investment opportunities in the markets.
  • With high diversification, which is carried out through funds of funds, whether domestic or international, and with access to exclusive products, which, by their nature, would not be accessible to retail investors.

Up until the end of October, Bankia was the leading entity in net market subscriptions, with more than 1.1 billion euros, according to Inverco.

A large part of this growth has been based on the high level of customer acceptance of 'Bankia Expert Management', which for the first time has reached over 3 billion euros managed.

Thus, the income accumulated during the first ten months of the year for this service exceeded 1 billion euros, of which more than 70% came from external deposits (new contributions and transfers from third parties).

According to its Strategic Plan, Bankia plans to increase its market share by 82 basis points in investment funds over three years, to 7.2% at the end of 2020. The bank closed last September with a share of 6.94% in this business segment, an increase of 39 basis points in the year.


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