Raisin, a pan-European deposit marketplace, has joined forces with American asset manager Vanguard to offer ETFs to German retail investors.
Customers will be offered the option to invest in four portfolios comprising ETFS or index funds from Vanguard or DAB BNP Paribas.
The four portfolios will have an equity share of 30%, 50%, 70% and 100%, respectively, diversified across 16,000 securities.
Investors will need €2,000 to open an account, and will be charged average annual costs of less than 0.5%.
The firm is working with Mannheim University senior professor Martin Weber, former Wealthfront CEO Adam Nash and economist Al Breach on the new initiative.
Raisin founder and CEO Tamaz Georgadze said: “In addition to deposits with the best rates we now offer a compelling ETF solution. This marks another milestone in delivering on our mission to provide easy access to the best products across various asset classes.”
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By GlobalDataRaisin till now has been focusing on savings products in Germany. It currently has over 100,000 customers and assets worth more than €5bn.
The latest move marks the foray of Raisin in the retail investment segment, which the firm plans to make a second pillar alongside its savings offering.
Raisin head of investment products Til Rochow said: “Our Raisin portfolios are the perfect alternative to costly multi-asset funds and cumbersome direct ETF investing.”