Danish multi-asset brokerage Saxo Bank has teamed up with Nasdaq to provide portfolio management services. A selection of stocks have been included into the Nasdaq DW Global Momentum portfolio that is based on Nasdaq’s Dorsey Wright research. The portfolio is focused on developed and emerging markets stocks and does not include U.S. shares.
The goal of the service is to deliver to clients a tailored and cost-effective way to invest in a portfolio that includes 30-40 quality stocks. The composition is based on a “relative strength” ranking which is formulated by Dorsey Wright (DW), which is Nasdaq’s subsidiary for investment research provision, and tools and solutions that help investors manage complexity.
Commenting on the news, the CEO and founder of Saxo Bank, Kim Fournais, said: “By combining our unique trading technology with Nasdaq’s expertise in investment management, we create a strong alternative to more traditional asset management solutions at a very competitive price. We are proud to turn Nasdaq’s research and methodology into actionable investment opportunities.”
“Our SaxoSelect offering is underpinned by the belief that technology will profoundly change the asset management industry. Access to technology, demand for transparency, and focus on performance will change the way individuals manage their savings.” Fournais elaborated.
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Automated Investment Management
The product will be added to Saxo Bank’s automated trading and investment service, SaxoSelect. It enables clients of the Danish bank to invest in pre-selected 28 portfolios offered by different investment advisors like Morningstar and BlackRock.
Within the software solution offered by Saxo Bank, clients that use SaxoSelect, can see each of the stocks in their portfolio. The assets which are held in the portfolio are physical shares, which clients can track in real time via the SaxoTraderGO platform. The portfolio will be automatically rebalanced in guidance with Nasdaq’s research.
Commenting on the partnership with Saxo Bank, Nasdaq Dorsey Wrights’s Head of Research and Client Engagement, Jay Gragnani, said: “The investment landscape continues to change with developments in technology and this has helped firms to develop scale by combining the complementary strengths of different participants.”
The new portfolio aims at high growth, buying momentum stocks via Nasdaq Dorsey Wright’s “relative strength” methodology.