Digital wealth manager Nutmeg has established a partnership with JP Morgan Asset Management to increase consumers’ access to services that were previously available to institutional investors. Nutmeg is a fintech company based in London.
Now, the fintech has more than 100,000 clients following the growth of its client base. It recorded growth by a third in the past year. Interestingly, women comprise 40 percent of its workforce, media reports said.
It is reported that the management fee for the Smart Alpha risk-related portfolio is 0.75 percent up to £100,000. The fintech is backed by Goldman Sachs and Schroders.
Through the Smart Alpha portfolios, digital customers will be able to take advantage of JP Morgan Asset Management’s research and expertise. By practice, customers will be able to check ‘what their money is doing’ each day and investments decisions will be made keeping in mind the environmental and social impact.
James McManus, chief investment officer at Nutmeg, said “At Nutmeg, our mission has always been to open up the previously exclusive world of wealth management, by bringing innovative, technology-led solutions to more people in order to help them achieve their financial goals. The Smart Alpha portfolio range builds on our core investment principles and aims to deliver superior returns by giving customers the best of both worlds: a multi-asset portfolio that combines the diversification of a passive approach with active, ESG-integrated, research-driven security selection.” Although the fintech is currently seeing losses, it has projected to see profit in the next 36 months.