Indexa Capital has reduced the average total cost of its automated investment portfolios to 0.52% after having reached 3,000 million euros of assets under management and more than 93,000 clients. The firm, founded nine years ago by Unai Ansejo, François Derbaix and Ramón Blanco, expects to close 2024 with a volume of 3.1 billion, following the path they have set to reach 10 billion within six years and even 15 billion in 2031.
In fact, Indexa applies a discount of up to 0.005 percentage points in its portfolioswhich leaves the average management fee at 0.34%, which together with the 0.09% average custody fee and the same percentage of average fee for the funds included in the portfolios leaves the average total cost at 0 .52%.
Furthermore, in the pension planswhere it already manages 439 million euros, the total cost is reduced to 0.499%, after reducing the management fee to 0.36%. In this segment, it managed to take a giant step after choosing one of the Caser lots where it appeared as an investment advisor in the contest for public promotion employment plan managers, and it already has the fourth largest pension plan for self-employed workers. big by heritage.
With these discounts, the firm quantifies the annual savings at 295,000 euros per year for your clients. “Every year we lower commissions, as we grow in asset volume. And with lower commissions, clients are happier and recommend us more, what we call our circle of success,” says Derbaix, who is coCEO of the firm. , who explains that it took six years from its birth in 2015 to reach 1,000 million, two and a half years to reach 2,000 million and only one year to reach 3,000. million euros.
Regarding whether they will be able to maintain this rate of growth, the manager is convinced that they can. “What works for us are the recommendations of our clients and our growth model is exponential until the market is saturated”, something that is still a long way from happening since “we have a market share of less than 0.5%” on the total investment industry in Spain.
Reasons that lead you to be optimistic about the potential of roboadvisorand not only in Spain. In fact, after leaving for BME Growth last year and purchasing Caravel, an insurance broker specialized in retirement savings, Indexa Capital does not rule out making other acquisitions of firms with a digital business. “In Spain, the most obvious thing would be another automated manager, because at some point there will be a consolidation, but at the moment they are not for sale. And we don’t want to buy an advisory or private banking company. We like marketing firms on-line”, explains.
The firm currently has 12 million euros of assets under management and 300 clients in Belgium and 17 million and 2,300 clients in France, where “it is more difficult for us to grow,” emphasizes Derbaix, who does not rule out making purchases “perhaps opportunistically in Portugal or Italy”, although “they are not a priority and we prefer to be strong where we are already present.” And it would have the financial lung to do so, since it has an annual recurring income of 7.4 million euros. In this year, it earns almost five million euros, with data up to the third quarter.
Regarding new product ideas, Indexa’s coCEO assures that they are exploring new business avenues. “We are looking at alternative assets Because, if we manage to offer it with diversification and low cost, it could be a good complement for clients, but we have nothing concrete yet and I would not like to generate false expectations. But we are looking at it,” confirms Derbaix, who nevertheless considers that lowering the access limit to 10,000 euros would be too low to market a product of this type.
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