Press release

CaixaBank broadens discretionary management offering with new Smart Allocation portfolios and opens online funds platform to all customers

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CaixaBank's corporate offices in Barcelona

• The Smart Allocation portfolios employ a quantitative model that identifies different market scenarios in order to adjust the weight of equities.

• As a result, the bank completes its discretionary management offering with two differentiated ranges: the Smart range, which invests in passive management funds and is made up of the index-managed Smart Money and Smart Allocation portfolios; and the Master range, comprising active management funds advised by international third-party managers.

• CaixaBank is the Spanish market leader in discretionary portfolio management with over €25 billion under management.

• In addition, CaixaBank opens Ocean -its digital platform for managing third-party management funds- to its customers and allows contributions from €600 upwards.

CaixaBank has launched its Smart Allocation portfolios, a new discretionary management solution that offers a dynamic management with further control of volatility through the application of a quantitative model that identifies different market scenarios in order to adjust the portfolio's risk level by modifying the weight in equity within each profile.

They are aimed at Private Banking and Premier Banking customers that seek exposure to markets while mitigating the effect of the extremes of equity valuation cycles, and they can be contracted with an initial investment of €6,000. Just as the other discretionary management solutions, they can be contracted remotely via the “Ready to buy” system without the customer having to go to the branch.

The Smart Allocation portfolios’ mathematical model employs variables that analyse the economic cycle, the relative value between assets and the short-term trends in prices. By considering these three variables, the model identifies different market scenarios that generate adjustments in the portfolio.

As a result, if the model foresees a bearish trend, the portfolio will considerably reduce equity exposure. On the contrary, the model will require a further confirmation of bullish scenarios in order to increase equity positions.

This new portfolio range allow customers to choose between different profiles according to the weight in equity, the customer's expectations of return and the time horizon of the investment: Tranquilidad (maximum 30% in equity and a time horizon of four years); Patrimonio (maximum 60% in equity, between four and six years) and Inversión (maximum 100% in equity and a time horizon of over six years).

The portfolios invest in CaixaBank Asset Management's eleven Smart funds, which from now on will be shared with Smart Money portfolios and cover all types of assets. The aim is to replicate the benchmark indexes with the lowest difference possible (low tracking error). Based on the market information, Smart Allocation moves the asset distribution, so even if Smart Money and Smart Allocation are made up of the same range of funds, they can be in different proportions, that is, they can have a different composition by type of asset.

Smart Allocation portfolios share the same cost transparency as all the ranges of CaixaBank's discretionary management portfolios. Due to directly charging the service, the customer will know the cost of the management mandate in advance and benefit from lower fees when accessing "clean share" classes in underlying funds. The cost of the service in these new portfolios is an annual rate of 0.70%.

A comprehensive offering in discretionary management solutions

By means of the Smart Allocation portfolios, CaixaBank completes its discretionary management offering with two differentiated ranges: the Smart range, made up of the index-managed Smart Money and Smart Allocation portfolios; and the Master range, comprising active management funds advised by third-party managers in certain asset types.

With these two ranges, CaixaBank consolidates itself as the market leader in discretionary portfolio management in Spain with over €25 billion under management: the Smart range has more than €1.6 billion and the Master range totals over €20.4 billion. Lastly, the Asset Plus portfolios, available to CaixaBank Wealth customers, have over €3.2 billion under management.

The Ocean platform, for all CaixaBank customers

CaixaBank has given a new boost to Ocean, its online fund management platform, by opening it to all its customers. By means of this initiative, CaixaBank offers all its customers open-architecture funds so they can operate at their initiative. In addition, it has added the CaixaBank Asset Management funds to the Ocean catalogue and reduced the minimum contribution in third-party managers from €20,000 to €600, unless the brochure specifies a higher amount.

Launched in 2019 for Private Banking customers, the Ocean service was the first investment fund platform with customised information and conditions for each customer according to the service model. Fully operated online, customers can choose and contract at their own initiative from among 2,000 funds from more than 140 managers.

Since it was launched in 2019, more than 31,900 transactions with a brokered volume of over €749 million have been carried out.

The platform has been designed to provide the maximum level of transparency regarding the total costs that a customer assumes based on their profile: without ongoing advisory, a custodial fee is charged to funds managed by third parties and third-party rebates are paid back; ongoing non-independent advisory, 100% waive of the custodial fee and access to classes of funds for which CaixaBank receives compensation from the fund manager; or wealth -independent advisory-, with access to “clean share” classes for which CaixaBank receives no compensation from the fund manager.

CaixaBank, always by its customers’ side

CaixaBank's commitment to technological innovation as an enhancement of its customers' experience has enabled the bank to operate with normality during the state of alert, maintaining 90% of the branch network open.

Thanks to tools such as The Wall (Muro) and to all-inclusive mobility solutions, the bank has been able to improve communication with its customers, providing Private Banking and Banking Premier managers full advisory capacity and functionality from anywhere.

In addition, CaixaBank has enhanced the CaixaBankNow online banking service, available in web format or through the mobile app, which allows customers to carry out practically all their banking needs in a simple, quick and comfortable way and without having to go to a branch.