The new MF portfolios will help Saxo to further expand its reach in the UK’s wealth management industry. Credit: Christin Hume on Unsplash.

Saxo’s UK-based unit, in partnership with digital wealth manager Moneyfarm, has launched mutual fund (MF) portfolios for the investors of M&G Wealth’s &me platform.

Moneyfarm has developed the &me app, an investment platform launched in January this year.

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The new MF portfolios will help Saxo, which also acts as a custodian bank for Moneyfarm, to further expand its presence in the UK’s wealth management industry.

The portfolios will also allow Moneyfarm to offer access to actively managed funds from different investment managers, such as Federated Hermes, First Sentier, iShares, M&G, Manulife, Pictet, PIMCO, among others.

Saxo UK head of institutional sales Christine Kiener said: “Over the past eight years, we’ve built a strong and successful partnership with Moneyfarm and we’ve had the pleasure of participating in their growth journey.

“We were delighted to support Moneyfarm in the launch of their exciting new B2B2C proposition, delivering mutual fund portfolios to M&G Wealth &me customers.

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“Saxo’s focus on ‘win, win’ outcomes ensures that our interests are aligned with our partners and we are committed to delivering for their most critical projects, as quickly as possible.”

The latest development comes after M&G bought a minority stake in MoneyFarm in January last year.

Moneyfarm CEO Giovanni Dapra said: “Saxo’s determination and drive to democratise investing rings true with Moneyfarm’s core principle that personal investing should be simple, transparent and accessible.

“Our ongoing and successful partnership with Saxo combines the scale and experience of an established player with the nimble and innovative nature of a digital fintech business.”