Madrid, 19 April 2018
Openbank has reached a partnership agreement with BlackRock, the largest manager in the world, through which it will receive advice on the distribution of assets and market analysis. As a result of the first stages of this strategic alliance, the 100% digital bank from the Santander Group is strengthening its value proposition with the launch of the most advanced diversified investment platform in the market. This service, available to everyone whether or not they are customers, offers five alternatives composed of different asset allocations. Each offers an investment strategy involving money market, fixed income, equity and real assets (inflation-linked bonds, commoditties, real estate and infrastructure) funds.
Openbank customers already have a system in constant development that allows them to access more than one thousand investment funds from more than 40 different managers (open architecture). With this new service, at a glance anyone can see the market outlook from the leading manager BlackRock and with one click they can buy all the funds associated with each alternative with the speed and simplicity that characterizes Openbank. In addition, this tool allows users to understand key investment concepts such as the difference between active management funds (which seek to obtain a return through continuous adjustments to the investment strategy) and passive management funds (cheaper than the first as they simply replicate an index).
With an intuitive, educational and fully digital interface, users can find out about Openbank's market outlook and choose between five alternatives, comprised of a maximum of ten investment funds each. Once one of these has been chosen, the customer can buy the funds proposed in each example or modify any of the selections as they wish. In addition, they have access to information on the performance, risks, maximum and minimum fall and all the public documentation for each fund at all times.
The diversified investments alternatives are monitored each month by the Openbank Investment Committee which has BlackRock's asset allocation. They are free to use so those customers who decide to invest in these funds will only pay the fees for each product which are always the lowest in the market.
Openbank is the 100% digital bank from the Santander Group and has more than one million customers who manage their finances through its app and its website and have a customer service hotline available to them 24 hours a day, 7 days a week. In 2017, Openbank fully upgraded its technology platform and expanded its catalogue of products and services. These achievements have led to it being one of the most highly rated banks, according to GfK.
BlackRock is a global leader in investment and risk management and provides advice to individual and institutional customers in more than 30 countries around the world. At the end of December 2017, BlackRock was managing assets worth $6.28 billion, which makes it the world's largest fund manager.